Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    728 Monroe NE Dr Atlanta, GA 30308-4523

    • Retail space
    • 9,500 SF
    • 0.56 lot acres
    OFF-MARKET
    Last Sale
    Apr 22, 2022
    $3,250,000
    Value Estimations
    $2,630,000
    Show details
    Cap Rate Potential
    4.3%
    Retail space
    Location Intelligence
    Property ID
    US22-0961462
    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

    • Heartbreakers Burgers / Hamburger Restaurant / Mobile Caterer
    • Big Easy Snoballs / Dessert Shop
    • Realm Dispensary - Midtown / Cannabis Store
    • Crybaby / Night Club / Cocktail Bar
    • Zolani Massage and Spa / Massage Therapist

    Property Details for 728 Monroe NE Dr

    Year built
    1959
    Construction
    WOOD
    Lot size
    0.56 lot acres
    Property size
    9,500 SF
    Zone code
    C1
    Property type
    Retail space
    APN
    14 004800070453
    APU
    14004800070453

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,605,000
      ML approach
      $2,865,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,845,000
      6.5%
      $1,705,000
      7%
      $1,580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,701,000
      Market price range: $953k - $3.76M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,130,000
      Current use
      COMMERCIAL (GENERAL)
      $2,670,000
      Change: +25% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $2,585,000
      Change: +21% Conversion: Moderate
      MEDICAL BUILDING
      $2,585,000
      Change: +21% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,410,000
      Change: +13% Conversion: Difficult
      OFFICE BUILDING
      $2,225,000
      Change: +4% Conversion: Easy
      INDUSTRIAL (GENERAL)
      $2,120,000
      Change: -1% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Atlanta
    County
    Fulton
    State
    Georgia
    Longitude
    -84.3714
    Latitude
    33.7743
    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
    $379,080
    $875,560
    $1,254,640
    -
    $947,700
    $2,188,900
    $3,136,600

    Comparable in this City

    • Value Estimation
      $135,000
      3,559 SF

      432 Ponce De Leon NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,559 SF
      432 Ponce De Leon NE Ave, Atlanta, GA 30308-2015
      View Details
    • Value Estimation
      $155,000
      12,728 SF

      533 Ponce De Leon NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 12,728 SF
      533 Ponce De Leon NE Ave, Atlanta, GA 30308
      View Details
    • Value Estimation
      $135,000
      5,840 SF

      474 Ponce De Leon NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,840 SF
      474 Ponce De Leon NE Ave, Atlanta, GA 30308-1836
      View Details
    • Value Estimation
      $1,455,000
      6,948 SF

      785 Argonne NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,948 SF
      785 Argonne NE Ave, Atlanta, GA 30308-1659
      View Details
    • Value Estimation
      $370,000
      2,904 SF

      400 Peachtree NW St

      RETAIL STORES (PERSONAL SERVICES) • 2,904 SF
      400 Peachtree NW St, Atlanta, GA 30308-3505
      View Details
    • Value Estimation
      $145,000
      1,688 SF

      402 Nn NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 1,688 SF
      402 Nn NE Ave, Atlanta, GA 30308-2504
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Prime Restaurant Space in Atlanta

      2,700 sq ft restaurant space in a high-traffic Atlanta location.
      550 Piedmont Ave, Atlanta, GA 30308
      View Details
    • $1,600,000
      0.25 Acres

      Renovated Quadplex Near Piedmont Park

      Luxurious quadplex near Piedmont Park, BeltLine, dining, and entertainment.
      800 Myrtle St NE, Atlanta, GA 30308
      View Details
    • Contact for pricing
      0.27 Acres

      Atlanta Commercial Storefronts

      Prime Atlanta locations, various sizes.
      696 Charles Allen Rd Ave, Atlanta, GA 30308
      View Details
    • $225,000

      Updated Condo in Old Fourth Ward

      Updated 1BR condo near parks, shops, and Atlanta attractions.
      33 Finch Trl NE, Atlanta, GA 30308
      View Details
    • Contact for pricing

      Piedmont Avenue Specialty Property

      Specialty property available for sale on Piedmont Avenue.
      729 Piedmont Ave NE, Atlanta, GA 30308
      View Details
    • $1,549,000

      Luxury Midtown Residence with Terrace

      Upscale 3-bedroom condo with premium amenities and smart-home technology.
      867 Peachtree St NE, Atlanta, GA 30308
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      7,556 SF

      Prime Midtown Retail Space Available

      Divisible retail space in mixed-use building on Peachtree Street.
      710 Peachtree St NE, Atlanta, GA 30308
      View Details
    • $3,200 /Mo
      11,805 SF

      Atlanta Commercial Storefronts For Lease

      Commercial storefronts available in a vibrant area with premier exposure.
      696 Charles Allen Rd Ave NE, Atlanta, GA 30308
      View Details
    • $4,300 /Mo
      11,805 SF

      Atlanta Storefronts for Diverse Ventures

      Commercial storefronts in a vibrant area, customizable for various businesses.
      432 Ponce De Leon Ave NE, Atlanta, GA 30308
      View Details
    • Contact for pricing
      2,108 SF

      Midtown Retail Space Available

      2,108 SF retail space in a prominent Midtown location.
      100-112 6Th St, Atlanta, GA 30308
      View Details
    • Contact for pricing
      6,716 SF

      Prime Atlanta Retail Space

      6,716 SF Free-Standing Retail Building
      420 Ponce De Leon Ave, Atlanta, GA 30308
      View Details
    • $3,200 /Mo

      Storefront Property on Charles Allen

      Storefront property with storage area and bathroom available for rent.
      696 Charles Allen Dr Ne, Atlanta, GA 30308
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    728 Monroe NE Dr
    Atlanta, GA 30308-4523
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.