Corner Retail/Service
For Sale
$209,900
Pending
2647 Old Hapeville Road, Atlanta, GA 30315
Corner commercial space offers updated interior in a C1C district allowing small-scale retail and service uses.
Property Size1,080 SF
Days on Market131
Property Features for 2647 Old Hapeville Road
General Information
Standard status
Pending
Size
1,080 SF
Property subtype
Other
Zoning
C1C
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,091
Amenities
Central Air
3
Other
Parking.
2 Parking Spaces. Lot.
Level
14374.8
Level.
Building Details
Year Built
1955
Listing Agency:
REMAX Around Atlanta
(404) 384-6963
Listed By:
Carson Pickens · License #176200
(404) 384-6963
Source:
Xome
Added: Apr 1
Changed: Aug 7
Last Checked: Aug 8 at 4:01AM
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 REMAX Around Atlanta
Investment Insights
Based on property information with market context.
This property is a corner commercial space that has been completely updated after previously being used as a single-family residence. It is configured for retail or service activity consistent with its zoning, and presents as an affordable option for ownership.
The site is located on the corner of Cleveland Ave and Old Hapeville Road SW, just a few blocks from I-75. Zoning is C1C, which permits small-scale, pedestrian-friendly commercial, retail, and service activities intended to serve surrounding residential neighborhoods.
Buyers seeking a compact storefront-style space should review the C1C zoning requirements and allowed uses for their specific plans.
The site is located on the corner of Cleveland Ave and Old Hapeville Road SW, just a few blocks from I-75. Zoning is C1C, which permits small-scale, pedestrian-friendly commercial, retail, and service activities intended to serve surrounding residential neighborhoods.
Buyers seeking a compact storefront-style space should review the C1C zoning requirements and allowed uses for their specific plans.
Key Highlights
- Corner commercial space on Cleveland Ave and Old Hapeville Road, just a few blocks from I‑75
- Zoned C1C for small‑scale, pedestrian‑friendly commercial, retail, and service uses serving nearby residential neighborhoods
- Completely updated interior; previously used as a single‑family residence
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
$12,587
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
6.00%
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%
$251,740
$251.7K
Cap Rate 7%
$179,814
$179.8K
Cap Rate 9%
$139,856
$139.9K
Market Conditions
NOI Build-Up for 1,080 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
$19.4K $18.00/SF
− Vacancy
−$1.5K −$1.35/SF
EGI
$18.0K $16.65/SF
− OpEx
−$5.4K −$5.00/SF
NOI
$12.6K $11.66/SF
Area
Atlanta, GA
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$251,740
Cap Rate 7%
$179,814
Cap Rate 9%
$139,856
Alternative Uses
Best Use
Retail
$179.8K
$157.3K – $209.8K
NOI $12,587 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$301.9K
$264.2K – $352.2K
NOI $21,133 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
260
Businesses Nearby
Explore this area
Business Placement
Demographics for 30315, GA
34,327
Population
15,458
Households
2.2
Avg Household Size
34
Median Age
28%
College-Educated
82%
High-School Grad
11.5 sq mi
ZIP Area
2,985
Density / Sq Mi
$42,383
Median Household Income
$36,311
Median Earnings
$989
Median Rent
$266,200
Median Home Value
Market
Vacancy Rate% for Retail in Atlanta, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Corner commercial space offers updated interior in a C1C district allowing small-scale retail and service uses.
Where is this retail space located?
The property is located at 2647 Old Hapeville Road Atlanta, GA.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Corner commercial space on Cleveland Ave and Old Hapeville Road, just a few blocks from I‑75; Zoned C1C for small‑scale, pedestrian‑friendly commercial, retail, and service uses serving nearby residential neighborhoods; Completely updated interior; previously used as a single‑family residence
