Flex Building with High
New
For Sale
$5,000,000
274 Highway 138 SW, Riverdale, GA 30274
SINGLE_FAMILY - Riverdale, GA
Property Size41,800 SF
Lot Size7.60 Acres
Price / SF$119.62
Days on Market1
Property Features for 274 Highway 138 SW
General Information
Property type
Residential
Property subtype
Retail
Zoning
NC
Parking
528
Parking features
Parking Lot
Window features
Insulated Windows
Interior features
High Ceilings 10 or Greater, Reception Area, Restrooms
Accessibility
Accessible Approach with Ramp
Lot features
Level, Shopping Center
View
City
Directions
Use google maps
Standard status
Active
Size
41,800 SF
Lot size
7.60 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
68613
Utilities
Utilities
Cable Available
Heating system
Electric (Heating), Central
Cooling system
Central Air
Building Details
Year built
1986
Floors in Building
1
Flooring type
Carpet
Building materials
Frame
Roof type
Metal
Additional Structures
Other
Listing Agency:
Homesmart Realty Partners · HomeSmart International
(404) 419-1004
Listed By:
Anhad Chawla · License #443303
(678) 999-6311
Added: Aug 4
Last Checked: Aug 4 at 7:06PM
MLS# 7815735
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.
The property comprises a 41,800-square-foot flex building on 7.6 acres at 274 Highway 138 SW in Riverdale, Georgia. Originally constructed as a movie theater, the building includes 16 screens or auditoriums that may support movie studio, warehouse, or office use. Interior features include ceilings 10 feet or greater, a reception area, restrooms, carpeted areas, central heating and cooling, and a metal roof. Frame construction and an accessible approach with ramp are also provided.
The site is approximately 9 miles from Atlanta Hartsfield-Jackson International Airport and includes a parking lot. Zoning is NC, with cable available. Site plans and a tax plat are included in the other documents. The property is not available for access or viewings, and the occupant should not be disturbed.
The site is approximately 9 miles from Atlanta Hartsfield-Jackson International Airport and includes a parking lot. Zoning is NC, with cable available. Site plans and a tax plat are included in the other documents. The property is not available for access or viewings, and the occupant should not be disturbed.
Key Highlights
- 41,800‑square‑foot warehouse building on 7.6 acres
- Approximately 9 miles from Atlanta Hartsfield‑Jackson International Airport
- Originally constructed as a movie theater with 16 screens/auditoriums
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $396.3k | $9.48 |
| − Vacancy | −$35.3k | −$0.84 |
| EGI | $361.0k | $8.64 |
| − OpEx | −$54.1k | −$1.30 |
| NOI | $306.8k | $7.34 |
41,800 SF · lease $9.48/SF/yr · vacancy 8.90% · expense 15.00%
Alternative Uses
Best Use
Office B
$8.00M
$7.00M – $9.33M
NOI $559,747 @ 7.0% cap · market cap 11.19%
Second Best
Warehouse
$4.38M
$3.84M – $5.11M
NOI $306,847 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$11.68M
$10.22M – $13.63M
NOI $817,929 @ 7.0% cap · market cap 16.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
267
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 30274, GA
34,537
Population
14,299
Households
2.4
Avg Household Size
34
Median Age
21%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
3,386
Density / Sq Mi
$50,455
Median Household Income
$33,141
Median Earnings
$1,241
Median Rent
$157,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Doz'ia Catering — 517 GA-138 Suite 6, Riverdale, GA 30274
- Eventful Memories, LLC — 517 GA-138, Riverdale, GA 30274
- Tasteful Innovations — 517 GA-138 Suite 6, Riverdale, GA 30274
- Smack ya mama catering — 1411 Wynthrope Cove, Riverdale, GA 30274
- Mack and Taste Co — 7857 Taylor Downs Way, Riverdale, GA 30274
Frequently Asked Questions
What type of property is this?
Flex space - Large-format flex property with auditorium configuration, office areas, restrooms, and a dedicated parking lot.
Where is this flex space located?
The property is located at 274 Highway 138 SW Riverdale, GA.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: 41,800‑square‑foot warehouse building on 7.6 acres; Approximately 9 miles from Atlanta Hartsfield‑Jackson International Airport; Originally constructed as a movie theater with 16 screens/auditoriums
