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    Gasket City Loft Residence Title is generated by Realmo AI

    490 Marietta Street NW #101, Atlanta, GA 30313

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    For Sale
    $588,000

    Exclusive loft with industrial history, upscale design, and urban convenience.

    Type:Condominium
    Property size:
    2,144 SF
    Price / SF:
    $274/SF
    Added:
    Jul 11, 2025
    Days on Market:
    318
    Last Refresh:
    May 19 at 10:22 pm

    Property Features for 490 Marietta Street NW #101

    General Information

    Standard status
    Active
    Size
    2,144 SF
    Property subtype
    Condominium

    Building Details

    Year Built
    1945

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    Listing Contact
    First MLS
    First MLS

    Listing agent First MLS License #6501299700

    Listing office Bolst

    Listing date Jul 11, 2025

    Source Kw

    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 Bolst

    HighLights

    • Exclusive loft in historic Gasket City Lofts building with only 30 residences.
    • Oversized corner unit featuring original exposed brick, soaring beamed ceilings, and hardwood floors.
    • Chef's kitchen with stainless steel appliances, granite countertops, beverage fridge, and butler's pantry.
    • Private, enclosed patio with direct access to two reserved parking spaces.
    • Primary suite with spa‑style bathroom including jetted soaking tub, separate shower, double vanity, and custom walk‑in closet.
    • Rooftop terrace with views of Midtown and Downtown, near Mercedes‑Benz Stadium, State Farm Arena, dining, and entertainment.

    Overview

    Located in Atlanta, this property is Unit 101 in the Gasket City Lofts, a boutique building featuring 30 exclusive residences. The oversized corner loft retains original exposed brick, soaring beamed ceilings, and hardwood floors, complemented by a sculptural spiral staircase and contemporary upgrades. The chef’s kitchen includes stainless steel appliances, granite countertops, a beverage fridge, and a butler’s pantry. The primary suite features a spa-style retreat with a jetted soaking tub, separate shower, double vanity, and a custom walk-in closet. Smart home upgrades include motorized shades and energy-efficient windows. A private, enclosed patio offers direct access to two reserved parking spaces. The building provides an expansive rooftop terrace with views of Midtown and Downtown. The property is located steps away from Mercedes-Benz Stadium, State Farm Arena, and various dining and entertainment options. The property size is 2144 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kiké Morales wedding ... Wedding Service Gasket Lofts Condominium Complex EDI Watch Inc (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Atlanta
    County
    Cobb
    State
    Georgia
    Longitude
    -84.3979291
    Latitude
    33.7666209

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    FAQs

    What type of property is this?
    Apartment building - Exclusive loft with industrial history, upscale design, and urban convenience.
    Where is this apartment building located?
    The property is located at 490 Marietta Street NW #101 Atlanta, GA.
    What is the asking price?
    The asking price for this property is $588,000.
    What are key features of this property?
    This property features: Exclusive loft in historic Gasket City Lofts building with only 30 residences.; Oversized corner unit featuring original exposed brick, soaring beamed ceilings, and hardwood floors.; Chef's kitchen with stainless steel appliances, granite countertops, beverage fridge, and butler's pantry.
    (404) 984-2002
    We can help!
    Listing Contact
    First MLS
    First MLS
    Real Estate License ID: 6501299700
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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