Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2864 Franklin St Avondale Estates, GA 30002-1029
    Back to Search
    Property profile & analytics

    2864 Franklin St Avondale Estates, GA 30002-1029

    View on Map
    • Warehouses
    • 2,660 SF
    • 0.15 lot acres
    Off-Market
    Last Sale Aug 19, 2024
    $850,000
    Property ID
    US22-1560024
    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

    • Warehouses

    Property Details for 2864 Franklin St

    Year built
    1961
    Construction
    WOOD FRAME
    Lot size
    0.15 lot acres
    Property size
    2,660 SF
    Zone code
    X
    Property type
    Warehouses
    APN
    15 248 24 011
    APU
    1524824011

    Description

    This exceptional 2,660-square-foot office building, located at 2864 Franklin St in Avondale Estates, Georgia 30002, presents a unique investment opportunity. Built in 1961 and completely renovated in 2018, this Class C property boasts all new electrical, plumbing, and HVAC systems, along with a new roof. The building sits on a single lot and comprises one unit, offering flexibility for a variety of uses. Its zoning is designated as "M," making it suitable for office showroom, office space, or even an art studio. Situated in the heart of Avondale Estates' business district, this property enjoys a highly convenient location within walking distance of numerous restaurants. Its proximity to Decatur and its less than eight-mile distance from Downtown Atlanta provide easy access to a larger metropolitan area. The vibrant community surrounding the building is experiencing significant growth, with several mixed-use developments recently completed or currently under construction. The area also offers abundant retail options, including seven grocery stores within a one-mile radius, highlighting the convenience and accessibility of this location. The asking price for this exceptional property is $835,000.

    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
    Avondale Estates
    County
    Dekalb
    State
    Georgia
    Longitude
    -84.2727
    Latitude
    33.7765
    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
    $9,811
    $17,920
    $194,360
    $212,280
    -
    $44,800
    $485,900
    $530,700

    Comparable in this City

    • Value Estimation
      $1,000,000
      6,118 SF

      2950 Franklin St

      MINI-WAREHOUSE, STORAGE • 6,118 SF
      2950 Franklin St, Avondale Estates, GA 30002-1037
      View Details
    • Value Estimation
      $565,000
      3,658 SF

      2842 Franklin St

      WAREHOUSE, STORAGE • 3,658 SF
      2842 Franklin St, Avondale Estates, GA 30002-1057
      View Details
    • Value Estimation
      $740,000
      8,428 SF

      120 Olive St

      WAREHOUSE, STORAGE • 8,428 SF
      120 Olive St, Avondale Estates, GA 30002-1006
      View Details
    • Value Estimation
      $760,000
      5,000 SF

      129 Maple St

      WAREHOUSE, STORAGE • 5,000 SF
      129 Maple St, Avondale Estates, GA 30002
      View Details
    • Value Estimation by Request
      2,280 SF

      2834 Washington St

      WAREHOUSE, STORAGE • 2,280 SF
      2834 Washington St, Avondale Estates, GA 30002
      View Details
    • Value Estimation
      $600,000
      5,440 SF

      2869 Washington St

      WAREHOUSE, STORAGE • 5,440 SF
      2869 Washington St, Avondale Estates, GA 30002-1000
      View Details

    Similar Nearby for Lease

    • $500 /Mo
      4,476 SF

      Avondale Estates Office Space

      Sophisticated office space in a prime Avondale Estates location.
      10 N Clarendon Ave, Avondale Estates, GA 30002
      View Details
    • Contact for pricing

      Avondale Estates Office Spaces Available

      Office spaces for rent in Avondale Estates, GA.
      122 N Avondale Rd, Avondale Estates, GA 30002
      View Details
    • $500 /Mo
      13,068 SF

      Sophisticated Office Space in Avondale

      Light-filled office space in a prime Avondale Estates location.
      10 N Clarendon Ave, Avondale Estates, GA 30002
      View Details
    • Contact for pricing

      Alpharetta Retail Space For Rent

      Freestanding building on a busy commercial corridor in Alpharetta.
      5570 Windward Pkwy, Alpharetta, GA 30002
      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.
    2864 Franklin St
    Avondale Estates, GA 30002-1029
    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
    2864 Franklin St, Avondale Estates, GA, 30002
    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!