Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1923 Howell Ml NW Rd Atlanta, GA 30318-2513

    • Retail space
    • 9,224 SF
    • 0.43 lot acres
    OFF-MARKET
    Last Sale
    May 25, 2025
    $3,310,000
    Value Estimations
    $2,835,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1402178
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Teriyaki Madness / Japanese Restaurant / Asian Fusion Restaurant
    • Massage Etoile / Massage Spa / Facial Spa

    Property Details for 1923 Howell Ml NW Rd

    Year built
    1959
    Construction
    WOOD
    Lot size
    0.43 lot acres
    Property size
    9,224 SF
    Zone code
    C1
    Property type
    Retail space
    APN
    17 015300080449
    APU
    17015300080449

    Description

    This exceptional investment opportunity presents the Howell Mill Shops, a 5,969 square foot retail property located at 1923 Howell Mill Rd NW, Atlanta, GA 30318. The property boasts a prime location in a dense retail corridor within the Howell Mill Village and The District at Howell Mill, directly off Interstate 75, ensuring excellent visibility and accessibility. Currently 100% occupied with two tenants under brand new 10-year NNN leases featuring built-in rent increases, this property offers a secure and lucrative investment. The building, which underwent a complete renovation in 2022, including a new roof with a long-term warranty, features 30 parking spaces on a 0.43-acre lot. The permitted zoning is C1 - Retail - Multiple Occupancy. The property's strong financial performance is highlighted by a 7.00% cap rate and a net operating income (NOI) of $242,062. The asking price is $3,458,000, translating to a price per square foot of $579.33. Both tenants, Feet Retreat Spa Massage and Teriyaki Madness, are established businesses with personal guarantees on their leases. The property benefits from a strong demographic profile within a 5-mile radius, providing a substantial and readily available consumer base. This fee-simple ownership opportunity offers limited landlord responsibilities, making it an attractive investment for discerning buyers. The Fulton County property features APN 17-0153-0008-044-9 and was originally built in 1959.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,160,000
      6.5%
      $1,995,000
      7%
      $1,855,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,725,000
      Market price range: $823k - $3.66M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,065,000
      Current use
      OFFICE BUILDING
      $3,445,000
      Change: +67% Conversion: Easy
      WAREHOUSE, STORAGE
      $3,085,000
      Change: +49% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $2,895,000
      Change: +40% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $2,880,000
      Change: +39% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $2,510,000
      Change: +22% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Atlanta
    County
    Fulton
    State
    Georgia
    Longitude
    -84.4123
    Latitude
    33.8074
    CBSA code
    12060
    CBSA name
    ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $32,148
    $385,040
    $307,800
    $692,840
    -
    $962,600
    $769,500
    $1,732,100

    Comparable in this City

    • Value Estimation by Request
      2,139 SF

      851 Donald Lee Hollowell NW Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 2,139 SF
      851 Donald Lee Hollowell NW Pkwy, Atlanta, GA 30318-8435
      View Details
    • Value Estimation by Request
      468 SF

      782 Cameron M Alexander NW Blvd

      RETAIL STORES (PERSONAL SERVICES) • 468 SF
      782 Cameron M Alexander NW Blvd, Atlanta, GA 30318-6880
      View Details
    • Value Estimation
      $3,100,000
      25,138 SF

      650 14th NW St

      RETAIL STORES (PERSONAL SERVICES) • 25,138 SF
      650 14th NW St, Atlanta, GA 30318-5446
      View Details
    • Value Estimation
      $1,700,000
      9,016 SF

      1199 Howell Ml NW Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,016 SF
      1199 Howell Ml NW Rd, Atlanta, GA 30318-5551
      View Details
    • Value Estimation
      $7,955,000
      42,780 SF

      1100 Howell Ml NW Rd

      RETAIL STORES (PERSONAL SERVICES) • 42,780 SF
      1100 Howell Ml NW Rd, Atlanta, GA 30318-8640
      View Details
    • Value Estimation
      $1,545,000
      12,800 SF

      1450 Howell Ml NW Rd

      RETAIL STORES (PERSONAL SERVICES) • 12,800 SF
      1450 Howell Ml NW Rd, Atlanta, GA 30318-4224
      View Details

    Similar Nearby for Sale

    • $12,500,000
      19,996 SF

      Atlanta Westside Retail Gem

      Prime Bar/Storefront, $12.5M
      1151 Chattahoochee Ave, Atlanta, GA 30318
      View Details
    • $375,000
      1,136 SF

      Riverside Retail Space For Sale

      Commercial condo in mixed-use building, ideal for retail or office.
      2030 Main St NW, Atlanta, GA 30318
      View Details
    • $999,900
      5,600 SF

      Atlanta Commercial Property with Redevelopment Potential

      Two-building commercial property with retail and automotive spaces on half-acre lot.
      2667 Donald Lee Hollowell Pkwy, Atlanta, GA 30318
      View Details
    • $999,900
      5,600 SF

      Atlanta Commercial Property with Redevelopment Potential

      Two-building commercial property with investment and redevelopment opportunities in Atlanta.
      2667 Donald Lee Hollowell Pkwy, Atlanta, GA 30318
      View Details
    • $1,265,000

      West Midtown Retail Condominiums

      Two suites in dynamic West Midtown with Beltline frontage.
      1331 Marietta Blvd NW, Atlanta, GA 30318
      View Details
    • $525,000
      1,500 SF

      West Midtown Office/Retail Opportunity

      1500 SF building in a high-traffic Atlanta location.
      4 Beck St NW, Atlanta, GA 30318
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      2,330 SF

      Defoor Place Executive Office Space

      Prime Upper Westside Office/Retail Opportunity
      1720 De Foor Pl, Atlanta, GA 30318
      View Details
    • Contact for pricing
      4,535 SF

      Mixed-Use Property in Midtown West

      Office and retail spaces available in a mixed-use development.
      1040 Northside Dr NW, Atlanta, GA 30318
      View Details
    • Contact for pricing
      4,233 SF

      Westside Provisions District Retail/Office Space

      Mixed-use destination in West Midtown with retail and office spaces.
      1170 Howell Mill Rd NW, Atlanta, GA 30318
      View Details
    • $4,500 /Mo
      27,530 SF

      Versatile Commercial Space in Atlanta

      Commercial space suitable for office, retail, or restaurant use.
      2346 Bolton Rd, Atlanta, GA 30318
      View Details
    • Contact for pricing
      1,612 SF

      Retail Space in Westside Village

      Located in Atlanta's Upper Westside, a growing submarket.
      2250 Marietta Blvd NW, Atlanta, GA 30318
      View Details
    • Contact for pricing
      1,314 SF

      Retail Space in Medical Building

      Street-level retail space in Class-A medical building for rent.
      1800 Howell Mill Rd NW, Atlanta, GA 30318
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1923 Howell Ml NW Rd
    Atlanta, GA 30318-2513
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.