Building Details

Year Built 1954

Year Renovated 2023

Buildings 1

Stories 1

Units 1

Tenancy Single

Listing Agency: Widespread Commercial Group

Listed By: Alicia Parker · License #422934 Show Phone

Source: Crexi

Added: Apr 12, 2024 Changed: Oct 2 Last Checked: Oct 12 at 6:23PM

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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 Widespread Commercial Group

Investment Insights

Based on property information with market context.

This property features a 20,000 square foot building situated on 1.3 acres. It currently operates as a package store with state-of-the-art technology and security. The business and real estate are available for purchase. The property includes a large parking lot and outdoor space suitable for a patio. Approximately 13,000 square feet of the building is used for the package store and warehouse receiving and storage. The remaining 7,000 square feet presents an opportunity to generate additional income, potentially as a bar, lounge, tasting room, gaming area, billiards hall, or patio. The surrounding area is a dense and desirable location with restaurants and recreational destinations such as Top Golf, Fetch Dog Park, Bad Axe Axe Throwing, Putt Shack, and the Atlanta Pickleball Center.

Key Highlights

• Largest package store available in Atlanta’s Westside, with potential to be the largest and highest volume in Georgia.
• Business and real estate for sale.
• 20,000 SF building on 1.3 AC with large parking lot and patio potential.**

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$336,533

Cap Rate

3.54%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,730,660 $6.7M

Cap Rate 7%

$4,807,614 $4.8M

Cap Rate 9%

$3,739,256 $3.7M

Market Conditions

NOI Build-Up for 19,996 SF

Gross rent

$479.9K $24.00/SF

− Vacancy

−$31.2K −$1.56/SF

EGI

$448.7K $22.44/SF

− OpEx

−$112.2K −$5.61/SF

NOI

$336.5K $16.83/SF

Area

ZIP 30318

Vacancy

6.50%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$6,730,660

Cap Rate 7%

$4,807,614

Cap Rate 9%

$3,739,256

Alternative Uses

Best Use

Specialty Retail

$4.81M

$4.21M – $5.61M (±1% cap)

NOI $336,533 @ 7.0% cap · market cap 3.54%

Second Best

Retail

$4.02M

$3.52M – $4.69M (±1% cap)

NOI $281,251 @ 7.0% cap · market cap 2.96%

Theoretical Best

Office A

$5.59M

$4.89M – $6.52M (±1% cap)

NOI $391,275 @ 7.0% cap · market cap 4.12%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Affordable Spirits (Bike/Boat/Book/etc) Store atlanta art of boxing ... Gym & Fitness Center MSM Builders Construction Company DG Home Improvement General Contractor

Suggested Use

Top Pick Dental Office Garden Center Parking Lot & Garage Butcher Daycare Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,071

Businesses Nearby

Under-served

Demand for This Use

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

Market

Vacancy Rate% for Industrial in Atlanta, GA

7.2% 2019

5.8% 2020

3.1% 2021

3.3% 2022

6.4% 2023

8.5% 2024

9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - 20,000 SF building on 1.3 AC for sale.

Where is this grocery and convenience store located?

The property is located at 1151 Chattahoochee Ave NW Atlanta, GA.

What is the asking price?

The asking price for this property is $9,500,000.

What are key features of this property?

This property features: Largest package store available in Atlanta’s Westside, with potential to be the largest and highest volume in Georgia.; Business and real estate for sale.; 20,000 SF building on 1.3 AC with large parking lot and patio potential.**