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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    228 Ottley NE Dr Atlanta, GA 30324-3927

    • Warehouses
    • 10,217 SF
    • 1.21 lot acres
    OFF-MARKET
    Value Estimations
    $1,040,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1853453
    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

    • Real Life Inc / Rehabilitation Center
    • Simelemon food / Bar
    • Alchemy Showbar and Restaurant / Corporate Office / Garage Door Supplier
    • Treesmith Tree Doctor / Tree Service

    Property Details for 228 Ottley NE Dr

    Year built
    1957
    Construction
    WOOD
    Lot size
    1.21 lot acres
    Property size
    10,217 SF
    Zone code
    I1
    Property type
    Warehouses
    APN
    17 0103 LL0415
    APU
    170103LL0415

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,195,000
      6.5%
      $1,100,000
      7%
      $1,025,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,480,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Atlanta
    County
    Fulton
    State
    Georgia
    Longitude
    -84.3776
    Latitude
    33.8122
    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
    $0.00
    $401,000
    $561,960
    $962,960
    -
    $1,002,500
    $1,404,900
    $2,407,400

    Comparable in this City

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      1413 Mayson NE St

      WAREHOUSE, STORAGE • 6,400 SF
      1413 Mayson NE St, Atlanta, GA 30324-3907
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    • Value Estimation
      $4,270,000
      72,277 SF

      1085 Lindbergh NE Dr

      MINI-WAREHOUSE, STORAGE • 72,277 SF
      1085 Lindbergh NE Dr, Atlanta, GA 30324-3727
      View Details
    • Value Estimation
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      17,340 SF

      2120 Plaster Brg NE Rd

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      200 Armour NE Dr

      WAREHOUSE, STORAGE • 2,226 SF
      200 Armour NE Dr, Atlanta, GA 30324
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    • Value Estimation
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      15,154 SF

      441 Armour NE Pl

      WAREHOUSE, STORAGE • 15,154 SF
      441 Armour NE Pl, Atlanta, GA 30324-3901
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,000 SF

      Flex/Loft Office/Warehouse Near Beltline

      Flex/loft office/warehouse near Beltline, where Midtown meets Buckhead.
      1420 Mayson St NE, Atlanta, GA 30324
      View Details
    • $7,250,000
      1.00 Acre

      Prime Atlanta Mixed-Use Redevelopment

      1-acre lot, 23,000 SF, vacant, high traffic.
      1747 Cheshire Bridge Rd, Atlanta, GA 30324
      View Details
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      0.23 Acres

      Buckhead Mixed-Use Office Suite

      Prime Buckhead location, 1500 sq ft, all utilities included.
      805 Unit, Atlanta, GA 30324
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    • $200,000

      Updated Condo Near Midtown, Buckhead

      Charming 2 bed, 1 bath condo with modern updates.
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    • $198,000
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      Top-Floor Condo in Quiet Community

      Light-filled 2-bedroom condo with private deck and convenient location.
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      Charming Buckhead condo with updated kitchen, spacious living area.
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    Similar Nearby for Lease

    • $16 SF/Yr
      70,000 SF

      Atlanta Industrial Flex Space

      Versatile Atlanta warehouse space for lease.
      2201-2241 Faulkner Rd, Atlanta, GA 30324
      View Details
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      49,630 SF

      Industrial Flex Space Available

      Industrial flex space featuring office and warehouse components.
      2091 Faulkner Rd NE, Atlanta, GA 30324
      View Details
    • Contact for pricing
      50,000 SF

      Adaptable Warehouse Space for Rent

      Air-conditioned warehouse with easy access to major transportation routes.
      2099 Faulkner Rd Northeast, Atlanta, GA 30324
      View Details
    • Contact for pricing

      Warehouse Buildings with Outside Storage

      Warehouse buildings with fenced parking and outside storage available.
      2060 Liddell Dr NE, Atlanta, GA 30324
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    • $27 SF/Yr
      34,059 SF

      Midtown Atlanta Flex Space

      Prime Midtown Atlanta flex space, 2,000 sq ft available.
      800 Lambert Dr, Atlanta, GA 30324
      View Details
    • $2,750 /Mo
      1,730 SF

      Corner Unit Condo in Buckhead

      Private, comfortable condo with city convenience near Lenox Mall.
      3071 Lenox Rd NE, Atlanta, GA 30324
      View Details
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    228 Ottley NE Dr
    Atlanta, GA 30324-3927
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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.

    More about this property
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