223 Ponce De Leon Avenue
Atlanta, GA 30308 ·
9,000 SF · Office For Sale
Midtown 3-Story Commercial/Office/Other
|Building Size||9,000 SF||Building Class||B|
|Property Use Type||Investment||Corridor||Yes|
|Commission Split||3%||Lot Size||0.20 AC|
|Cap Rate||12%||APN / Parcel ID||14 -0049-0010-063-0|
|Occupancy||100%||Parking Ratio||9 / 1,000 SF|
|Listing ID: 16659386||Date Created: 04/23/2010||Last Updated: 04/05/2013|
The Poinsettia was constructed in 1928, is three stories, totaling approx. 9,000 sf. This historic building was formerly known as the Woodruff Inn Bed and Breakfast (past guests include Al Capone). The interior boosts many original architectural features including hardwood floors, high ceilings, distinctive base and crown moldings, expansive porches and oversized doorways and windows. The Poinsettia building is zoned C-2 and is situated on a .20 acre site. The first floor has central heat and air. The second and third floors have window air conditioning units and heat is provided by a central boiler system. The current owner has made substantial capital improvements to the building in the last 5-years. Improvements include spending over $20,000 replacing the pitched metal roof, replacing the plumbing and upgrading the electrical. Most guests park along Myrtle Street. There is a underutilized, small garden area at the rear of the property that could be used for additional parking. The property owners previously operated the bed and breakfast and a youth hostel next door, before selling the adjacent property. Currently this operates as a hostel.
The Poinsettia is a historic building located at 223 Ponce De Leon Avenue NE, in the Midtown Area of Atlanta, Georgia. Situated in the Southeast corner of Ponce De Leon Avenue and Myrtle Avenue, the property has excellent visibility, offers easy access to all major interstates, is walking distance to the Fox Theater / MARTA and is minutes from Downtown. Within a few blocks a major transformation and redevelopment boom has occurred, including luxury townhouses, a Publix anchored retail center and numerous hotel and condominium projects.
- Great Midtown Location
- Classic 1920s Construction
- Currently in use as profitable youth hostel
- C2 Zoned Lot Allows for Multiple Uses
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