Apartment Building Redevelopment with 2-Bed
For Sale
$2,100,000
2517 Dodson Drive, Atlanta, GA 30344
Redevelopment opportunity with eight 2-bedroom units on a large parcel, sold as-is for restoration and potential expansion.
Property Size8,584 SF
Lot Size5.37 Acres
Price / SF$244.64
Days on Market160
Property Features for 2517 Dodson Drive
General Information
Standard status
Active
Size
8,584 SF
Lot size
5.37 Acres
Property subtype
General Commercial
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$19,727
Amenities
A/C - Other
3
Parking.
Lot.
5.369999885559082
Building Details
Year Built
1940
Listing Agency:
Fathom Realty GA, LLC
(678) 751-2773
Listed By:
Camille Carter
(678) 751-2773
Source:
Xome
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 9 at 4:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Fathom Realty GA, LLC
Investment Insights
Based on property information with market context.
This multifamily redevelopment opportunity includes a property with eight 2-bedroom units on approximately 5.37 acres. The existing structure(s) require significant restoration. The scope noted in the seller’s remarks includes removal of plumbing, electrical, HVAC components, and interior finishes, indicating a full renovation approach will be necessary to re-purpose and stabilize the asset.
The property is located at 2517 Dodson Drive in Atlanta, GA 30344. The sale is being offered on an as-is basis, with no warranties, repairs, or concessions provided by the seller.
For investors, builders, or value-add operators, the project is best suited to those prepared to manage a comprehensive repositioning. The basement level is described as having additional expansion potential that could be reconfigured to generate added income-producing space or support uses such as a laundromat, storage, or event/amenity space, subject to buyer due diligence and design feasibility. This offering may be particularly attractive to cash or hard money investors seeking a larger-scale renovation and redevelopment project.
The property is located at 2517 Dodson Drive in Atlanta, GA 30344. The sale is being offered on an as-is basis, with no warranties, repairs, or concessions provided by the seller.
For investors, builders, or value-add operators, the project is best suited to those prepared to manage a comprehensive repositioning. The basement level is described as having additional expansion potential that could be reconfigured to generate added income-producing space or support uses such as a laundromat, storage, or event/amenity space, subject to buyer due diligence and design feasibility. This offering may be particularly attractive to cash or hard money investors seeking a larger-scale renovation and redevelopment project.
Key Highlights
- 5.37‑acre multifamily redevelopment parcel in Atlanta’s 30344 corridor (exact acreage to be verified by buyer)
- Eight (8) 2‑bedroom units with a redevelopment and renovation opportunity
- Year built: 1940; existing structure(s) require restoration including removal of plumbing, electrical, HVAC components, and interior finishes
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$94,684
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,893,680
$1.9M
Cap Rate 7%
$1,352,629
$1.4M
Cap Rate 9%
$1,052,044
$1.1M
Market Conditions
NOI Build-Up for 8,584 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$180.3K $21.00/SF
− Vacancy
−$8.1K −$0.95/SF
EGI
$172.2K $20.06/SF
− OpEx
−$77.5K −$9.02/SF
NOI
$94.7K $11.03/SF
Area
Atlanta, GA
Vacancy
4.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,893,680
Cap Rate 7%
$1,352,629
Cap Rate 9%
$1,052,044
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.58M
NOI $94,684 @ 7.0% cap · market cap 4.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,969 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Explore this area
Business Placement
Demographics for 30344, GA
35,365
Population
17,586
Households
2
Avg Household Size
36
Median Age
36%
College-Educated
89%
High-School Grad
12.1 sq mi
ZIP Area
2,923
Density / Sq Mi
$59,647
Median Household Income
$42,108
Median Earnings
$1,315
Median Rent
$240,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Redevelopment opportunity with eight 2-bedroom units on a large parcel, sold as-is for restoration and potential expansion.
Where is this apartment building located?
The property is located at 2517 Dodson Drive Atlanta, GA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 5.37‑acre multifamily redevelopment parcel in Atlanta’s 30344 corridor (exact acreage to be verified by buyer); Eight (8) 2‑bedroom units with a redevelopment and renovation opportunity; Year built: 1940; existing structure(s) require restoration including removal of plumbing, electrical, HVAC components, and interior finishes
