Midtown Condo with Garden
For Sale
$617,500
850 Piedmont Avenue NE #3315, Atlanta, GA 30308
Two-story condo in gated community with updated interiors and parking.
Property Size1,704 SF
Days on Market364
Property Features for 850 Piedmont Avenue NE #3315
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Condominium
Amenities
Central Air
Central
Dishwasher
Disposal
Dryer
Gas Cooktop
Gas Oven
Gas Range
Microwave
Refrigerator
Washer
Pool, Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Water Available, Composition
Building Details
Building Size
1,704 SF
Year Built
2000
Listing Agency:
Atlanta Fine Homes Sotheby's International
(404) 662-1982
Listed By:
First MLS
(404) 662-1982
Source:
Kw
Added: Aug 26, 2025
Changed: Aug 19
Last Checked: Aug 23 at 12:58PM
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 Fine Homes Sotheby's International
Investment Insights
Based on property information with market context.
Located in Midtown, this two-story condo is part of The Dakota, a gated midrise community. The property features two bedrooms and has been updated with wide-plank hardwood floors and a renovated kitchen. The kitchen includes quartz countertops, a marble backsplash, and stainless steel appliances. The living and dining areas offer an open layout. Natural light enters through dual-pane windows and French doors, providing views of the landscaped gardens. Upstairs, the bedrooms offer views of the Garden District. A small bonus vestibule can serve as an office or reading nook. The unit has direct access to two assigned parking spaces and is located near the elevator and stairwells. The Dakota provides amenities such as a rooftop pool and sun deck with grilling stations, a fitness center, a community kitchen, gated courtyards with patios and walking paths, bicycle storage, and guest parking. The property is located near Piedmont Park, the BeltLine, and Trader Joe's.
Key Highlights
- Only 2‑bedroom unit available in the desirable Dakota midrise community.
- Lives like a townhome with no neighbors above and direct access to two gated, assigned parking spaces.
- Updated interior featuring a renovated kitchen with quartz countertops, marble backsplash, and stainless steel appliances.
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
$18,796
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
3.04%
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%
$375,920
$375.9K
Cap Rate 7%
$268,514
$268.5K
Cap Rate 9%
$208,844
$208.8K
Market Conditions
NOI Build-Up for 1,704 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
$35.8K $21.00/SF
− Vacancy
−$1.6K −$0.95/SF
EGI
$34.2K $20.06/SF
− OpEx
−$15.4K −$9.02/SF
NOI
$18.8K $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%
$375,920
Cap Rate 7%
$268,514
Cap Rate 9%
$208,844
Alternative Uses
Best Use
Apartment 5plus
$268.5K
$235.0K – $313.3K
NOI $18,796 @ 7.0% cap · market cap 3.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$476.3K
$416.8K – $555.7K
NOI $33,343 @ 7.0% cap · market cap 5.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,862
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 Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story condo in gated community with updated interiors and parking.
Where is this apartment building located?
The property is located at 850 Piedmont Avenue NE #3315 Atlanta, GA.
What is the asking price?
The asking price for this property is $617,500.
What are key features of this property?
This property features: Only 2‑bedroom unit available in the desirable Dakota midrise community.; Lives like a townhome with no neighbors above and direct access to two gated, assigned parking spaces.; Updated interior featuring a renovated kitchen with quartz countertops, marble backsplash, and stainless steel appliances.
