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Property profile & analytics
OFF-MARKET
Estimated value
$18,750,000
Garden apartment buildings
3379 Flt Shls Rd Decatur, GA 30034-1300
Entity Owned
2-yr Hold
Free & Clear
Property ID
US22-4752534
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1973
Total area
13,260 SF
Lot
17.12 ac (745,747 SF)
Zoning code
RM85
APN
15 105 01 043
UPID
US22-4752534
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$18.75M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.53M
Blend (final)
Blend
$18.75M
Owner & transaction history
Aspen Equity Holdings LLC · 2 yrs held
Aspen Equity Holdings LLC
since 2024
Last sale
$18.8M
7 recorded transactions
Zoning & alternative use
RM85 · Decatur, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Decatur submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Decatur 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
$18,750,000
ML approach
$18,750,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$13,255,000
Current use
INDUSTRIAL (GENERAL)
$12,440,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$18.75M
Range $16.88M – $20.63M · ±10% · vs last sale $18.75M (Jan 2 2024)
Last sale anchor
$18.75M
Jan 2 2024
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
$1,414 / 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
$244,994
Tax year 2024
Assessed value
$14,328,840
Assessed 2024
Previous assessed
$12,144,120
+18.0% YoY
Effective rate
1.71%
On assessed value
Assessed land
$268,400
Assessed improvement
$14,060,440
Land market value
$671,000
Improvement market value
$35,151,100
Total market value
$35,822,100
Applied tax rate
4.0000
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
1973
Heating
NONE
Cooling
YES
Buildings
19
Stories
2
Units
218
Total area
13,260 SF
Lot
17.12 ac (745,747 SF)
Zoning code
RM85
APN
15 105 01 043
UPID
US22-4752534
Jurisdiction
DE KALB
Zoning & alternative use
RM85 · Decatur, GA
Zoning RM85 · permitted uses
RM85 · Decatur, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Decatur. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$13.3M
INDUSTRIAL (GENERAL)
Est. value
$12.4M
APARTMENT HOUSE (5+ UNITS) Current
INDUSTRIAL (GENERAL)
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
1973
Heating
NONE
Cooling
Yes
Stories
2
Buildings
19
Units
218
Lot
17.12 ac
Current owner
From public records · entity-resolved
Aspen Equity Holdings LLC
Entity
Free & Clear · 2 yrs held
Mailing address
3379 FLT SHLS RD, DECATUR, GA 30034-1300
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
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
$16,350,000 · 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
$5,303,000 · 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
—
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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