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Property profile & analytics
FOR LEASE
Community centers
3649 Flakes Mill Rd Decatur, GA 30034
Individually Owned
20-yr Hold
Absentee Owner
Free & Clear
Property ID
US22-1044861
For Lease
1 / 2
$955,000
3649 Flakes Mill Rd, Decatur, GA 30034
View Listing →
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1993
Construction
WOOD FRAME
Total area
7,200 SF
Lot
0.24 ac (10,411 SF)
Zoning code
X
APN
15 061 03 028
UPID
US22-1044861
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
-
Publix Pharmacy at Flat Shoals Crossing Shopping Center Pharmacy
-
Flat Shoals Crossing Grocery & Convenience Store Food Market
-
Redbox Cinema (Bike/Boat/Book/etc) Store
-
Amerigas Propane Exchange Propane Supplier
-
Primo Water Exchange Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.28M
Blend (final)
Blend
$955k
Owner & transaction history
Southeast Decatur Flat Inland · 20 yrs held
Southeast Decatur Flat Inland
since 2005
1 recorded transaction
Zoning & alternative use
X · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$820,000
Current use
Blend value · Realmo final
$955k
Range $860k – $1.05M · ±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
$133 / 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
$32,260
Tax year 2024
Assessed value
$731,472
Assessed 2024
Previous assessed
$731,472
+0.0% YoY
Effective rate
4.41%
On assessed value
Assessed land
$80,462
Assessed improvement
$651,010
Land market value
$201,155
Improvement market value
$1,627,525
Total market value
$1,828,680
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
Community centers
Use group
MINI-MALL
Status
For Lease
Year built
1993
Construction
WOOD FRAME
Heating
NONE
Cooling
YES
Stories
1
Total area
7,200 SF
Lot
0.24 ac (10,411 SF)
Zoning code
X
APN
15 061 03 028
UPID
US22-1044861
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$820,000
NEIGHBORHOOD: SHOPPING CENTER Current
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
0.24 ac
Current owner
From public records · entity-resolved
Southeast Decatur Flat Inland
Individual
Free & Clear · 20 yrs held
Mailing address
800 COMMERCE DR #300, OAK BROOK, IL 60523-2196
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 7, 2005
—
Southeast Decatur Flat Inland
Flat Shoals Crossing
Quit Claim Deed
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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