Three-Unit
New
For Sale
$599,000
790 Pat Mell Road SE, Smyrna, GA 30080
All three residences are currently leased and occupied.
Property Size2,484 SF
Lot Size0.17 Acres
Price / SF$241.14
Days on Market2
Property Features for 790 Pat Mell Road SE
General Information
Standard status
Active
Size
2,484 SF
Lot size
0.17 Acres
Property subtype
Multi-Family
Occupancy
100%
Financials
Asking Price
$599,000
Gross Income
$54,000
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
2004
Buildings
1
Listing Agency:
Point Honors And Associates, Realtors
(678) 869-5130
Listed By:
Intown Elite
(404) 478-7800
Source:
Intownelite
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 3 at 2:22AM
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 Point Honors And Associates, Realtors
Investment Insights
Based on property information with market context.
Located at 790 Pat Mell Road SE in Smyrna, Georgia, this multifamily property contains three separate residences arranged across upper, street-level, and finished lower-level spaces. Built in 2004, the building provides 2,484 total square feet, including 1,656 square feet above grade and an 828-square-foot finished lower level. The property includes three total bathrooms on a 0.17-acre lot.
The location offers access to I-285 and I-75, with Truist Park, The Battery Atlanta, Marietta Square, and the Chattahoochee River National Recreation Area nearby. The three units are leased and occupied, providing an existing rental setup for a buyer seeking a small-scale multifamily asset in Smyrna.
The location offers access to I-285 and I-75, with Truist Park, The Battery Atlanta, Marietta Square, and the Chattahoochee River National Recreation Area nearby. The three units are leased and occupied, providing an existing rental setup for a buyer seeking a small-scale multifamily asset in Smyrna.
Key Highlights
- Three leased and occupied units
- 2,484 total square feet: 1,656 above grade plus 828 finished lower level
- Built in 2004
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
$36,092
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
6.03%
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%
$721,840
$721.8K
Cap Rate 7%
$515,600
$515.6K
Cap Rate 9%
$401,022
$401.0K
Market Conditions
NOI Build-Up for 2,484 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
$55.1K $22.20/SF
− Vacancy
−$3.6K −$1.44/SF
EGI
$51.6K $20.76/SF
− OpEx
−$15.5K −$6.23/SF
NOI
$36.1K $14.53/SF
Area
Cobb County, GA
Vacancy
6.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$721,840
Cap Rate 7%
$515,600
Cap Rate 9%
$401,022
Alternative Uses
Best Use
Multifamily LT 5
$515.6K
$451.2K – $601.5K
NOI $36,092 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$476.7K
$417.1K – $556.2K
NOI $33,370 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$697.5K
$610.3K – $813.8K
NOI $48,826 @ 7.0% cap · market cap 8.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
596
Businesses Nearby
Explore this area
Business Placement
Demographics for 30080, GA
52,125
Population
27,081
Households
1.9
Avg Household Size
35
Median Age
58%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
4,137
Density / Sq Mi
$87,949
Median Household Income
$59,267
Median Earnings
$1,660
Median Rent
$409,700
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?
Triplex - All three residences are currently leased and occupied.
Where is this triplex located?
The property is located at 790 Pat Mell Road SE Smyrna, GA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three leased and occupied units; 2,484 total square feet: 1,656 above grade plus 828 finished lower level; Built in 2004
