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Property profile & analytics
OFF-MARKET
Estimated value
$75,240,000
Garden apartment buildings
3453 Busbee NW Dr Kennesaw, GA 30144-5595
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US22-3269649
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2013
Total area
382,704 SF
Lot
18.72 ac (815,521 SF)
Zoning code
RM-16
APN
16036100020
UPID
US22-3269649
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
-
The Blake Apartment Complex Apartment Building
-
Zipcar Car Rental Facility
-
Sparrow travels Travel Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$79.10M
Comparable Approach
Comparable
$86.75M
Blend (final)
Blend
$75.24M
Owner & transaction history
Gep Xi Blake LLC · 1 yrs held
Gep Xi Blake LLC
since 2024
Last sale
$70.4M
7 recorded transactions
Zoning & alternative use
RM-16 · Kennesaw, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Home - City of Kennesaw
Top alternative use upside
Medical building
$94.0M
+14.9%
Retail stores
$83.4M
+1.9%
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 Kennesaw submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Kennesaw 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
$69,480,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$85,690,000
6.5%
$79,095,000
7%
$73,445,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$81,800,000
Current use
MEDICAL BUILDING
$94,000,000
Change: +15% · Conversion: Moderate
RETAIL STORES
$83,385,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$76,160,000
Change: -7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$74,985,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$75.24M
Range $67.72M – $82.76M · ±10% · vs last sale $70.44M (Apr 8 2022)
Last sale anchor
$70.44M
Apr 8 2022
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
$197 / 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
$842,501
Tax year 2024
Assessed value
$27,943,640
Assessed 2024
Previous assessed
$32,788,920
-14.8% YoY
Effective rate
3.02%
On assessed value
Assessed land
$3,496,132
Assessed improvement
$24,447,508
Land market value
$8,740,330
Improvement market value
$61,118,770
Total market value
$69,859,100
Applied tax rate
9.0000
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
2013
Heating
NONE
Buildings
2
Units
736
Total area
382,704 SF
Lot
18.72 ac (815,521 SF)
Zoning code
RM-16
APN
16036100020
UPID
US22-3269649
Jurisdiction
COBB
Zoning & alternative use
RM-16 · Kennesaw, GAZoning RM-16 · permitted uses
RM-16 · Kennesaw, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Home - City of Kennesaw
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$81.8M
MEDICAL BUILDING
Est. value
$94.0M
RETAIL STORES
Est. value
$83.4M
AUTO REPAIR, GARAGE
Est. value
$76.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$75.0M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
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
2013
Heating
NONE
Buildings
2
Units
736
Lot
18.72 ac
Current owner
From public records · entity-resolved
Gep Xi Blake LLC
Entity
Mailing address
345 PARK AVE FL #42, NEW YORK, NY 10154-0039
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 31, 2024
—
Gep Xi Blake LLC
—
Deed
related
$62,689,000 · Cbre Multifamily Capital INC
Sep 23, 2024
$73,980,000
Gep Xi Blake LLC
3453 Busbee Dr Ga Owner LLC
Deed
—
May 9, 2022
—
3453 Busbee Dr Ga Owner LLC
—
Deed
related
$248,100,000 · Morgan Stanley Bank NA
Apr 8, 2022
$70,436,000
3453 Busbee Dr Ga Owner LLC
Student Housing Spe Busbee LLC
Limited Warranty Deed
—
Apr 9, 2018
—
Student Housing Spe-busbee LLC
—
Deed
related
$7,100,000 · Berkadia Com'l Mtg
Nov 18, 2014
$49,725,000
Student Housing Spe-busbee LLC
Ga-ksu Holdings LLC
Grant Deed
related
$42,670,000 · Berkadia Com'l Mtg
Aug 30, 2012
$4,375,000
Ga-ksu Holdings LLC
Argonaut Associates Ltd LP
Grant Deed
related
$34,200,000 · Pnc Bank
—
—
Student Housing Spe-busbee LLC
—
Deed Of Trust
related
$7,100,000 · Berkadia Com'l Mtg
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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