Office Building with Two-Car
New
For Sale
$620,000
3147 Shallowford Road, Atlanta, GA 30341
Former attorney’s office with residential improvements, O/I zoning, secured outdoor areas, and a fish pond.
Property Size1,956 SF
Price / SF$192.55
Days on Market6
Property Features for 3147 Shallowford Road
General Information
Standard status
Active
Size
1,956 SF
Total Parking Spaces
2
Property subtype
Other
Zoning
O/I
Amenities
high fences
gate to back yard
coy fish pond
0.3 acres, City Lot, Level, Near Public Transit
Public Sewer
Annual Amount: $5,094, Year: 2024
Central Air, Electric, Fans
Central, Natural Gas
Cumulative Days on Market: 2, 2 days on market, On Market Date: 2026-08-19
Paved
Built in 1956, Frame, Wood Siding
County: DeKalb
Fixer
Cable Available, Electricity Available, High Speed Internet, Natural Gas Available, Sewer Available, Underground Utilities, Public
Negotiable
Building Details
Building Size
1,956 SF
Year Built
1956
Abandoned
No
Listing Agency:
Empire Realty Group Inc
(678) 525-6776
Listed By:
Tim Lam · License #274348
(678) 525-6776
Source:
Blackstreaminternational
Added: Aug 19
Changed: Aug 24
Last Checked: Aug 23 at 7:34AM
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 Empire Realty Group Inc
Investment Insights
Based on property information with market context.
Located at 3147 Shallowford Road NE in Atlanta, this O/I-zoned office property was previously used as an attorney’s office and is currently being used as a residence for the property manager. The building includes four bedrooms and 3.5 bathrooms, along with a two-car garage.
Exterior features include high fencing, a gate providing access to the backyard, and a fish pond. The combination of former professional-office use, residential-style rooms, garage parking, and enclosed outdoor areas creates a property with a distinctive existing configuration.
Exterior features include high fencing, a gate providing access to the backyard, and a fish pond. The combination of former professional-office use, residential-style rooms, garage parking, and enclosed outdoor areas creates a property with a distinctive existing configuration.
Key Highlights
- O/I zoning
- Former attorney’s office
- Four bedrooms and 3.5 bathrooms
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
$43,119
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
6.95%
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%
$862,380
$862.4K
Cap Rate 7%
$615,986
$616.0K
Cap Rate 9%
$479,100
$479.1K
Market Conditions
NOI Build-Up for 3,220 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
$76.9K $23.87/SF
− Vacancy
−$19.4K −$6.02/SF
EGI
$57.5K $17.85/SF
− OpEx
−$14.4K −$4.46/SF
NOI
$43.1K $13.39/SF
Area
Atlanta, GA
Vacancy
25.20%
Lease Rate
$23.87 /SF/Yr
Expense Ratio
25.00%
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%
$862,380
Cap Rate 7%
$615,986
Cap Rate 9%
$479,100
Alternative Uses
Best Use
Office B
$616.0K
$539.0K – $718.7K
NOI $43,119 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$900.1K
$787.6K – $1.05M
NOI $63,008 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
935
Businesses Nearby
Explore this area
Business Placement
Demographics for 30341, GA
35,959
Population
15,347
Households
2.3
Avg Household Size
33
Median Age
54%
College-Educated
86%
High-School Grad
10.0 sq mi
ZIP Area
3,596
Density / Sq Mi
$81,774
Median Household Income
$55,563
Median Earnings
$1,746
Median Rent
$438,500
Median Home Value
Market
Vacancy Rate% for Office in Atlanta, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Former attorney’s office with residential improvements, O/I zoning, secured outdoor areas, and a fish pond.
Where is this office building located?
The property is located at 3147 Shallowford Road Atlanta, GA.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: O/I zoning; Former attorney’s office; Four bedrooms and 3.5 bathrooms
