Buckhead Condo with Modern
For Sale
$305,500
2865 Lenox Road NE #302, Atlanta, GA 30324
Updated condo in Buckhead near Lenox Mall and local parks.
Property Size1,274 SF
Price / SF$239.80
Days on Market379
Property Features for 2865 Lenox Road NE #302
General Information
Standard status
Active
Size
1,274 SF
Property subtype
Condominium
Amenities
Security System
Forced Air
Ceiling Fan(s)
Central Air
Electric
Central
Dishwasher
Disposal
Dryer
Electric Cooktop
Electric Oven
Microwave
Refrigerator
Washer
Deck, Patio, Pool, Porch, Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Underground Utilities, Water Available, Asbestos Shingle
Building Details
Building Size
1,274 SF
Year Built
2002
Listing Agency:
HomeSmart
(770) 331-6469
Listed By:
First MLS · License #0706074
(770) 331-6469
Source:
Kw
Added: Aug 1, 2025
Changed: Aug 8
Last Checked: Aug 8 at 4:43AM
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 HomeSmart
Investment Insights
Based on property information with market context.
This updated condo is located in the Buckhead neighborhood of Atlanta, near Lenox Mall, local parks, and restaurants. The property features an open-concept floor plan with luxury vinyl plank flooring, a living room with a fireplace, and a dining area with freshly painted walls and a built-in coffee bar. A separate sunroom can serve as a home office or reading nook and provides access to a private balcony. The kitchen includes stainless steel appliances, granite countertops, a tile backsplash, a breakfast bar, and a pantry. The primary suite accommodates a king-size bed and includes two oversized closets and an en-suite bathroom with a walk-in tiled shower, rain shower, handheld sprayer, and a double-sink vanity with lighted mirrors. The split-bedroom layout offers privacy, and the second bedroom has closet space and an adjacent full bathroom. A washer and dryer are included with the unit. Residents have access to amenities such as a saltwater pool, a fitness center, and a business center. The building also features a small private park with a creek and a cul-de-sac. The property has a gated entrance and controlled access. There are 2 assigned parking spaces. The property size is 1274 square feet.
Key Highlights
- Prime Buckhead location: Walkable to Lenox Mall, MARTA, parks, and restaurants.
- Enjoy resort‑style amenities: saltwater pool, fitness center, business center, and private park.
- Updated primary suite featuring a spa‑inspired en‑suite bathroom with a walk‑in tiled shower, rain shower, and double‑sink vanity.
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
$14,053
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
4.60%
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%
$281,060
$281.1K
Cap Rate 7%
$200,757
$200.8K
Cap Rate 9%
$156,144
$156.1K
Market Conditions
NOI Build-Up for 1,274 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
$26.8K $21.00/SF
− Vacancy
−$1.2K −$0.95/SF
EGI
$25.6K $20.06/SF
− OpEx
−$11.5K −$9.02/SF
NOI
$14.1K $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%
$281,060
Cap Rate 7%
$200,757
Cap Rate 9%
$156,144
Alternative Uses
Best Use
Apartment 5plus
$200.8K
$175.7K – $234.2K
NOI $14,053 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.1K
$311.6K – $415.5K
NOI $24,929 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,768
Businesses Nearby
Explore this area
Business Placement
Demographics for 30324, GA
30,942
Population
18,232
Households
1.7
Avg Household Size
34
Median Age
75%
College-Educated
98%
High-School Grad
5.3 sq mi
ZIP Area
5,838
Density / Sq Mi
$93,815
Median Household Income
$70,026
Median Earnings
$1,759
Median Rent
$505,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated condo in Buckhead near Lenox Mall and local parks.
Where is this apartment building located?
The property is located at 2865 Lenox Road NE #302 Atlanta, GA.
What is the asking price?
The asking price for this property is $305,500.
What are key features of this property?
This property features: Prime Buckhead location: Walkable to Lenox Mall, MARTA, parks, and restaurants.; Enjoy resort‑style amenities: saltwater pool, fitness center, business center, and private park.; Updated primary suite featuring a spa‑inspired en‑suite bathroom with a walk‑in tiled shower, rain shower, and double‑sink vanity.
