Updated Commercial Space Near
For Sale
Under Contract
$209,900
2647 Old Hapeville Road SW, Atlanta, GA 30315
Commercial Sale, Atlanta, GA
Property Size1,080 SF
Lot Size0.33 Acres
Price / SF$194.35
Days on Market144
Property Features for 2647 Old Hapeville Road SW
General Information
Property type
Residential
Property subtype
Office
Zoning
C1C
Parking
2
Parking features
Parking Lot
Window features
Insulated Windows
Interior features
Recessed Lighting, Restrooms
Fencing
Chain Link
Lot features
Level
Directions
From I-75 take Cleveland AVE East to left on Old Hapeville
Standard status
Active Under Contract
APN
14 006900050129
Size
1,080 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4091
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1955
Floors in Building
1
Flooring type
Vinyl
Building materials
Brick
Roof type
Asphalt
Listing Agency:
REMAX Around Atlanta · RE/MAX International
(404) 592-5750
Listed By:
CARSON PICKENS · License #176200
(404) 384-6963
Added: Apr 3
Changed: Aug 19
Last Checked: Aug 24 at 7:06AM
MLS# 7746732
Copyright © 2026 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial space is located on the corner of Cleveland Ave and Old Hapeville Road, a few blocks from I-75. The property is zoned C1C, which allows for small-scale, pedestrian-friendly commercial, retail, and service activities designed to serve the surrounding residential neighborhoods. The property size is 1080 square feet and the lot size is 0.3302 acres. Previously used as a single-family residence, the property has been completely updated, presenting an opportunity to own an affordable commercial space in Atlanta, GA.
Key Highlights
- Affordable commercial space opportunity.
- Zoned C1C for pedestrian‑friendly commercial, retail, and service activities.
- Conveniently located on the corner of Cleveland Ave and Old Hapeville Road, near I‑75.
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
$11,913
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
5.68%
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%
$238,260
$238.3K
Cap Rate 7%
$170,186
$170.2K
Cap Rate 9%
$132,367
$132.4K
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
$22.7K $21.00/SF
− Vacancy
−$1.0K −$0.95/SF
EGI
$21.7K $20.06/SF
− OpEx
−$9.7K −$9.02/SF
NOI
$11.9K $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%
$238,260
Cap Rate 7%
$170,186
Cap Rate 9%
$132,367
Alternative Uses
Best Use
Apartment 5plus
$170.2K
$148.9K – $198.6K
NOI $11,913 @ 7.0% cap · market cap 5.68%
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
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Affordable commercial space near I-75, suitable for retail/office.
Where is this single family property located?
The property is located at 2647 Old Hapeville Road SW 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: Affordable commercial space opportunity.; Zoned C1C for pedestrian‑friendly commercial, retail, and service activities.; Conveniently located on the corner of Cleveland Ave and Old Hapeville Road, near I‑75.
