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Property profile & analytics
OFF-MARKET
Estimated value
$32,480,000
Garden apartment buildings
50 Creekside NW Dr Kennesaw, GA 30144-3603
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US22-0870101
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1999
Total area
198,423 SF
Lot
15.31 ac (666,904 SF)
Zoning code
OI
APN
20013500070
UPID
US22-0870101
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
-
Charlestowne Apartments Apartment Complex
-
JubileeTCG (Bike/Boat/Book/etc) Store
-
St Charles LLC Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$32.48M
CAP Approach
CAP
$41.01M
Comparable Approach
Comparable
$23.05M
Blend (final)
Blend
$32.48M
Owner & transaction history
Wah15 Charlestowne LLC · 1 yrs held
Wah15 Charlestowne LLC
since 2024
Last sale
$32.5M
7 recorded transactions
Zoning & alternative use
OI · Kennesaw, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The OI Office/Institutional district is established to provide locations for nonretail commercial uses such as offices and financial institutions. The OI district is designed primarily to provide for four story and smaller office developments, office uses, motels, hotels, banking and professional offices that complement and provide step down nodal zoning awa…
Zone name
Office Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
153.97 ac
Source
Realmo
Top alternative use upside
Medical building
$48.7M
+14.9%
Retail stores
$43.2M
+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
$32,480,000
ML approach
$32,480,000
CAP Approach
CAP Return
Estimation
6%
$44,425,000
6.5%
$41,010,000
7%
$38,080,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$42,410,000
Current use
MEDICAL BUILDING
$48,735,000
Change: +15% · Conversion: Moderate
RETAIL STORES
$43,235,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$39,490,000
Change: -7% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$38,880,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$32.48M
Range $29.23M – $35.73M · ±10% · vs last sale $32.48M (Nov 12 2024)
Last sale anchor
$32.48M
Nov 12 2024
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
$164 / 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
$495,063
Tax year 2024
Assessed value
$16,420,000
Assessed 2024
Previous assessed
$18,032,000
-8.9% YoY
Effective rate
3.02%
On assessed value
Assessed land
$3,143,760
Assessed improvement
$13,276,240
Land market value
$7,859,400
Improvement market value
$33,190,600
Total market value
$41,050,000
Applied tax rate
3.0000
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
1999
Heating
NONE
Buildings
8
Units
184
Total area
198,423 SF
Lot
15.31 ac (666,904 SF)
Zoning code
OI
APN
20013500070
UPID
US22-0870101
Jurisdiction
COBB
Zoning & alternative use
OI · Kennesaw, GAZoning OI · permitted uses
OI · Kennesaw, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The OI Office/Institutional district is established to provide locations for nonretail commercial uses such as offices and financial institutions. The OI district is designed primarily to provide for four story and smaller office developments, office uses, motels, hotels, banking and professional offices that complement and provide step down nodal zoning away from more intensive commercial uses.
Zone name
Office Institutional
General category
CIVIC_INSTITUTIONAL
Zone area
153.97 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$42.4M
MEDICAL BUILDING
Est. value
$48.7M
RETAIL STORES
Est. value
$43.2M
AUTO REPAIR, GARAGE
Est. value
$39.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$38.9M
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
1999
Heating
NONE
Buildings
8
Units
184
Lot
15.31 ac
Current owner
From public records · entity-resolved
Wah15 Charlestowne LLC
Entity
Mailing address
6191 N STATE HWY 161ST BLVD E STE #100, IRVING, TX 75038-2290
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 12, 2024
$32,480,000
Wah15 Charlestowne LLC
Wop Charlestowne LLC
Deed
$21,330,000 · Federal National Mortgage Association
May 28, 2019
$31,600,000
Wop Charlestowne LLC
Sg Charlestowne LLC
Trustees Deed
$21,330,000 · Jones Lang Lasalle Multifamily
Sep 2, 2014
—
Sg Charlestowne LLC
Nnn St Charles LLC
Quit Claim Deed
related
$14,700,000 · Bank Of North Ga
Sep 2, 2014
$19,600,000
Sg Charlestowne LLC
Nnn St Charles LLC
Grant Deed
—
Jun 30, 2006
$716,300
Nnn St Charles Apts 32 LLC
Nnn St Charles LLC
Grant Deed
related
—
Jun 20, 2006
$716,250
St Charles Apartments 32 L Nnn
Nnn St Charles LLC
Grant Deed
related
—
Sep 30, 2005
$9,844,016
Safe St Charles LLC
St Charles Properties
Grant Deed
related
—
Sep 30, 2005
$17,814,100
Nnn St Charles LLC
St Charles Properties
Grant Deed
related
$12,100,000 · Barclays Capital R E INC
—
—
Sg Charlestowne LLC
—
Deed Of Trust
related
$15,000,000 · Miscellaneous Ins Co
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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