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Property profile & analytics
FOR LEASE
Grocery and convenience stores
3479 Memorial Dr Decatur, GA 30032
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US22-4016484
For Lease
1 / 11
$15,745,000
3479 Memorial Dr, Decatur, GA 30032
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Property summary
AI-generated overview
Belvedere Plaza in Decatur, Georgia, presents a unique opportunity for retailers seeking high-traffic locations. This bustling retail development, situated at 3479 Memorial Drive, zip code 30032, offers multiple storefront spaces within a larger 274,518 square foot building. Currently, 30,467 square feet of retail space is available, divisible into units ranging from a minimum of 1,400 square feet to a maximum contiguous space of 5,963 square feet. Eight individual spaces are currently available for lease. The property benefits from exceptional visibility and consistent foot traffic generated by its proximity to established national retailers such as Kroger, Planet Fitness, Hibbett Sports, and Value Village, ensuring a steady stream of potential customers. This prime location in Decatur offers businesses the chance to thrive in a vibrant and well-established commercial area. The property's address is easily accessible, providing convenient access for both customers and employees. This is an exceptional opportunity to secure retail space in a high-demand area with strong existing tenant synergy. Interested parties should inquire about available space and lease terms.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1993
Construction
WOOD FRAME
Total area
78,990 SF
Lot
5 ac (217,800 SF)
Zoning code
C-1
APN
15 200 02 039
UPID
US22-4016484
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
-
higi Physician
-
First Class Barber Shop Barber Shop
-
Kroger Pharmacy Pharmacy
-
Belvedere Plaza Shopping Center & Mall
-
Kroger Deli Food Market Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$17.10M
Comparable Approach
Comparable
$13.49M
Blend (final)
Blend
$15.75M
Owner & transaction history
Hutton Belvedere LLC · 4 yrs held
Hutton Belvedere LLC
since 2022
Last sale
$21.8M
4 recorded transactions
Zoning & alternative use
C-1 · Decatur, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$20.9M
+57.6%
Office building
$20.0M
+51.3%
Commercial (general)
$19.0M
+43.5%
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
$17,840,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$18,515,000
6.5%
$17,095,000
7%
$15,870,000
Alternative Use
Use
Estimation
RETAIL STORES
$13,235,000
Current use
AUTO REPAIR, GARAGE
$20,855,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$20,020,000
Change: +51% · Conversion: Easy
COMMERCIAL (GENERAL)
$18,990,000
Change: +44% · Conversion: Easy
MEDICAL BUILDING
$18,300,000
Change: +38% · Conversion: Difficult
Blend value · Realmo final
$15.75M
Range $14.17M – $17.32M · ±10% · vs last sale $21.75M (May 20 2022)
Last sale anchor
$21.75M
May 20 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
$199 / 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
$125,208
Tax year 2024
Assessed value
$3,156,400
Assessed 2024
Previous assessed
$3,156,400
+0.0% YoY
Effective rate
3.97%
On assessed value
Assessed land
$547,300
Assessed improvement
$2,609,100
Land market value
$1,368,251
Improvement market value
$6,522,749
Total market value
$7,891,000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
For Lease
Year built
1993
Construction
WOOD FRAME
Heating
NONE
Cooling
YES
Stories
1
Total area
78,990 SF
Lot
5 ac (217,800 SF)
Zoning code
C-1
APN
15 200 02 039
UPID
US22-4016484
Jurisdiction
DE KALB
Zoning & alternative use
C-1 · Decatur, GA
Zoning C-1 · permitted uses
C-1 · 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
RETAIL STORES Current
Est. value
$13.2M
AUTO REPAIR, GARAGE
Est. value
$20.9M
OFFICE BUILDING
Est. value
$20.0M
COMMERCIAL (GENERAL)
Est. value
$19.0M
MEDICAL BUILDING
Est. value
$18.3M
RETAIL STORES Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1993
Construction
WOOD FRAME
Heating
NONE
Cooling
Yes
Stories
1
Lot
5 ac
Current owner
From public records · entity-resolved
Hutton Belvedere LLC
Entity
Free & Clear · 4 yrs held
Mailing address
736 CHERRY ST, CHATTANOOGA, TN 37402-1909
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2022
$21,750,000
Hutton Belvedere LLC
Ariel Belvedere Owner Holdings LLC
Limited Warranty Deed
—
Dec 17, 2012
$10,393,300
Ariel Belvedere Owner Holdings
Ariel Belvedere Owner LLC
Grant Deed
related
$18,500,000 · Cantor Commercial Real Estate
Jun 7, 2004
$69,430
Ariel Belvedere Owner LLC
Belvedere II LLC
Grant Deed
related
—
—
—
Ariel Belvedere Owner LLC
—
Deed Of Trust
related
$18,700,000 · Wells Fargo 2004-c3 (te)
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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