Atlanta Westside Package Store
For Sale
Contact for pricing
1151 Chattahoochee Ave NW, Atlanta, GA 30318
20,000 SF building on 1.3 AC for sale.
Property Size19,996 SF
Lot Size1.30 Acres
Price / SF$475.10
Days on Market871
Property Features for 1151 Chattahoochee Ave NW
General Information
Standard status
Active
Size
19,996 SF
Lot size
1.30 Acres
Property subtype
Retail
Zoning
I2 Atlanta
Investment Type
Owner/User
Building Details
Year Built
1954
Year Renovated
2023
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Widespread Commercial Group
(404) 635-6626
Listed By:
Alicia Parker · License #422934
Source:
Crexi
Added: Apr 12, 2024
Changed: Aug 15
Last Checked: Aug 29 at 3:07PM
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 = 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
$336,533
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
3.54%
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%
$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
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
$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 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%
$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
NOI $336,533 @ 7.0% cap · market cap 3.54%
Second Best
Retail
$4.02M
$3.52M – $4.69M
NOI $281,251 @ 7.0% cap · market cap 2.96%
Theoretical Best
Office A
$5.59M
$4.89M – $6.52M
NOI $391,275 @ 7.0% cap · market cap 4.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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.**
