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560 Dutch Valley Rd NE - The Belvedere 3,794 SF Office/Retail Condo Unit Offered at $1,200,000 in Atlanta, GA 30324
EXECUTIVE SUMMARY
Built in 2001, the Belvedere Building is a mixed-use community of high end-condominiums located along the Atlanta Beltline at Piedmont Park between Midtown, Virginia-Highland, Ansley Park and Morningside neighborhoods. The ground floor of the building is commercial space with a separate and dedicated surface parking lot serving the commercial. The upper floors of the building are residential condos with owners parking in a gate-secured garage.
PROPERTY FACTS
1 UNIT AVAILABLE
Unit 100
| Unit Size | 3,794 SF | Sale Type | Investment or Owner User |
| Price | $1,200,000 | Cap Rate | 8.01% |
| Price Per SF | $316.29 | NOI | $96,100 |
| Condo Use | Office/Retail | No. Parking Spaces | 30 |
| Unit Size | 3,794 SF |
| Price | $1,200,000 |
| Price Per SF | $316.29 |
| Condo Use | Office/Retail |
| Sale Type | Investment or Owner User |
| Cap Rate | 8.01% |
| NOI | $96,100 |
| No. Parking Spaces | 30 |
DESCRIPTION
Turn-key restaurant space leased through March 2027. Ideal for investor or owner-user that will cashflow while planning a new concept. Suite 100 is the ground-floor of the Belvedere Condos and comprises all of the commercial square footage of the building. The zoning allows for a wide variety of commercial uses, allowing for this space to transform into office, medical or special use if desired.
The space is beautifully designed with seating for 100 in the main dining area, 25-person private room, 50 seat patio, and separate bar area with seating for 12. The restaurant build-out received high-end renovations in 2023, including new kitchen equipment, fixtures and bar. Two new 15-ton RTU’s were installed within the past 4 years, offering energy efficient HVAC with 15+ year lifespan.
A gate from the outdoor patio leads directly to the Atlanta Beltline path, where it connects into Piedmont Park and the Atlanta Botanical Garden. Just 1,000 linear feet to the south along the Beltline, Portman Holdings is redeveloping Amsterdam Walk into a 1.2M sq ft mixed-use project including retail, commercial and over 1,000 apartments. Just 2,000 linear feet to the north along the Beltline is Ansley Mall with numerous retailers including Publix, LA Fitness and CVS.
A dedicated 30-space surface parking lot is adjacent to suite 100, a rare amenity in midtown, which serves the commercial space exclusively. This allows for dedicated parking at all times of the day. The current tenant utilizes valet to accommodate the heavier weekend crowds, while also utilizing a rideshare drop zone.
SALE NOTES
The property is leased on a modified gross basis with increases over base year for taxes and insurance. Equivalent net rent is well below market rent at a rate of roughly $22 psf NNN.
Investors will benefit from a "mark to market" leasing strategy, with typical Beltline fronting commercial space achieving rents from $35-$85 psf.
The space is comprised of GLA including 3,548 sf primary; 146 sf detached office; 636 sf storage mezzanine; 965 sf outdoor patio.
Buyer broker commission 4%
+4 More
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RTU 2
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UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 39 | - | - |
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560 Dutch Valley Rd NE - The Belvedere
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