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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    609 Virginia NE Ave Atlanta, GA 30306-5106

    • Garden apartment buildings
    • 42,060 SF
    • 6.50 lot acres
    OFF-MARKET
    Last Sale
    Jul 23, 2025
    Value Estimations
    $7,540,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1908927
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bill Blackmon Enterprises / General Contractor
    • Body Massage + Spirit Healing by Santiago Therapist / Massage Therapist
    • Virginia Highlands Apartment Homes / Apartment Complex
    • Bushy Beaver Clothing Company / Clothing Store
    • LocationSpotted.com / Real Estate Agent

    Property Details for 609 Virginia NE Ave

    Year built
    1988
    Construction
    WOOD
    Lot size
    6.50 lot acres
    Property size
    42,060 SF
    Zone code
    R4
    Property type
    Garden apartment buildings
    APN
    17 005300120097
    APU
    17005300120097

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $9,975,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $7,730,000
      6.5%
      $7,135,000
      7%
      $6,630,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $5,505,000
      Market price range: $2.32M - $5.51M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Atlanta
    County
    Fulton
    State
    Georgia
    Longitude
    -84.3662
    Latitude
    33.7808
    CBSA code
    12060
    CBSA name
    ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $0.00
    $4,320,000
    $27,325,880
    $31,645,880
    -
    $10,800,000
    $68,314,700
    $79,114,700

    Comparable in this City

    • Value Estimation
      $1,570,000
      13,038 SF

      1401 Markan NE Dr

      GARDEN APT, COURT APT (5+ UNITS) • 13,038 SF
      1401 Markan NE Dr, Atlanta, GA 30306
      View Details
    • Value Estimation
      $2,730,000
      27,251 SF

      860 Briarcliff NE Rd

      GARDEN APT, COURT APT (5+ UNITS) • 27,251 SF
      860 Briarcliff NE Rd, Atlanta, GA 30306-4092
      View Details
    • Value Estimation
      $33,145,000
      69,207 SF

      1295 Rock Spgs NE Rd

      GARDEN APT, COURT APT (5+ UNITS) • 69,207 SF
      1295 Rock Spgs NE Rd, Atlanta, GA 30306-2318
      View Details
    • Value Estimation
      $615,000
      4,907 SF

      1031 Virginia NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 4,907 SF
      1031 Virginia NE Ave, Atlanta, GA 30306-3523
      View Details
    • Value Estimation
      $800,000
      6,766 SF

      1251 Virginia NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 6,766 SF
      1251 Virginia NE Ave, Atlanta, GA 30306-4824
      View Details
    • Value Estimation
      $870,000
      4,896 SF

      559 Amsterdam NE Ave

      GARDEN APT, COURT APT (5+ UNITS) • 4,896 SF
      559 Amsterdam NE Ave, Atlanta, GA 30306-3416
      View Details

    Similar Nearby for Sale

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      13,000 SF

      Atlanta 10-Unit Apartment Building

      Prime Intown Location, Newly Renovated
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    • $1,050,000
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      Virginia Highland Multifamily Investment Opportunity

      Well-maintained, fully occupied six-unit building near Beltline and Ponce City Market.
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    • New
      $1,800,000
      0.23 Acres

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      11-unit multifamily property near Atlanta BeltLine with income upside.
      996 Greenwood Ave NE, Atlanta, GA 30306
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    • New
      $1,800,000
      0.23 Acres

      Virginia-Highland Multifamily Investment Opportunity

      Eleven-unit multifamily property in prime Atlanta location near BeltLine.
      996 Greenwood Ave NE, Atlanta, GA 30306
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    • $1,050,000
      2,640 SF

      Virginia Highland Multifamily Investment Property

      Well-maintained, fully occupied 6-unit building near Beltline and Ponce City Market.
      758 Saint Charles Ave NE, Atlanta, GA 30306
      View Details
    • $3,200,000

      Renovated Apartment Building in Poncey Highland

      Ten-unit apartment building in a sought-after Atlanta neighborhood.
      678 Moreland Ave, Atlanta, GA 30306
      View Details

    Similar Nearby for Lease

    • $2,900 /Mo
      1,572 SF

      Charming Triplex Apartment Near Downtown

      Spacious 3-bedroom apartment near downtown Va Highlands.
      1280 Stillwood Dr NE, Atlanta, GA 30306
      View Details
    • $1,875 /Mo

      Renovated Morningside Unit For Rent

      Renovated 1 bed, 1 bath unit in Midtown location.
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      View Details
    • $1,300 /Mo
      6,625 SF

      Premium Office Suites in Atlanta

      Renovated office suites with skyline views, flexible lease terms.
      1074 Ponce De Leon Ave NE, Atlanta, GA 30306
      View Details
    • $1,575 /Mo

      Renovated Warehouse/Flex Space in Atlanta

      1,000 SF warehouse/flex space in Morningside/Lenox Park District.
      1178 Zonolite Pl NE, Atlanta, GA 30306
      View Details
    • Contact for pricing

      Telephone Factory Lofts

      Live / Work Space Located Directly On The Beltline
      828 Ralph Mcgill Blvd UNIT W01, Atlanta, GA 30306
      View Details
    • Contact for pricing
      39,446 SF

      Modern Office Tower on BeltLine

      372,000 SF office tower with BeltLine access.
      725 Ponce De Leon Ave NE, Atlanta, GA 30306
      View Details
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    609 Virginia NE Ave
    Atlanta, GA 30306-5106
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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