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

    246 Chestnut Hl SW Rd Marietta, GA 30064-3654

    • Garden apartment buildings
    • 37,642 SF
    • 2.58 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2022
    $8,100,000
    Value Estimations
    $8,165,000
    Show details
    Cap Rate Potential
    4.9%
    Garden apartment buildings
    Location Intelligence
    Property ID
    US22-1436412
    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

    • Midwood Chestnut Apartments / Apartment Complex

    Property Details for 246 Chestnut Hl SW Rd

    Year built
    1968
    Lot size
    2.58 lot acres
    Property size
    37,642 SF
    Zone code
    RM-12
    Property type
    Garden apartment buildings
    APN
    17014701520
    APU
    17014701520

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,385,000
      ML approach
      $10,390,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,430,000
      6.5%
      $7,780,000
      7%
      $7,225,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $5,765,000
      Current use
      MEDICAL BUILDING
      $9,090,000
      Change: +58% Conversion: Moderate
      NEIGHBORHOOD: SHOPPING CENTER
      $8,285,000
      Change: +44% Conversion: Difficult
      RETAIL STORES
      $8,280,000
      Change: +44% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,970,000
      Change: +21% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $6,540,000
      Change: +13% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Marietta
    County
    Cobb
    State
    Georgia
    Longitude
    -84.5603
    Latitude
    33.9353
    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
    2024
    $10,927
    $485,504
    $806,096
    $1,291,600
    -
    $1,213,760
    $2,015,240
    $3,229,000

    Comparable in this City

    • Value Estimation
      $24,150,000
      213,318 SF

      1250 Powder Spgs St

      GARDEN APT, COURT APT (5+ UNITS) • 213,318 SF
      1250 Powder Spgs St, Marietta, GA 30064-5236
      View Details
    • Value Estimation
      $22,945,000
      180,508 SF

      1001 Burnt Hickory NW Rd

      GARDEN APT, COURT APT (5+ UNITS) • 180,508 SF
      1001 Burnt Hickory NW Rd, Marietta, GA 30064-1368
      View Details
    • Value Estimation
      $22,950,000
      126,108 SF

      925 Whitlock SW Ave

      GARDEN APT, COURT APT (5+ UNITS) • 126,108 SF
      925 Whitlock SW Ave, Marietta, GA 30064-5447
      View Details
    • Value Estimation
      $5,895,000
      47,800 SF

      925 Whitlock SW Ave

      GARDEN APT, COURT APT (5+ UNITS) • 47,800 SF
      925 Whitlock SW Ave, Marietta, GA 30064-5447
      View Details
    • Value Estimation
      $29,660,000
      236,808 SF

      1250 Powder Spgs St

      GARDEN APT, COURT APT (5+ UNITS) • 236,808 SF
      1250 Powder Spgs St, Marietta, GA 30064-5236
      View Details
    • Value Estimation
      $33,585,000
      176,350 SF

      825 Powder Spgs St

      GARDEN APT, COURT APT (5+ UNITS) • 176,350 SF
      825 Powder Spgs St, Marietta, GA 30064-3665
      View Details

    Similar Nearby for Sale

    • $250,000
      1,452 SF

      Updated Condo Near Marietta Square

      Updated 2-bedroom, 2-bath condo with modern amenities and convenient location.
      908 Cannongate Xing SW, Marietta, GA 30064
      View Details
    • $1,100,000
      4.60 Acres

      Marietta Land: 4.6 Acres, R20

      Prime Marietta commercial/residential land. Excellent location, high potential.
      1860 Powder Springs Rd, Marietta, GA 30064
      View Details
    • $249,900
      1,580 SF

      Updated Ranch Home with Courtyard

      Updated 2-bedroom home with renovated kitchen, baths, and courtyard.
      845 Lake Hollow Blvd SW, Marietta, GA 30064
      View Details
    • $275,000

      Charming Garden-Style Condo Near Schools

      Updated 2-bedroom condo near schools and shopping in Marietta, GA.
      386 Manning Villas Dr SW, Marietta, GA 30064
      View Details
    • $249,900

      Updated Ranch with Modern Amenities

      Move-in ready, updated 2-bedroom home with renovated kitchen and baths.
      845 Lake Hollow Blvd SW, Marietta, GA 30064
      View Details
    • New
      $775,000
      0.70 Acres

      Marietta Executive Retreat in Harrison Oaks

      Brick and stone home in West Cobb's desirable Harrison Oaks.
      355 Glynnwilde Dr NW, Marietta, GA 30064
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      28,102 SF

      Clocktower Village Retail Space

      Marietta Square retail center; 3 suites available.
      999 Whitlock Ave, Marietta, GA 30064
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space Near Kennesaw Park

      Retail space anchored by Goodwill and Dollar Tree.
      763 Whitlock Ave SW, Marietta, GA 30064
      View Details
    • Contact for pricing
      2,009 SF

      Turnkey Restaurant Space with Patio

      2,009 SF restaurant with bar and dedicated patio.
      68 N Marietta Pkwy NW, Marietta, GA 30064
      View Details
    • New
      $2,840 /Mo
      71,264 SF

      Marietta Office Space For Lease

      Prime medical/professional office space with exceptional visibility near Marietta Square.
      1075 Whitlock Ave SW, Marietta, GA 30064
      View Details
    • Contact for pricing
      81,639 SF

      Marietta Retail Space: Prime Location

      6,000 SF Vacant Retail Space in Marietta, GA
      3805 Dallas Hwy, Marietta, GA 30064
      View Details
    • $5,000 /Mo
      2,632 SF

      Marietta Office Condo For Lease

      Two-story office condo available for lease in Marietta, Georgia.
      701 SW Unit, Marietta, GA 30064
      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.
    246 Chestnut Hl SW Rd
    Marietta, GA 30064-3654
    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.