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Property profile & analytics
OFF-MARKET
Estimated value
$33,145,000
Garden apartment buildings
1295 Rock Spgs NE Rd Atlanta, GA 30306-2318
Entity Owned
3-yr Hold
Absentee Owner
Property ID
US22-1389338
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2009
Total area
69,207 SF
Lot
5.6 ac (243,936 SF)
Zoning code
RM75
APN
18 055 01 006
UPID
US22-1389338
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$33.15M
Owner & transaction history
Bell Fund Vii Morningside LLC · 3 yrs held
Bell Fund Vii Morningside LLC
since 2022
Last sale
$39.6M
4 recorded transactions
Zoning & alternative use
RM75 · Atlanta, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$37.6M
+11.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Atlanta submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Atlanta submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$33,725,000
Current use
RESTAURANT
$37,635,000
Change: +12% · Conversion: Difficult
Blend value · Realmo final
$33.15M
Range $29.83M – $36.46M · ±10% · vs last sale $39.60M (Oct 14 2022)
Last sale anchor
$39.60M
Oct 14 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$479 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$698,012
Tax year 2024
Assessed value
$15,840,000
Assessed 2024
Previous assessed
$15,840,000
+0.0% YoY
Effective rate
4.41%
On assessed value
Assessed land
$5,068,800
Assessed improvement
$10,771,200
Land market value
$12,672,000
Improvement market value
$26,928,000
Total market value
$39,600,000
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2009
Heating
NONE
Cooling
YES
Buildings
4
Stories
2
Units
110
Total area
69,207 SF
Lot
5.6 ac (243,936 SF)
Zoning code
RM75
APN
18 055 01 006
UPID
US22-1389338
Jurisdiction
DE KALB
Zoning & alternative use
RM75 · Atlanta, GA
Zoning RM75 · permitted uses
RM75 · Atlanta, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Atlanta. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$33.7M
RESTAURANT
Est. value
$37.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2009
Heating
NONE
Cooling
Yes
Stories
2
Buildings
4
Units
110
Lot
5.6 ac
Current owner
From public records · entity-resolved
Bell Fund Vii Morningside LLC
Entity
Mailing address
300 N GREENE ST STE #1000, GREENSBORO, NC 27401-2173
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2022
$39,600,000
Bell Fund Vii Morningside LLC
Realty Associates Func Xi Portfolio
Warranty Deed
$23,136,000 · Walker And Dunlop
Jun 19, 2008
$7,435,000
East Rock Springs Partners LLC
Emory,arms LLP
Grant Deed
—
Jun 19, 2008
—
East Rock Springs Partners LLC
Emory,arms LLP
Grant Deed
related
—
—
—
East Rock Springs Partners LLC
—
Loan Modification
related
$20,544,612 · Compass Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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