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Property profile & analytics
OFF-MARKET
Estimated value
$23,580,000
Garden apartment buildings
2950 Cobb SE Dr Smyrna, GA 30080-7828
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US22-0960652
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1963
Total area
160,030 SF
Lot
13.38 ac (582,963 SF)
Zoning code
RM-12
APN
17037800400
UPID
US22-0960652
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Evolve Cleaning Service Hardware & Home Improvement
-
Novus on Cobb Apartment Complex
-
Planet Stars 24Hr Childcare Daycare Center Foster Care Service
-
castle gate properties Real Estate Agency
-
Lexington Park Apartment Complex Condominium Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$24.00M
Blend (final)
Blend
$23.58M
Owner & transaction history
Spectrum Southeast LLC · 3 yrs held
Spectrum Southeast LLC
since 2023
Last sale
$24.0M
7 recorded transactions
Zoning & alternative use
RM-12 · Smyrna, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The RM-12 district is comprised primarily of existing medium density residential areas of the city and suitable vacant or open areas where similar residential development appears likely to occur. The intent in establishing the RM12 district, is to preserve and protect existing residential development and to encourage similar and complementary type residentia…
Zone name
Multifamily Residential
General category
RESIDENTIAL
Zone area
691.27 ac
Source
Realmo
Top alternative use upside
Retail stores
$37.0M
+30.3%
Auto repair, garage
$31.9M
+12.1%
Neighborhood: shopping center
$31.4M
+10.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Smyrna submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Smyrna submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$22,310,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$28,400,000
Current use
RETAIL STORES
$37,000,000
Change: +30% · Conversion: Difficult
AUTO REPAIR, GARAGE
$31,850,000
Change: +12% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$31,355,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$23.58M
Range $21.22M – $25.94M · ±10% · vs last sale $24.00M (Feb 24 2023)
Last sale anchor
$24.00M
Feb 24 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$147 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$188,875
Tax year 2024
Assessed value
$6,954,160
Assessed 2024
Previous assessed
$6,954,160
+0.0% YoY
Effective rate
2.72%
On assessed value
Assessed land
$2,238,576
Assessed improvement
$4,715,584
Land market value
$5,596,440
Improvement market value
$11,788,960
Total market value
$17,385,400
Applied tax rate
6.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1963
Heating
NONE
Buildings
6
Units
156
Total area
160,030 SF
Lot
13.38 ac (582,963 SF)
Zoning code
RM-12
APN
17037800400
UPID
US22-0960652
Jurisdiction
COBB
Zoning & alternative use
RM-12 · Smyrna, GAZoning RM-12 · permitted uses
RM-12 · Smyrna, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The RM-12 district is comprised primarily of existing medium density residential areas of the city and suitable vacant or open areas where similar residential development appears likely to occur. The intent in establishing the RM12 district, is to preserve and protect existing residential development and to encourage similar and complementary type residential development together with associated recreational, religious and educational facilities
Zone name
Multifamily Residential
General category
RESIDENTIAL
Zone area
691.27 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$28.4M
RETAIL STORES
Est. value
$37.0M
AUTO REPAIR, GARAGE
Est. value
$31.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$31.4M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
AUTO REPAIR, GARAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1963
Heating
NONE
Buildings
6
Units
156
Lot
13.38 ac
Current owner
From public records · entity-resolved
Spectrum Southeast LLC
Entity
Free & Clear · 3 yrs held
Mailing address
2849 S PACES FRY RD SE STE #100, ATLANTA, GA 30339-3769
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2023
—
Spectrum Southeast LLC
Hilltop Cobb 2950 LLC
Agreement Of Sale
—
Mar 29, 2023
—
Cbre Capital Markets INC
2950 South Cobb Drive LP
Deed
—
Feb 24, 2023
$24,000,000
Hilltop Cobb 2950 LLC
South Cobb Drive LP
Deed
$15,713,000 · M&t Realty Capital Corporation
Sep 29, 2020
—
2950 South Cobb Drive LP
Lexington Park LLC
Quit Claim Deed
related
—
Sep 29, 2020
$18,000,000
2950 South Cobb Drive LP
Lexington Park LLC
Grant Deed
—
Feb 3, 2017
—
Cumberland Run Investments LLC
Cumberland Run Holdings LLC
Quit Claim Deed
related
$5,750,000 · * Other Institutional Lenders
Feb 3, 2017
$4,000,000
Lexington Park LLC
Cumberland Run Holdings LLC
Grant Deed
—
Nov 22, 2013
—
Cumberland Run Holdings Gp
Brookview Apartments LLC
Quit Claim Deed
related
—
Oct 10, 2013
$5,300,000
Cumberland Run Holdings Gp
Brookview Apartments LLC
Grant Deed
related
$5,520,000 · Pinnacle Bank
—
—
Cumberland Run Holdings LLC
—
Deed Of Trust
related
$5,750,000 · Walker & Dunlop
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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