Commercial Land Near
For Sale
$350,000
319 West Lake Avenue, Atlanta, GA 30318
Westside Atlanta commercial land with access to major roadways, public transportation, and established entertainment and business districts.
Property Size1,983 SF
Days on Market52
Property Features for 319 West Lake Avenue
General Information
Standard status
Active
Size
1,983 SF
Property subtype
Other
Amenities
0.21 acres, Level
Chain Link
Public Sewer
Annual Amount: $5,988, Year: 2025
Cumulative Days on Market: 50, 50 days on market, On Market Date: 2026-07-27
Parking Total: 13, Parking Lot
Built in 1983, Brick, Concrete, Office
County: Fulton
Fixer
Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Underground Utilities, Water Available, Public
Close Of Escrow
Water body: NONE
Building Details
Building Size
1,983 SF
Year Built
1983
Listing Agency:
Partners Management
(404) 876-8700
Listed By:
Adon Williams
(404) 543-7654
Source:
Blackstreaminternational
Added: Jul 27
Changed: Sep 15
Last Checked: Sep 15 at 7:12AM
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 Partners Management
Investment Insights
Based on property information with market context.
Commercial land at 319 West Lake Avenue NW in Atlanta’s Westside, positioned near Downtown Atlanta and Midtown. The property offers access to I-20, I-285, Northside Drive, Joseph E. Boone Boulevard, and Donald Lee Hollowell Parkway, supporting connections across the Atlanta area.
West Lake MARTA Station is nearby, providing public transportation access. Surrounding destinations include Mercedes-Benz Stadium, State Farm Arena, Georgia World Congress Center, Georgia Tech, the Atlanta University Center, and Westside Park. The property is also near West End and West Midtown commercial districts, Lee + White, The Works at Upper Westside, Westside Provisions District, and a range of restaurants, breweries, coffee shops, retail centers, and entertainment venues.
West Lake MARTA Station is nearby, providing public transportation access. Surrounding destinations include Mercedes-Benz Stadium, State Farm Arena, Georgia World Congress Center, Georgia Tech, the Atlanta University Center, and Westside Park. The property is also near West End and West Midtown commercial districts, Lee + White, The Works at Upper Westside, Westside Provisions District, and a range of restaurants, breweries, coffee shops, retail centers, and entertainment venues.
Key Highlights
- 319 West Lake Avenue NW, Atlanta, GA 30318
- Access to I‑20, I‑285, Northside Drive, Joseph E. Boone Boulevard, and Donald Lee Hollowell Parkway
- Nearby West Lake MARTA Station provides public transportation access
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
$26,554
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
7.59%
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%
$531,080
$531.1K
Cap Rate 7%
$379,343
$379.3K
Cap Rate 9%
$295,044
$295.0K
Market Conditions
NOI Build-Up for 1,983 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
$47.3K $23.87/SF
− Vacancy
−$11.9K −$6.02/SF
EGI
$35.4K $17.85/SF
− OpEx
−$8.9K −$4.46/SF
NOI
$26.6K $13.39/SF
Area
ZIP 30318
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%
$531,080
Cap Rate 7%
$379,343
Cap Rate 9%
$295,044
Alternative Uses
Best Use
Office B
$379.3K
$331.9K – $442.6K
NOI $26,554 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$554.3K
$485.0K – $646.7K
NOI $38,803 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
358
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
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Market
Vacancy Rate% for Office in Atlanta, GA
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Frequently Asked Questions
What type of property is this?
Commercial land - Westside Atlanta commercial land with access to major roadways, public transportation, and established entertainment and business districts.
Where is this commercial land located?
The property is located at 319 West Lake Avenue Atlanta, GA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 319 West Lake Avenue NW, Atlanta, GA 30318; Access to I‑20, I‑285, Northside Drive, Joseph E. Boone Boulevard, and Donald Lee Hollowell Parkway; Nearby West Lake MARTA Station provides public transportation access
