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

    878 3Rd St NW Atlanta, GA 30318

    • Office buildings
    • 7,500 SF
    • 0.23 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-1512218
    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

    • JAMCO Properties, Inc. / Property Management Company

    Property Details for 878 3Rd St NW

    Year built
    1960
    Lot size
    0.23 lot acres
    Property size
    7,500 SF
    Zone code
    I1
    Property type
    Office buildings
    APN
    14 011200020491
    APU
    14011200020491

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,785,000
      6.5%
      $1,650,000
      7%
      $1,530,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,140,000
      Market price range: $400k - $1.43M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,510,000
      COMMERCIAL (GENERAL)
      $2,355,000
      INDUSTRIAL (GENERAL)
      $2,340,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Atlanta
    County
    Fulton
    State
    Georgia
    Longitude
    -84.409
    Latitude
    33.7788
    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
    $90,160
    $428,920
    $519,080
    -
    $225,400
    $1,072,300
    $1,297,700

    Comparable in this City

    • Value Estimation
      $28,005,000
      496,551 SF

      1010 Marietta NW St

      OFFICE BUILDING • 496,551 SF
      1010 Marietta NW St, Atlanta, GA 30318
      View Details
    • Value Estimation
      $4,200,000
      17,000 SF

      590 Means NW St

      OFFICE BUILDING (MULTI-STORY) • 17,000 SF
      590 Means NW St, Atlanta, GA 30318-0522
      View Details
    • Value Estimation by Request
      34,685 SF

      1175 Chattahoochee NW Ave

      OFFICE BUILDING (MULTI-STORY) • 34,685 SF
      1175 Chattahoochee NW Ave, Atlanta, GA 30318-3705
      View Details
    • Value Estimation
      $28,785,000
      45,612 SF

      1510 Ellsworth Industrial NW Blvd

      OFFICE BUILDING (MULTI-STORY) • 45,612 SF
      1510 Ellsworth Industrial NW Blvd, Atlanta, GA 30318-3700
      View Details
    • Value Estimation
      $1,115,000
      2,352 SF

      951 Image NW Ave

      OFFICE BUILDING (MULTI-STORY) • 2,352 SF
      951 Image NW Ave, Atlanta, GA 30318
      View Details
    • Value Estimation
      $1,185,000
      334,100 SF

      1025 Jefferson NW St

      OFFICE BUILDING • 334,100 SF
      1025 Jefferson NW St, Atlanta, GA 30318-8007
      View Details

    Similar Nearby for Sale

    • $1,900,000

      Midtown Office Building For Sale

      Two-story office building with high visibility and ample parking.
      360 14Th St NW, Atlanta, GA 30318
      View Details
    • Contact for pricing
      2,170 SF

      Prime Atlanta Medical Office Building

      2,170 SF Medical Office, Atlanta, GA
      290 14Th St, Atlanta, GA 30318
      View Details
    • Contact for pricing
      0.89 Acres

      Prime Atlanta Bishop Street Property

      0.89-acre development site, I-1 zoning.
      489 Bishop St, Atlanta, GA 30318
      View Details
    • $4,450,000
      11,500 SF

      Woodmont Lane Office Building

      Atlanta Office Building, 11,500 SF
      1431 Woodmont Ln, Atlanta, GA 30318
      View Details
    • $675,000
      900 SF

      Westside Recording Studio For Sale

      900 SF Studio, Atlanta, GA - Owner/User
      0 Woodmont Ln, Atlanta, GA 30318
      View Details
    • Contact for pricing
      28,874 SF

      Prime Atlanta Executive Office Building

      28,874 SF Multi-Tenant Office Space
      976 Jefferson St, Atlanta, GA 30318
      View Details

    Similar Nearby for Lease

    • $19 SF/Yr
      2,372 SF

      Atlanta Creative Loft Office Space

      Stylish Loft Office, Showroom Ready
      500 Bishop St, Atlanta, GA 30318
      View Details
    • $39 SF/Yr
      44,000 SF

      West Midtown Creative Office Space

      10,757 SF Available in Historic Building
      512 Means St, Atlanta, GA 30318
      View Details
    • $26 SF/Yr
      2,584 SF

      Prime Atlanta Executive Office Suite

      2,584 sq ft, Single Tenant, 25 Parking Spaces
      887 Marietta St, Atlanta, GA 30318
      View Details
    • $25 SF/Yr
      1,338 SF

      West Midtown Loft Office Space

      Loft office with flex and warehouse options for lease.
      751 James P Brawley Dr NW, Atlanta, GA 30318
      View Details
    • Contact for pricing

      Retail Spaces in Grove Park

      Retail and medical/office spaces available in transitioning Grove Park neighborhood.
      2045 Donald Lee Hollowell Pkwy Northwest, Atlanta, GA 30318
      View Details
    • $5 SF/Yr
      20,275 SF

      Prime Atlanta Creative Office Space

      Midtown West, 7,904 - 17,641 SF Available
      660 9Th St, Atlanta, GA 30318
      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.
    878 3Rd St NW
    Atlanta, GA 30318
    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.