Two-Building Retail and Automotive
For Sale
$950,000
2667 Donald Lee Hollowell Pkwy, Atlanta, GA 30318
Two buildings include three occupied retail spaces and a renovated 4-bay automotive garage building on a half-acre site.
Property Size5,600 SF
Lot Size0.50 Acres
Price / SF$169.64
Days on Market48
Property Features for 2667 Donald Lee Hollowell Pkwy
General Information
Standard status
Active
Size
5,600 SF
Lot size
0.50 Acres
Zoning
MRC-2
Additional Details
Service Bays
4
Building Details
Year Built
1988
Listing Agency:
Keller Williams Realty Buckhead
Listed By:
Keith Sharp · License #176306
(410) 703-5448
Source:
Harmonandharmon
Added: Jul 21
Changed: Sep 2
Last Checked: Sep 6 at 12:38PM
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 Keller Williams Realty Buckhead
Investment Insights
Based on property information with market context.
This two-building commercial property offers a mix of stabilized retail income and renovated automotive space. Building #1 includes three retail spaces with stable tenants within a 2,700 SF retail structure, providing immediate occupancy. Building #2 is a renovated automotive building with a 4-bay garage; it is 2,900 SF and currently vacant.
The property sits on a half-acre parcel and is zoned MRC-2 (Mixed Residential and Commercial), which allows up to 3.149 FAR, including up to 38,000 SF residential and 64,000 SF non-residential depending on use and parking requirements. The site is located across from the historic Collier Heights neighborhood, near ongoing redevelopment in Carey Park and Almond Park, and directly adjacent to the $64 million Bowen Homes Redevelopment Site, with major activity at the Jackson Parkway and Hamilton Holmes intersection. The Hollowell Parkway corridor is described as poised for redevelopment, including the “Hollowell Innovation District” and nearby mixed-use activity along the corridor.
Showings are arranged by appointment; please do not disturb tenants.
The property sits on a half-acre parcel and is zoned MRC-2 (Mixed Residential and Commercial), which allows up to 3.149 FAR, including up to 38,000 SF residential and 64,000 SF non-residential depending on use and parking requirements. The site is located across from the historic Collier Heights neighborhood, near ongoing redevelopment in Carey Park and Almond Park, and directly adjacent to the $64 million Bowen Homes Redevelopment Site, with major activity at the Jackson Parkway and Hamilton Holmes intersection. The Hollowell Parkway corridor is described as poised for redevelopment, including the “Hollowell Innovation District” and nearby mixed-use activity along the corridor.
Showings are arranged by appointment; please do not disturb tenants.
Key Highlights
- Two‑building commercial property on a 0.5‑acre parcel (built in 1988).
- Building #1: 2,700 SF retail building with 3 occupied retail spaces and stable tenants.
- Building #2: 2,900 SF vacant renovated automotive building with a 4‑bay garage.
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
$78,766
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
8.29%
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%
$1,575,320
$1.6M
Cap Rate 7%
$1,125,229
$1.1M
Cap Rate 9%
$875,178
$875.2K
Market Conditions
NOI Build-Up for 5,600 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
$123.0K $21.96/SF
− Vacancy
−$10.5K −$1.87/SF
EGI
$112.5K $20.09/SF
− OpEx
−$33.8K −$6.03/SF
NOI
$78.8K $14.07/SF
Area
ZIP 30318
Vacancy
8.50%
Lease Rate
$21.96 /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%
$1,575,320
Cap Rate 7%
$1,125,229
Cap Rate 9%
$875,178
Alternative Uses
Best Use
Retail
$1.13M
$984.6K – $1.31M
NOI $78,766 @ 7.0% cap · market cap 8.29%
Second Best
Industrial
$447.4K
$391.5K – $522.0K
NOI $31,317 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,579 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Service bays
Location Intelligence
Trade Area within ½ mile
317
Businesses Nearby
Explore this area
Business Placement
Demographics for 30318, GA
60,392
Population
29,993
Households
2
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
20.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$79,222
Median Household Income
$53,455
Median Earnings
$1,702
Median Rent
$395,100
Median Home Value
Market
Vacancy Rate% for Retail in Atlanta, GA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Two buildings include three occupied retail spaces and a renovated 4-bay automotive garage building on a half-acre site.
Where is this retail space located?
The property is located at 2667 Donald Lee Hollowell Pkwy Atlanta, GA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two‑building commercial property on a 0.5‑acre parcel (built in 1988).; Building #1: 2,700 SF retail building with 3 occupied retail spaces and stable tenants.; Building #2: 2,900 SF vacant renovated automotive building with a 4‑bay garage.
