234 Marietta Hwy Canton, GA 30114
Property profile & analytics
234 Marietta Hwy Canton, GA 30114
- Commercial real estate
- 4.89 lot acres
Property ID
US22-1800840
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.
Location Intelligence
Current Use by Public Records
- Commercial real estate
Property Details for 234 Marietta Hwy
- Year built
- 1980
- Lot size
- 4.89 lot acres
- Property type
- Commercial real estate
Description
This exceptional 52-unit apartment building, known as Northwood, presents a compelling value-add investment opportunity in the thriving Canton, Georgia market. Built in 1980 and renovated in 2022, the property boasts 41,400 square feet of net rentable space spread across four, two-story buildings situated on a 4.89-acre lot. Currently operating at 100% occupancy (as of May 30, 2024), the property generates a strong NOI of $489,400, with a pro-forma NOI projected at $573,816, reflecting a potential cap rate increase from 6.53% to 7.65%. The property is zoned RM-15 and enjoys a prime location less than five minutes from Historic Downtown Canton and I-575, offering convenient access to major transportation routes. With 70% of units being classic units, there's a proven opportunity to increase rental income by $117 per unit. The current average in-place rent is significantly below market rates, with recent leases showing a 14% increase over the average. This presents a substantial opportunity to push rents closer to market levels, potentially adding $325 per unit. The property's strong location in Cherokee County, a high-growth area with a surging population (nearly 96% increase), and the absence of an eviction backlog, further enhances its investment appeal. The asking price is $7,500,000, translating to $144,230.77 per unit. This represents a compelling investment in a rapidly appreciating market, offering significant potential for future returns.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Canton
- County
- Cherokee
- State
- Georgia
- Longitude
- -84.4955515
- Latitude
- 34.244913
