C-1 Storefront
For Sale
$400,000
3007 Memorial Dr SE, Atlanta, GA 30317
Commercial building offered with an adjoining vacant lot at 3009 Memorial Drive.
Property Size1,357 SF
Price / SF$294.77
Days on Market51
Property Features for 3007 Memorial Dr SE
General Information
Standard status
Active
Size
1,357 SF
Building Details
Year Built
1940
Listing Agency:
Keller Knapp, Inc
(678) 358-4321
Listed By:
Weslee Knapp · License #256597
Source:
Brockteam
Added: Jul 12
Changed: Aug 30
Last Checked: Aug 30 at 8:10PM
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 Knapp, Inc
Investment Insights
Based on property information with market context.
The property at 3007 Memorial Dr SE in Atlanta comprises a 1,357-square-foot commercial building constructed in 1940. The building is zoned C-1 and is offered together with the vacant parcel next door at 3009 Memorial Drive, identified as parcel 15-183-24-027.
Key Highlights
- 1,357‑square‑foot commercial building
- Constructed in 1940
- C‑1 zoning
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
$15,816
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
3.95%
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%
$316,320
$316.3K
Cap Rate 7%
$225,943
$225.9K
Cap Rate 9%
$175,733
$175.7K
Market Conditions
NOI Build-Up for 1,357 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
$24.4K $18.00/SF
− Vacancy
−$1.8K −$1.35/SF
EGI
$22.6K $16.65/SF
− OpEx
−$6.8K −$5.00/SF
NOI
$15.8K $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%
$316,320
Cap Rate 7%
$225,943
Cap Rate 9%
$175,733
Alternative Uses
Best Use
Retail
$225.9K
$197.7K – $263.6K
NOI $15,816 @ 7.0% cap · market cap 3.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$379.3K
$331.9K – $442.6K
NOI $26,553 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
433
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30317, GA
13,774
Population
7,220
Households
1.9
Avg Household Size
36
Median Age
61%
College-Educated
95%
High-School Grad
3.5 sq mi
ZIP Area
3,935
Density / Sq Mi
$105,190
Median Household Income
$64,968
Median Earnings
$1,619
Median Rent
$510,600
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?
Storefront property - Commercial building offered with an adjoining vacant lot at 3009 Memorial Drive.
Where is this storefront property located?
The property is located at 3007 Memorial Dr SE Atlanta, GA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 1,357‑square‑foot commercial building; Constructed in 1940; C‑1 zoning
