Modern Loft in Old Fourth
For Sale
$355,000
395 Central Park Place NE #610, Atlanta, GA 30312
Stylish 2-bedroom condo near BeltLine and Ponce City Market.
Property Size1,349 SF
Price / SF$263.16
Days on Market429
Property Features for 395 Central Park Place NE #610
General Information
Standard status
Active
Size
1,349 SF
Property subtype
Condominium
Amenities
Security System
Central
Ceiling Fan(s)
Central Air
Forced Air
Natural Gas
Dishwasher
Disposal
Dryer
ENERGY STAR Qualified Appliances
Gas Range
Microwave
Refrigerator
Self Cleaning Oven
Washer
Deck, Cable Available, Electricity Available, Natural Gas Available, Sewer Available
Building Details
Building Size
1,349 SF
Year Built
2002
Listing Agency:
Knight & Drews
(619) 709-4262
Listed By:
First MLS · License #0225109217
(619) 709-4262
Source:
Kw
Added: Jun 19, 2025
Changed: Aug 16
Last Checked: Aug 21 at 2:30PM
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 Knight & Drews
Investment Insights
Based on property information with market context.
Located in Atlanta’s Old Fourth Ward, Central Park Lofts offers a sleek and stylish 2-bedroom, 2-bathroom high-rise condo. The open-concept loft layout features soaring ceilings, polished concrete floors, and floor-to-ceiling windows that provide natural light. The modern kitchen includes quartz countertops, stainless steel appliances, and a sit-in island. A private balcony offers city views. The primary suite includes an en-suite bath and walk-in closet. The property has an assigned parking spot in the underground garage and a storage unit. The building has 35 units and is located steps from the BeltLine, Ponce City Market, restaurants, cafes, and green spaces. The property is investor friendly and offers urban living and architectural character.
Key Highlights
- Prime Old Fourth Ward location: Steps from the BeltLine, Ponce City Market, restaurants, cafes, and green spaces.
- Modern, open‑concept loft with soaring ceilings, polished concrete floors, and floor‑to‑ceiling windows.
- Private balcony with breathtaking city views.
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
$14,880
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
4.19%
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%
$297,600
$297.6K
Cap Rate 7%
$212,571
$212.6K
Cap Rate 9%
$165,333
$165.3K
Market Conditions
NOI Build-Up for 1,349 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
$28.3K $21.00/SF
− Vacancy
−$1.3K −$0.95/SF
EGI
$27.1K $20.06/SF
− OpEx
−$12.2K −$9.02/SF
NOI
$14.9K $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%
$297,600
Cap Rate 7%
$212,571
Cap Rate 9%
$165,333
Alternative Uses
Best Use
Apartment 5plus
$212.6K
$186.0K – $248.0K
NOI $14,880 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$377.1K
$330.0K – $440.0K
NOI $26,397 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 30312, GA
25,435
Population
15,787
Households
1.6
Avg Household Size
34
Median Age
65%
College-Educated
92%
High-School Grad
3.3 sq mi
ZIP Area
7,708
Density / Sq Mi
$75,963
Median Household Income
$70,268
Median Earnings
$1,594
Median Rent
$493,800
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 - Stylish 2-bedroom condo near BeltLine and Ponce City Market.
Where is this apartment building located?
The property is located at 395 Central Park Place NE #610 Atlanta, GA.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Prime Old Fourth Ward location: Steps from the BeltLine, Ponce City Market, restaurants, cafes, and green spaces.; Modern, open‑concept loft with soaring ceilings, polished concrete floors, and floor‑to‑ceiling windows.; Private balcony with breathtaking city views.
