Centennial Olympic Park Development
For Sale
$11,500,000
355 Centennial Olympic Park Drive, Atlanta, GA 30313
0.81-acre parcel for high-rise development near Centennial Olympic Park.
Property Size162,772 SF
Lot Size0.81 Acres
Price / SF$70.65
Days on Market253
Property Features for 355 Centennial Olympic Park Drive
General Information
Standard status
Active
Size
162,772 SF
Lot size
0.81 Acres
Property subtype
Multifamily
Zoning
SPI-1 SA5
Listing Agency:
Bull Realty
Listed By:
Michael Bull, CCIM
(404) 876-1640
Source:
Bullrealty
Added: Jan 27
Changed: Sep 11
Last Checked: Oct 5 at 4:36PM
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 Bull Realty
Investment Insights
Based on property information with market context.
Located directly adjacent to Centennial Olympic Park in downtown Atlanta, this approximately 0.81-acre corner parcel presents a development opportunity for a high-rise multifamily, mixed-use, or hospitality project. The site benefits from park and skyline views, including unobstructed sunset vistas. It is situated in Atlanta’s tourism and entertainment district. The site is shovel-ready for a 188-key, approximately 162,772 square feet hotel, with full construction plans and entitlements already in place. The flexible SPI-1 SA5 zoning supports high-density multifamily, office, retail, or mixed-use development. The topography features a slightly rising eastward slope, suitable for structured parking and vertical development. The site is within walking distance of Centennial Olympic Park, Georgia Aquarium, World of Coca-Cola, Mercedes-Benz Stadium, State Farm Arena, Georgia World Congress Center, and various dining, entertainment, and cultural attractions. The Walk Score is 90, indicating a Walker’s Paradise, and the Transit Score is 78, reflecting excellent transit access. The property generates an income of $5,000 to $12,000 per month from existing parking. The location benefits from tourism, convention, sports, and entertainment demand drivers.
Key Highlights
- Premier location directly adjacent to Centennial Olympic Park in downtown Atlanta with exceptional park, skyline, and sunset views.
- Shovel‑ready for a 188‑key hotel (±162,772 SF) with full construction plans and entitlements in place, significantly reducing development time and risk.
- Flexible SPI‑1 SA5 zoning supports high‑density development for hotel, multifamily, office, retail, or mixed‑use projects.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$979,757
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,595,140
$19.6M
Cap Rate 7%
$13,996,529
$14.0M
Cap Rate 9%
$10,886,189
$10.9M
Market Conditions
NOI Build-Up for 162,772 SF
Gross rent
$2.34M $14.40/SF
− Vacancy
−$281.3K −$1.73/SF
EGI
$2.06M $12.67/SF
− OpEx
−$1.08M −$6.65/SF
NOI
$979.8K $6.02/SF
Area
Atlanta, GA
Vacancy
12.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,595,140
Cap Rate 7%
$13,996,529
Cap Rate 9%
$10,886,189
Alternative Uses
Best Use
Mixed Use
$28.25M
$24.72M – $32.96M
NOI $1,977,680 @ 7.0% cap · market cap 17.20%
Second Best
Retail
$27.10M
$23.71M – $31.62M
NOI $1,897,108 @ 7.0% cap · market cap 16.50%
Theoretical Best
Office A
$45.50M
$39.81M – $53.08M
NOI $3,185,070 @ 7.0% cap · market cap 27.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
9,128
Businesses Nearby
Explore this area
Business Placement
Demographics for 30313, GA
9,788
Population
3,604
Households
2.7
Avg Household Size
26
Median Age
55%
College-Educated
95%
High-School Grad
1.2 sq mi
ZIP Area
8,157
Density / Sq Mi
$79,068
Median Household Income
$33,832
Median Earnings
$1,696
Median Rent
$365,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Atlanta, GA
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Frequently Asked Questions
What type of property is this?
Commercial land - 0.81-acre parcel for high-rise development near Centennial Olympic Park.
Where is this commercial land located?
The property is located at 355 Centennial Olympic Park Drive Atlanta, GA.
What is the asking price?
The asking price for this property is $11,500,000.
What are key features of this property?
This property features: Premier location directly adjacent to Centennial Olympic Park in downtown Atlanta with exceptional park, skyline, and sunset views.; Shovel‑ready for a 188‑key hotel (±162,772 SF) with full construction plans and entitlements in place, significantly reducing development time and risk.; Flexible SPI‑1 SA5 zoning supports high‑density development for hotel, multifamily, office, retail, or mixed‑use projects.
