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    3379 Flt Shls Rd Decatur, GA 30034-1300
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    Property profile & analytics

    3379 Flt Shls Rd, Decatur, GA 30034-1300

    View on Map
    • Garden apartment buildings
    • 13,260 SF
    • 17.12 lot acres
    Off-Market
    Last Sale Jan 2, 2024
    $18,750,000
    Property ID
    US22-4752534
    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
    $18,750,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 3379 Flt Shls Rd

    Year built
    1973
    Lot size
    17.12 lot acres
    Zone code
    RM85
    Property type
    Garden apartment buildings
    APN
    15 105 01 043
    APU
    1510501043

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 2, 2024 — Aspen Equity Holdings LLC Arbor Realty Commercial Real Estate Quit Claim Deed · related —
    May 7, 2021 $18,750,000 Aspen Equity Holdings LLC Aspen Woods Apartments Lllp Special Warranty Deed $16.4M · Arbor Realty Senior
    Apr 1, 2019 — Aspen Woods Apartments Lllp Republic Aspen Woods LP Quit Claim Deed · related —
    Mar 29, 2019 $13,352,000 Aspen Woods Apartments Lllp Republic Aspen Woods LP Limited Warranty Deed —
    Oct 31, 2017 $8,125,000 Republic Aspen Woods LP Michigan Management LLC Grant Deed —
    Oct 31, 2017 — Republic Aspen Woods LP Michigan Management LLC Quit Claim Deed · related $5.3M · Arbor Com'l Fndg I LLC
    May 8, 2013 $3,050,000 Michigan Management LLC Sbc 2011-1 Reo 105081 LLC Grant Deed —
    Apr 8, 2013 $5,231,487 Sbc 2011-1 Reo 105081 LLC Dt Atlanta I LP Trustees Deed —
    Sep 28, 2006 $7,172,500 Atlanta I LP Dt Pavilion,atlanta Partners Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $18,750,000
      ML approach
      $18,750,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $19,534,000
      Market price range: $3.09M - $24.6M
      AI Estimate
      $14,023,000
      Market price range: $513k - $18.8M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $13,255,000
      Current use
      INDUSTRIAL (GENERAL)
      $12,440,000
      Change: -6% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Dekalb
    State
    Georgia
    Longitude
    -84.2763
    Latitude
    33.7028
    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
    $244,994
    $268,400
    $14,060,440
    $14,328,840
    -
    $671,000
    $35,151,100
    $35,822,100

    Comparable in this City

    • Value Estimation
      $8,365,000
      28,820 SF

      3000 Ember Dr

      GARDEN APT, COURT APT (5+ UNITS)
      3000 Ember Dr, Decatur, GA 30034-1506
      View Details
    • Value Estimation by Request
      11,312 SF

      2567 Whites Ml Rd

      GARDEN APT, COURT APT (5+ UNITS)
      2567 Whites Ml Rd, Decatur, GA 30034-1135
      View Details
    • Value Estimation
      $13,240,000
      22,320 SF

      3820 Harvest Dr

      GARDEN APT, COURT APT (5+ UNITS)
      3820 Harvest Dr, Decatur, GA 30034
      View Details
    • Value Estimation by Request
      4,628 SF

      2505 Columbia Dr

      GARDEN APT, COURT APT (5+ UNITS)
      2505 Columbia Dr, Decatur, GA 30034-1781
      View Details
    • Value Estimation
      $10,545,000
      16,324 SF

      3301 Columbia Dr

      GARDEN APT, COURT APT (5+ UNITS)
      3301 Columbia Dr, Decatur, GA 30034
      View Details
    • Value Estimation
      $16,855,000
      8,820 SF

      3800 Flt Shls Pkwy

      GARDEN APT, COURT APT (5+ UNITS)
      3800 Flt Shls Pkwy, Decatur, GA 30034-4030
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Move-In Ready Condo with 3-Bedroom

      Spacious 3-bedroom, 2-bath condo near transportation and Waldrop Park.
      14203 Waldrop Cv, Decatur, GA 30034
      View Details
    • $315,000
      3,500 SF

      Decatur Multi-Family Property

      Multi-family property in Decatur, GA with significant equity-building potential.
      3737 Waldrop Rd, Decatur, GA 30034
      View Details
    • New
      $300,000
      1,926 SF

      Decatur Rental Property with Tenant

      Cash-flowing Decatur rental property with long-term tenant in place.
      3766 Conley Downs Ln, Decatur, GA 30034
      View Details
    • $600,000
      2.88 Acres

      Prime Commercial Land in Decatur

      2.87-acre commercial land parcel zoned C-1 with high development potential.
      3648 Panthersville Rd, Decatur, GA 30034
      View Details
    • $200,000
      1.01 Acres

      Decatur Commercial Land Parcel

      1-Acre commercial land parcel zoned for diverse development opportunities.
      3666 Panthersville Rd, Decatur, GA 30034
      View Details
    • Contact for pricing
      1,950 SF

      Retail Building Near I-20

      Vacant commercial building suitable for retail or restaurant use.
      2575 Flat Shoals Rd, Decatur, GA 30034
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail and Restaurant Spaces Available

      Retail, restaurant, and anchor spaces for lease near Atlanta.
      2801 Candler Rd, Decatur, GA 30034
      View Details
    • Contact for pricing

      Publix Anchored Retail Center

      Highly visible retail center in a densely populated area.
      3649 Flakes Mill Rd, Decatur, GA 30034
      View Details
    • Contact for pricing

      Decatur Retail Spaces Available

      Retail spaces available, ranging from 270 to 176,000 SqFt.
      2801 Candler Rd, Decatur, GA 30034
      View Details
    • Contact for pricing

      Retail Space Available For Lease

      Retail space for lease at 4920 Flat Shoals Pkwy.
      4920 Flat Shoals Pkwy, Decatur, GA 30034
      View Details
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    Decatur, GA 30034-1300
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    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
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