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Property profile & analytics
OFF-MARKET
Estimated value
$560,000
Office Spaces
70 Lenox NE Rd Atlanta, GA 30324
Individually Owned
2-yr Hold
Free & Clear
Property ID
US22-0856038
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1996
Construction
WOOD
Total area
2,840 SF
Lot
0.06 ac (2,831 SF)
Zoning code
OI
APN
17 000600040822
UPID
US22-0856038
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
$455k
CAP Approach
CAP
$625k
Comparable Approach
Comparable
$540k
Blend (final)
Blend
$560k
Owner & transaction history
Rory G Spencer · 2 yrs held
Rory G Spencer
since 2023
Last sale
$565,000
3 recorded transactions
Zoning & alternative use
OI · Atlanta, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$800,000
+13.5%
Neighborhood: shopping center
$775,000
+9.9%
Medical building
$770,000
+9.8%
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
$565,000
ML approach
$455,000
CAP Approach
CAP Return
Estimation
6%
$675,000
6.5%
$625,000
7%
$580,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$705,000
Current use
COMMERCIAL (GENERAL)
$800,000
Change: +13% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$775,000
Change: +10% · Conversion: Difficult
MEDICAL BUILDING
$770,000
Change: +10% · Conversion: Easy
AUTO REPAIR, GARAGE
$720,000
Change: +3% · Conversion: Difficult
RETAIL STORES
$635,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$560k
Range $504k – $616k · ±10% · vs last sale $565k (Jul 28 2023)
Last sale anchor
$565k
Jul 28 2023
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
$197 / 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
Tax billed
$6,501
Tax year 2023
Assessed value
$157,040
Assessed 2023
Previous assessed
$157,040
+0.0% YoY
Effective rate
4.14%
On assessed value
Assessed land
$61,360
Assessed improvement
$95,680
Land market value
$153,400
Improvement market value
$239,200
Total market value
$392,600
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1996
Construction
WOOD
Heating
NONE
Stories
1
Total area
2,840 SF
Lot
0.06 ac (2,831 SF)
Zoning code
OI
APN
17 000600040822
UPID
US22-0856038
Jurisdiction
FULTON
Zoning & alternative use
OI · Atlanta, GA
Zoning OI · permitted uses
OI · 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
OFFICE BUILDING Current
Est. value
$705,000
COMMERCIAL (GENERAL)
Est. value
$800,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$775,000
MEDICAL BUILDING
Est. value
$770,000
AUTO REPAIR, GARAGE
Est. value
$720,000
RETAIL STORES
Est. value
$635,000
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1996
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.06 ac
Current owner
From public records · entity-resolved
Rory G Spencer
Individual
Free & Clear · 2 yrs held
Mailing address
70 LINGO WAY SW, ATLANTA, GA 30312
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2023
—
Rory G Spencer
Rory G Spencer
Warranty Deed
related
—
May 3, 2018
—
Klm Realty LLC
Klem Group INC
Warranty Deed
related
—
Jun 2, 2008
$565,000
Nivens Klem Group INC
Fryer,clara L
Grant Deed
$512,500 · Wachovia Sba Lndg
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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