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Property profile & analytics
OFF-MARKET
Estimated value
$22,905,000
Garden apartment buildings
485 Lindbergh NE Dr Atlanta, GA 30324-3301
Entity Owned
1-yr Hold
Property ID
US22-1189146
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1997
Construction
WOOD
Total area
49,356 SF
Lot
9.77 ac (425,581 SF)
Zoning code
PDH
APN
17 0058 LL0428
UPID
US22-1189146
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$31.90M
Blend (final)
Blend
$22.91M
Owner & transaction history
Atlanta City Development Authority · 1 yrs held
Atlanta City Development Authority
since 2025
7 recorded transactions
Zoning & alternative use
PDH · Atlanta, 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 Atlanta submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Atlanta 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
APARTMENT HOUSE (5+ UNITS)
$30,435,000
Current use
RESTAURANT
$26,840,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$22.91M
Range $20.61M – $25.20M · ±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
$464 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$28,000,000
Assessed 2023
Previous assessed
$28,000,000
+0.0% YoY
Assessed land
$6,812,480
Assessed improvement
$21,187,520
Land market value
$17,031,200
Improvement market value
$52,968,800
Total market value
$70,000,000
Applied tax rate
5.0000
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
1997
Construction
WOOD
Heating
YES
Cooling
YES
Buildings
12
Stories
1
Units
41
Bathrooms
11
Total area
49,356 SF
Lot
9.77 ac (425,581 SF)
Zoning code
PDH
APN
17 0058 LL0428
UPID
US22-1189146
Jurisdiction
FULTON
Zoning & alternative use
PDH · Atlanta, GA
Zoning PDH · permitted uses
PDH · Atlanta, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Atlanta. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$30.4M
RESTAURANT
Est. value
$26.8M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
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
Heating
YES
Cooling
Yes
Stories
1
Buildings
12
Units
41
Bathrooms
11
Lot
9.77 ac
Current owner
From public records · entity-resolved
Atlanta City Development Authority
Entity
Mailing address
300 S WACKER DR #3600, CHICAGO, IL 60606-6680
Ownership since
2025
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
Apr 30, 2025
—
Atlanta City Development Authority
Wcv Pointe Lindbergh Tenant LLC
Quitclaim Deed
related
—
Apr 28, 2025
—
Atlanta Development Authority
Wcv Pointe Lindbergh LLC
Warranty Deed
—
Aug 19, 2021
—
Wcv Pointe Lindbergh LLC
Pointe Lindbergh Apartments LLC
Limited Warranty Deed
—
Aug 9, 2021
—
Wcv Pointe Lindbergh LLC
Pointe Lindbergh Apartments LLC
Quit Claim Deed
related
—
Dec 3, 2019
—
Pointe Lindbergh Tenant LLC
—
Deed
related
$7,455,000 · Cbre Cap Markets
Dec 6, 2016
—
Pointe Lindbergh Apartments Ll
Post Apartment Homes LP
Quit Claim Deed
related
$53,753,000 · Cbre Cap Markets
Dec 6, 2016
$1,000
Pointe Lindbergh Apartments Ll
Post Apartment Homes LP
Grant Deed
related
—
—
—
Pointe Lindbergh Tenant LLC
—
Deed Of Trust
related
$7,455,000 · Cbre Cap Markets
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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