R5 Zoned Land with Existing
For Sale
$475,900
892 Ridge Avenue NW, Atlanta, GA 30318
LAND - Bungalow - Atlanta, GA
Property Size1,256 SF
Lot Size1.00 Acres
Price / SF$378.90
Days on Market89
Property Features for 892 Ridge Avenue NW
General Information
Property type
Land
Property subtype
Single Family Residence
Zoning
R5
Zoning description
Developed/Zoned Residential
Rooms
Basement
Vegetation
Partially Wooded
Patio and Porch features
Porch
Elementary school
William J. Scott
Middle school
John Lewis Invictus Academy/Harper-Archer
High school
Frederick Douglass
Directions
From east on Veterans Memorial Highway, turn left on Woods Drive NW, Turn right onto Bellview Avenue NW, then turn left onto Ridge AVenue NW
Standard status
Active
APN
14 020800021098
Lot size
1.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4490
Utilities
Utilities
Cable Available
Building Details
Year built
1920
Floors in Building
1
Architectural style
Bungalow
Listing Agency:
Century 21 Connect Realty · Century 21 Real Estate
(770) 640-6800
Listed By:
KATHERINE MOLINER · License #241905
(770) 640-6800
Added: May 29
Changed: Aug 3
Last Checked: Aug 25 at 3:06AM
MLS# 7777189
Copyright © 2026 First Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property consists of a residentially zoned lot in Fulton County, zoned R5, with utilities readily available. A 1,256 square-foot home is currently on site and may be repurposed or demolished to support redevelopment. The lot size is approximately 1.0017 acres, providing room to plan for a variety of residential configurations consistent with R5 zoning, including townhome and row house concepts.
The site offers practical access to major interstates, with quick access to I-285 and I-20. It is also described as being within close proximity to downtown Atlanta and several major destinations, including Mercedes-Benz Stadium, State Farm Arena, The Georgia Aquarium, and Atlanta Hartsfield-Jackson International Airport, along with nearby parks and educational institutions.
For investors, builders, and buyers looking for a larger residential canvas, this offering provides both an existing structure that can be reused and the option to clear the site for new construction. With utilities already available and an R5 zoning designation that supports larger multi-family residential development such as townhomes and row houses, the property is positioned for a range of residential redevelopment approaches.
The site offers practical access to major interstates, with quick access to I-285 and I-20. It is also described as being within close proximity to downtown Atlanta and several major destinations, including Mercedes-Benz Stadium, State Farm Arena, The Georgia Aquarium, and Atlanta Hartsfield-Jackson International Airport, along with nearby parks and educational institutions.
For investors, builders, and buyers looking for a larger residential canvas, this offering provides both an existing structure that can be reused and the option to clear the site for new construction. With utilities already available and an R5 zoning designation that supports larger multi-family residential development such as townhomes and row houses, the property is positioned for a range of residential redevelopment approaches.
Key Highlights
- Prime land zoned R5, accommodating multi‑family buildings like townhomes and row houses.
- Excellent development opportunity in a growing neighborhood with new construction.
- Convenient access to Interstates 285 and 20, downtown Atlanta, and Hartsfield‑Jackson International Airport.
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
$15,085
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
3.17%
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%
$301,700
$301.7K
Cap Rate 7%
$215,500
$215.5K
Cap Rate 9%
$167,611
$167.6K
Market Conditions
NOI Build-Up for 1,256 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
$29.2K $23.28/SF
− Vacancy
−$1.8K −$1.44/SF
EGI
$27.4K $21.84/SF
− OpEx
−$12.3K −$9.83/SF
NOI
$15.1K $12.01/SF
Area
ZIP 30318
Vacancy
6.20%
Lease Rate
$23.28 /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%
$301,700
Cap Rate 7%
$215,500
Cap Rate 9%
$167,611
Alternative Uses
Best Use
Apartment 5plus
$215.5K
$188.6K – $251.4K
NOI $15,085 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$351.1K
$307.2K – $409.6K
NOI $24,577 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
Explore this area
Business Placement
Demographics for 30318, GA
60,392
Population
29,993
Households
2
Avg Household Size
31
Median Age
54%
College-Educated
92%
High-School Grad
20.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$79,222
Median Household Income
$53,455
Median Earnings
$1,702
Median Rent
$395,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Zoned R5 with utilities available and an existing home, offering flexibility for residential redevelopment in the Atlanta market.
Where is this residential land & home lot located?
The property is located at 892 Ridge Avenue NW Atlanta, GA.
What is the asking price?
The asking price for this property is $475,900.
What are key features of this property?
This property features: Prime land zoned R5, accommodating multi‑family buildings like townhomes and row houses.; Excellent development opportunity in a growing neighborhood with new construction.; Convenient access to Interstates 285 and 20, downtown Atlanta, and Hartsfield‑Jackson International Airport.
