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Property profile & analytics
OFF-MARKET
Estimated value
$2,145,000
Outlet malls
3614 Memorial Dr Decatur, GA 30032-2406
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US22-1566504
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1997
Construction
WOOD FRAME
Total area
9,400 SF
Lot
0.91 ac (39,640 SF)
Zoning code
X
APN
15 217 04 020
UPID
US22-1566504
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
-
NAPA Auto Parts Auto Parts Store
-
Quality Landscape & Tree Services Landscaping General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.04M
Comparable Approach
Comparable
$2.73M
Blend (final)
Blend
$2.15M
Owner & transaction history
Victor E Alessi · 4 yrs held
Victor E Alessi
since 2021
4 recorded transactions
Zoning & alternative use
X · Decatur, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.5M
+57.6%
Office building
$2.4M
+51.3%
Commercial (general)
$2.3M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,205,000
6.5%
$2,035,000
7%
$1,890,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,575,000
Current use
AUTO REPAIR, GARAGE
$2,480,000
Change: +58% · Conversion: Difficult
OFFICE BUILDING
$2,380,000
Change: +51% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,260,000
Change: +44% · Conversion: Easy
MEDICAL BUILDING
$2,180,000
Change: +38% · Conversion: Difficult
Blend value · Realmo final
$2.15M
Range $1.93M – $2.36M · ±10%
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
$228 / 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
$33,521
Tax year 2024
Assessed value
$735,600
Assessed 2024
Previous assessed
$735,600
+0.0% YoY
Effective rate
4.56%
On assessed value
Assessed land
$134,760
Assessed improvement
$600,840
Land market value
$336,900
Improvement market value
$1,502,100
Total market value
$1,839,000
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1997
Construction
WOOD FRAME
Heating
NONE
Cooling
YES
Stories
1
Bathrooms
1
Total area
9,400 SF
Lot
0.91 ac (39,640 SF)
Zoning code
X
APN
15 217 04 020
UPID
US22-1566504
Jurisdiction
DE KALB
Zoning & alternative use
X · Decatur, GA
Zoning X · permitted uses
X · 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
$1.6M
AUTO REPAIR, GARAGE
Est. value
$2.5M
OFFICE BUILDING
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.2M
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
1997
Construction
WOOD FRAME
Heating
NONE
Cooling
Yes
Stories
1
Bathrooms
1
Lot
0.91 ac
Current owner
From public records · entity-resolved
Victor E Alessi
Individual
Free & Clear · 4 yrs held
Mailing address
2999 WILDWOOD PKWY, ATLANTA, GA 30339-8580
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Aug 7, 2024
—
Alessi Family Trust
—
Deed
related
$715,667 · First Savings Bank
Sep 30, 2021
—
Victor E Alessi
Victor E Alessi
Warranty Deed
related
—
Apr 11, 2017
$750,000
Enfold Decatur LLC
Gp Decatur LLC
Grant Deed
—
Feb 27, 2014
$1,339,500
Gp Decature Ga Landlord LLC
Us Bk National Assn
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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