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    Marietta Retail/Restaurant Opportunity with Drive-Thru Title is generated by Realmo AI

    565 Cobb Pkwy SE, Marietta, GA 30060

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    0.610 acre lot ready for retail or restaurant development.

    Type:Land
    Property size:
    2,400 SF
    Lot size:
    0.61 Acres
    Price / SF:
    $500/SF
    Added:
    Nov 12, 2024
    Days on Market:
    571
    Last Refresh:
    May 12 at 9:06 pm

    Property Features for 565 Cobb Pkwy SE

    General Information

    Standard status
    Active
    Size
    2,400 SF
    Lot size
    0.61 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Robert M. Zeff

    Listing agent Robert M. Zeff License #GA278996

    Listing office Insignia Realty LLC

    Listing date Nov 12, 2024

    Source Crexi

    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 Insignia Realty LLC

    HighLights

    • Opportunity Zone location offers potential tax benefits.
    • High pre‑leasing rate (80%) indicates strong demand for the 55+ apartment units.
    • Existing 91‑unit apartment community (Banberry) with a mix of one and two‑bedroom floor plans.
    • Tract B (0.610 Acres) is ready for a 2,400 sf retail or restaurant build‑to‑suit with a drive‑thru.
    • Strategic location near I‑75 and 285 provides excellent accessibility.
    • Proximity to KSU Technology campus, Dobbins Air Force Base, The Battery/Truist Park, and other attractions.

    Overview

    Located at 565-575 S. Cobb Pkwy in Marietta, Georgia, this property consists of a 0.610-acre tract zoned CRC Community Retail Commercial. It is situated in the Southeast Cobb County/Marietta submarket, within an Opportunity Zone. The site is ready for the construction of a 2,400 square foot retail or restaurant building with a drive-thru. The location is near I-75 and 285, across the street from the KSU Technology campus. Other nearby attractions include the Big Chicken, Franklin Gateway (home to the Atlanta United practice field), Dobbins Air Force Base, The Battery Ball Park mixed-use development (home to the Atlanta Braves), Walmart, and Costco. The surrounding area of Southeast Marietta is a suburban college town with a military presence, offering convenient access to Downtown Marietta's breweries, restaurants, bars, theaters, parks, and museums. Interstate 75 provides direct access to Downtown Atlanta, approximately 15 miles southeast, passing through areas like Cumberland, Vinings, Buckhead, and Atlantic Station. The Fox Creek Golf Course & Driving Range is nearby, along with supermarkets, retailers, and services. The property is part of a larger development that includes a 91-unit apartment building.
    Property Profile Location Intelligence

    Current Use by Public Records

    Banberry Apartments Apartment Complex

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Marietta
    County
    Cobb
    State
    Georgia
    Longitude
    -84.5131374
    Latitude
    33.9386641

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    FAQs

    What type of property is this?
    Commercial land - 0.610 acre lot ready for retail or restaurant development.
    Where is this commercial land located?
    The property is located at 565 Cobb Pkwy SE Marietta, GA.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Opportunity Zone location offers potential tax benefits.; High pre‑leasing rate (80%) indicates strong demand for the 55+ apartment units.; Existing 91‑unit apartment community (Banberry) with a mix of one and two‑bedroom floor plans.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robert M. Zeff
    Real Estate License ID: GA278996
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    565 Cobb Pkwy SE, Marietta, GA 30060
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