Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2697 Kelly Lake Rd Decatur, GA 30032
    Back to Search
    Property profile & analytics

    2697 Kelly Lake Rd Decatur, GA 30032

    View on Map
    • Commercial real estate
    • 3.80 lot acres
    Off-Market
    Property ID
    US22-4180779
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2697 Kelly Lake Rd

    Lot size
    3.80 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 3.8-acre parcel presents a prime opportunity for townhome development in desirable Decatur, Georgia. Located in unincorporated DeKalb County at 2697 Kelly Lake Rd, 30032, this property boasts a strategic location less than a mile from a thriving, rapidly selling townhome community. The site is currently zoned R75, but a site plan indicates the potential for up to 28 townhomes under the RSM zoning designation. This rezoning offers the added benefit of Opportunity Zone incentives, enhancing the investment potential. Convenient access to major thoroughfares, including I-20 and I-285, ensures easy commutes for future residents. The property's location within a Qualified Opportunity Zone provides significant tax advantages for investors. This is a rare chance to capitalize on the high demand for townhomes in this area, with the potential for substantial returns. The property's latitude and longitude coordinates are 33.7157713 and -84.2798281 respectively. Detailed site plans and zoning information are available upon request. Don't miss this exceptional opportunity to develop a thriving townhome community in a highly sought-after location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    DeKalb
    State
    Georgia
    Longitude
    -84.2798281
    Latitude
    33.7157713

    Comparable in this City

    • $599,900
      Pending

      Two Detached Homes on One Parcel

      Two updated homes on one parcel near Candler Crossing Development.
      2659 Glenvalley Dr, Decatur, GA 30032
      View Details
    • Contact for pricing
      109,909 SF

      Value-Add Multifamily Asset in Decatur

      Decatur multifamily property with value-add potential and recent capital improvements.
      4015 Covington Hwy, Decatur, GA 30032
      View Details
    • New
      $495,000
      0.38 Acres

      Renovated Duplex in Prime Location

      Turnkey duplex near Decatur Square, ideal for investors.
      1485 Janmar Dr, Decatur, GA 30032
      View Details
    • $3,600,000
      4.20 Acres

      Decatur Land Zoned for Homes

      4.2-acre residential site zoned for 20 single-family homes.
      2080 Tilson Rd, Decatur, GA 30032
      View Details
    • $499,000
      2.20 Acres

      Development Land Near East Lake

      2.2 acres near East Lake Country Club in Decatur.
      2882 Amelia Ave, Decatur, GA 30032
      View Details
    • $65,500
      0.26 Acres

      Decatur Land Opportunity

      Spacious lot in high-demand Decatur location.
      3498 Crown Point Pl, Decatur, GA 30032
      View Details

    Similar Nearby for Sale

    • $599,900
      Pending

      Two Detached Homes on One Parcel

      Two updated homes on one parcel near Candler Crossing Development.
      2659 Glenvalley Dr, Decatur, GA 30032
      View Details
    • Contact for pricing
      109,909 SF

      Value-Add Multifamily Asset in Decatur

      Decatur multifamily property with value-add potential and recent capital improvements.
      4015 Covington Hwy, Decatur, GA 30032
      View Details
    • New
      $495,000
      0.38 Acres

      Renovated Duplex in Prime Location

      Turnkey duplex near Decatur Square, ideal for investors.
      1485 Janmar Dr, Decatur, GA 30032
      View Details
    • $250,000
      1.54 Acres

      Decatur Land Opportunity

      Large cleared lot in a desirable Decatur location.
      1418 Peachcrest Rd, Decatur, GA 30032
      View Details
    • $3,600,000
      4.20 Acres

      Decatur Land Zoned for Homes

      4.2-acre residential site zoned for 20 single-family homes.
      2080 Tilson Rd, Decatur, GA 30032
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,400 SF

      Retail Space in Chelsea's Plaza

      2,400 SF retail/office space available in Decatur, GA.
      3423-3709 Covington Dr, Decatur, GA 30032
      View Details
    • Contact for pricing
      7,500 SF

      Decatur Freestanding Office Building For Rent

      7,500 SF freestanding office building with ample parking.
      3486 Covington Hwy, Decatur, GA 30032
      View Details
    • $7,500 /Mo
      55,321 SF

      Renovated Freestanding Commercial Building

      Move-in ready commercial building in Belvedere Park, Decatur.
      1272 Columbia Dr, Decatur, GA 30032
      View Details
    • Contact for pricing

      Retail Space I-285 and Memorial

      Retail space available at I-285 and Memorial Drive.
      4570 Memorial Dr, Decatur, GA 30032
      View Details
    • Contact for pricing

      Decatur Retail/Office Building For Rent

      21,417 SF retail/office building in Decatur, Georgia.
      3879 Covington Hwy, Decatur, GA 30032
      View Details
    • Contact for pricing

      Decatur Retail Space For Lease

      10,594 SF freestanding building near I-20 and national retailers.
      2458 Candler Rd, Decatur, GA 30032
      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.
    2697 Kelly Lake Rd
    Decatur, GA 30032
    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

    Thank You for Inquiry
    2697 Kelly Lake Rd, Decatur, GA, 30032
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!