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    Prime Athens Development Opportunity Title is generated by Realmo AI

    600 Pulaski Street, Athens, GA 30601

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    For Sale
    $3,999,000

    2.65 acres for mixed-use development near Downtown Athens, GA.

    Type:Lots & Land
    Property size:
    9,000 SF
    Lot size:
    2.65 Acres
    Price / SF:
    $444/SF
    Added:
    Jul 10, 2025
    Days on Market:
    332
    Last Refresh:
    Apr 5 at 9:28 pm

    Property Features for 600 Pulaski Street

    General Information

    Standard status
    Active
    Size
    9,000 SF
    Lot size
    2.65 Acres
    Property subtype
    Lots & Land

    We can help!

    Listing Contact
    Stephanie Leathers
    Stephanie Leathers

    Listing agent Stephanie Leathers License #243115

    Listing office Athens

    Listing date Jul 10, 2025

    Source Corcoran

    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 Athens

    HighLights

    • "Shovel‑ready" development opportunity with completed architectural plans and civil engineering for 16 townhomes and adaptive reuse of a 9,000 SF warehouse.
    • Prime location in the desirable Pulaski Heights neighborhood, walkable to Downtown Athens, UGA, Sanford Stadium, and the Pulaski Heights Trail.
    • Approved plans for 16 townhomes (six 2‑bed, ten 3‑bed) with modern, loft‑style designs, rooftop decks, and downtown views.
    • Adaptive reuse opportunity for the existing Cotton Seed Oil warehouse into 9 office and/or restaurant spaces.
    • Townhome designs feature 3 levels of living space, soaring ceilings, abundant natural light, and 2‑car garages; some plans include elevators.
    • Proximity to downtown amenities, including restaurants, retail, and offices, fostering a strong sense of community.

    Overview

    This 2.65-acre property presents a townhome and mixed-use development opportunity within walking distance of Downtown Athens, GA. Architectural plans and civil engineering are complete for the new construction of 16 townhomes, including six 2-bedroom and ten 3-bedroom units featuring four floor plans with variations. The site also offers an adaptive re-use opportunity for an existing approximately 9,000 SF Cotton Seed Oil warehouse. Proposed redesign of the warehouse includes 9 office and/or restaurant spaces. Located in the Pulaski Heights neighborhood, less than a mile from Downtown Athens, the site is near modern, architecturally significant homes, renovated mill cottages, art, dining, and shopping. The Pulaski Heights Neighborhood is described as the west-end gateway to Downtown, and is within walking distance of Downtown Athens shopping and dining, The Leathers Building, The Bottleworks, The University of Georgia, and Sanford Stadium. Future townhome residents will have pedestrian access to Downtown restaurants, retail, offices, and UGA. The property is steps away from the Pulaski Heights Trail, a paved multi-use walk/bike path connecting Pulaski Heights to Downtown. The sale includes architectural plans by Bork Design and site work by Josh Koons, with Koons Environmental. The LDP has been submitted to Athens-Clarke Co. The townhouse design features modern loft-style space with rooftop decks and views of Downtown Athens, soaring ceilings and windows with abundant natural light, 3 levels of living space with rooftop indoor & outdoor living, expansive views, elevators in some plans, & 2 car garages. The existing Cotton Seed Oil Warehouse on site will be developed as commercial office. Legal documents, including Condo Assoc Documents & Bylaws, Purchase & Sale Agreement and Reservation Agreements are almost complete, making this a "shovel ready" opportunity.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Clarke
    State
    Georgia
    Longitude
    -83.3809
    Latitude
    33.9645

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    FAQs

    What type of property is this?
    Commercial land - 2.65 acres for mixed-use development near Downtown Athens, GA.
    Where is this commercial land located?
    The property is located at 600 Pulaski Street Athens, GA.
    What is the asking price?
    The asking price for this property is $3,999,000.
    What are key features of this property?
    This property features: "Shovel‑ready" development opportunity with completed architectural plans and civil engineering for 16 townhomes and adaptive reuse of a 9,000 SF warehouse.; Prime location in the desirable Pulaski Heights neighborhood, walkable to Downtown Athens, UGA, Sanford Stadium, and the Pulaski Heights Trail.; Approved plans for **16 townhomes** (six 2‑bed, ten 3‑bed) with modern, loft‑style designs, **rooftop decks, and downtown views.**
    (706) 559-4520
    We can help!
    Listing Contact
    Stephanie Leathers
    Stephanie Leathers
    Real Estate License ID: 243115
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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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