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Property profile & analytics
OFF-MARKET
Estimated value
$36,715,000
Garden apartment buildings
8 Cumberland SE Way Smyrna, GA 30080-7754
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US22-1453424
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1980
Total area
313,882 SF
Lot
22.33 ac (972,626 SF)
Zoning code
RM-12
APN
17081000010
UPID
US22-1453424
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
-
Blink Charging Station Electric Vehicle Charging Station
-
Elme Cumberland Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$36.77M
Blend (final)
Blend
$36.72M
Owner & transaction history
Washreit Alder Park LLC · 4 yrs held
Washreit Alder Park LLC
since 2022
Last sale
$36.0M
7 recorded transactions
Zoning & alternative use
RM-12 · Smyrna, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The RM-12 district is comprised primarily of existing medium density residential areas of the city and suitable vacant or open areas where similar residential development appears likely to occur. The intent in establishing the RM12 district, is to preserve and protect existing residential development and to encourage similar and complementary type residentia…
Zone name
Multifamily Residential
General category
RESIDENTIAL
Zone area
691.27 ac
Source
Realmo
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 Smyrna submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Smyrna 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
$38,005,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$55,700,000
Current use
Blend value · Realmo final
$36.72M
Range $33.04M – $40.39M · ±10% · vs last sale $36.04M (May 12 2022)
Last sale anchor
$36.04M
May 12 2022
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
$117 / 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
$550,155
Tax year 2024
Assessed value
$20,256,080
Assessed 2024
Previous assessed
$11,115,800
+82.2% YoY
Effective rate
2.72%
On assessed value
Assessed land
$7,080,716
Assessed improvement
$13,175,364
Land market value
$17,701,790
Improvement market value
$32,938,410
Total market value
$50,640,200
Applied tax rate
6.0000
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
1980
Heating
NONE
Buildings
9
Units
271
Total area
313,882 SF
Lot
22.33 ac (972,626 SF)
Zoning code
RM-12
APN
17081000010
UPID
US22-1453424
Jurisdiction
COBB
Zoning & alternative use
RM-12 · Smyrna, GAZoning RM-12 · permitted uses
RM-12 · Smyrna, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The RM-12 district is comprised primarily of existing medium density residential areas of the city and suitable vacant or open areas where similar residential development appears likely to occur. The intent in establishing the RM12 district, is to preserve and protect existing residential development and to encourage similar and complementary type residential development together with associated recreational, religious and educational facilities
Zone name
Multifamily Residential
General category
RESIDENTIAL
Zone area
691.27 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$55.7M
APARTMENT HOUSE (5+ UNITS) Current
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
1980
Heating
NONE
Buildings
9
Units
271
Lot
22.33 ac
Current owner
From public records · entity-resolved
Washreit Alder Park LLC
Entity
Mailing address
1775 I ST NW STE #1000, WASHINGTON, DC 20006-2404
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2022
$36,044,000
Washreit Alder Park LLC
Jasmine At The Galleria LLC
Limited Warranty Deed
—
May 12, 2022
—
Washreit Alder Park LLC
Jasmine At The Galleria LLC
Intrafamily Transfer
related
—
May 1, 2020
—
Jasmine At The Galleria LLC
—
Deed
related
$33,706,000 · Holliday Fenoglio Fowler
May 19, 2006
$16,700,000
Jasmine Of Galleria LLC
Tvo Cumberland Bridge Partners
Grant Deed
—
—
—
Jasmine At The Galleria LLC
—
Deed Of Trust
related
$18,375,000 · Walker & Dunlop
—
—
Jasmine At The Galleria LLC
—
Deed Of Trust
related
$15,350,000 · Lender Private Party
—
—
Jasmine At The Galleria LLC
—
Deed Of Trust
related
$33,706,000 · Holliday Fenoglio Fowler
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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