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450 Capitol Ave SE
Atlanta, GA 30312
Adaptive Re-Use Development Opportunity · Multifamily Property For Sale
·
260 Units
Investment Highlights
- Total of ± 246,000 existing SF with parking deck/garage on ± 3.25 acres | Zoned MRC-3C
- Permitted and approved for a 260-unit apartment conversion, with 33,000 SF of retail
- Site has up to ± 773,000 SF of remaining FAR under the existing entitlements | Up to ± 915,000 SF of FAR with bonuses
- Building is currently gutted (concrete shell) with 98% of asbestos remediated (was a 406-room hotel with conference/banquet space and outdoor pool)
- Seller also has plans for 287 units with 23,000 SF of retail (no permits or approvals)
- Located within walking distance of Downtown Atlanta & Georgia State University | Easy access to I-85 and I-20
Property Facts
| No. Units | 260 | Lot Size | 3.25 AC |
| Property Type | Multifamily | Construction Status | Proposed |
| Property Subtype | Apartment | Building Size | 246,000 SF |
| Apartment Style | Hi-Rise | No. Stories | 15 |
| Building Class | A | Year Built | 2027 |
| Zoning | MRC-3C - Mixed-Use, Residential | ||
| No. Units | 260 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Hi-Rise |
| Building Class | A |
| Lot Size | 3.25 AC |
| Construction Status | Proposed |
| Building Size | 246,000 SF |
| No. Stories | 15 |
| Year Built | 2027 |
| Zoning | MRC-3C - Mixed-Use, Residential |
Amenities
Site Amenities
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 159 | - | 330 - 480 |
Property Taxes
| Parcel Number | 14-0053-0004-209-0 | Improvements Assessment | $2,090,800 |
| Land Assessment | $1,709,200 | Total Assessment | $3,800,000 |
Property Taxes
Parcel Number
14-0053-0004-209-0
Land Assessment
$1,709,200
Improvements Assessment
$2,090,800
Total Assessment
$3,800,000
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