Property profile

7423 Mcelroy Dr Riverdale, GA 30296

FOR SALE
Investment properties
Property ID
US22-0473802
1,464 SF 1.61 ac lot Built 1952
Individually Owned Free & Clear
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Property summary

AI-generated overview

This exceptional 1.61-acre commercial property, located at 7423 McElroy Drive in Riverdale, Georgia, presents a compelling investment opportunity for developers and discerning investors. Situated at the strategic intersection of GA Highway 85 and GA Highway 138, this lot benefits from high visibility and convenient access to major transportation arteries. The property is part of a larger 5.279-acre assemblage, encompassing parcels at 7471, 7423, 7453, and 7471 McElroy Road (see separate listings for details). Importantly, these properties will be sold as a single unit and will not be subdivided. The current zoning designation is General Business (GB), allowing for a range of permitted commercial uses. The expansive acreage is particularly well-suited for residential townhome development, offering significant potential for substantial returns. Detailed zoning information and permitted business types are available upon request (see accompanying photos). Priced at $608,523, this property represents a rare chance to acquire a substantial land holding in a rapidly developing area. Don't miss this opportunity to capitalize on the significant growth potential of this prime Riverdale location.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1952
Construction FRAME
Total area 1,464 SF
Lot 1.61 ac (70,001 SF)
Zoning code GB
APN 13-183C- A-012
UPID US22-0473802

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

7423 Mcelroy Dr Riverdale, GA 30296
Riverdale metro Census 40513 ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$295k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$265k

Owner & transaction history

Zoning & alternative use

GB · Riverdale, GA

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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