Modern Live-Work Condo
For Sale
Contact for pricing
620 GLEN IRIS DR NE, Atlanta, GA 30308
Flexible live-work layout with industrial finishes, polished concrete floors, and dedicated areas for work and privacy.
Property Size1,205 SF
Price / SF$405.81
Days on Market93
Property Features for 620 GLEN IRIS DR NE
General Information
Standard status
Active
Size
1,205 SF
Class
B
Total Parking Spaces
1
Property subtype
Retail, Office, Mixed Use
Zoning
PD-MU
Investment Type
Owner/User
Building Details
Year Built
2005
Stories
1
Units
2
Tenancy
Single
Listing Agency:
Atlanta Commercial Real Estate Brokers
Listed By:
Lynne Cole · License #404031
Source:
Crexi
Added: Jun 2
Changed: Aug 14
Last Checked: Sep 2 at 2:33AM
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 Atlanta Commercial Real Estate Brokers
Investment Insights
Based on property information with market context.
Unit 106 at Ponce Springs Condos presents a modern live-work configuration designed for an owner-user or small business. The interior blends an industrial-inspired look with polished concrete floors, exposed concrete ceilings, high ceilings, and modern lighting. On the main level, the open kitchen and living/work area includes sleek cabinetry, stainless steel appliances, stone countertops, and a built-in dining or conference area. Large windows with modern window treatments provide natural light while maintaining privacy.
The unit also features furnished lounge, dining, and work areas that can translate easily into a boutique office, design or consulting studio, or a residential-style workspace. Private bedroom areas offer a loft-style feel with modern ceiling fans, neutral finishes, and generous closet storage. Updated bathrooms include wide vanities, stone countertops, oversized mirrors, and contemporary fixtures, supporting a turnkey comfort for both professional and personal use.
Ponce Springs is a mixed-use condominium community located in Atlanta’s Old Fourth Ward, near Ponce City Market and the Atlanta BeltLine Eastside Trail. With walkable access to restaurants, shopping, fitness, entertainment, and other intown amenities, the property suits professionals seeking an integrated work-and-life setup within a convenient, connected area.
The unit also features furnished lounge, dining, and work areas that can translate easily into a boutique office, design or consulting studio, or a residential-style workspace. Private bedroom areas offer a loft-style feel with modern ceiling fans, neutral finishes, and generous closet storage. Updated bathrooms include wide vanities, stone countertops, oversized mirrors, and contemporary fixtures, supporting a turnkey comfort for both professional and personal use.
Ponce Springs is a mixed-use condominium community located in Atlanta’s Old Fourth Ward, near Ponce City Market and the Atlanta BeltLine Eastside Trail. With walkable access to restaurants, shopping, fitness, entertainment, and other intown amenities, the property suits professionals seeking an integrated work-and-life setup within a convenient, connected area.
Key Highlights
- Unit 106 at Ponce Springs Condos built in 2005, offering a flexible live‑work layout
- Polished concrete floors, exposed concrete ceilings, high ceilings, and modern lighting throughout
- Main level includes an open kitchen and living/work area with stainless steel appliances, stone countertops, and sleek cabinetry
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
$16,136
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
3.30%
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%
$322,720
$322.7K
Cap Rate 7%
$230,514
$230.5K
Cap Rate 9%
$179,289
$179.3K
Market Conditions
NOI Build-Up for 1,205 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
$28.8K $23.87/SF
− Vacancy
−$7.2K −$6.02/SF
EGI
$21.5K $17.85/SF
− OpEx
−$5.4K −$4.46/SF
NOI
$16.1K $13.39/SF
Area
Atlanta, GA
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%
$322,720
Cap Rate 7%
$230,514
Cap Rate 9%
$179,289
Alternative Uses
Best Use
Office B
$230.5K
$201.7K – $268.9K
NOI $16,136 @ 7.0% cap · market cap 3.30%
Second Best
Mixed Use
$209.2K
$183.0K – $244.0K
NOI $14,641 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$336.8K
$294.7K – $393.0K
NOI $23,579 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,781
Businesses Nearby
Explore this area
Business Placement
Demographics for 30308, GA
22,121
Population
16,007
Households
1.4
Avg Household Size
32
Median Age
74%
College-Educated
97%
High-School Grad
1.6 sq mi
ZIP Area
13,826
Density / Sq Mi
$82,420
Median Household Income
$64,696
Median Earnings
$1,824
Median Rent
$387,300
Median Home Value
Market
Vacancy Rate% for Office in Atlanta, GA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Flexible live-work layout with industrial finishes, polished concrete floors, and dedicated areas for work and privacy.
Where is this live-work space located?
The property is located at 620 GLEN IRIS DR NE Atlanta, GA.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Unit 106 at Ponce Springs Condos built in 2005, offering a flexible live‑work layout; Polished concrete floors, exposed concrete ceilings, high ceilings, and modern lighting throughout; Main level includes an open kitchen and living/work area with stainless steel appliances, stone countertops, and sleek cabinetry
