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489 - 495 Peachtree Street NE - Redevelopment Site, Atlanta, GA

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489 - 495 Peachtree Street NE - Redevelopment Site

Atlanta, GA 30308 - Downtown Atlanta Submarket

(3.6 MB)

Property Type:Land Parcel Size:.94 Acres
Zoning:SPI-1
For Sale Price:$5,800,000 Price/Acre:$6,194,596 Price/SF:$142.21

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Sale Notes:

Excellent redevelopment, owner-user or buy and hold investment in a great location between Midtown and Downtown Atlanta.

Redevelopment: This development opportunity is an approximately 1 acre site on Peachtree Street in Midtown across from Emory University Hospital Midtown. The SPI-1 (sub area 2) zoned site includes 6 parcels with approximately 105' of frontage on Peachtree Street and approximately 162' on Courtland Street allowing for vari-ous development opportunities including apartments, office, medical, to name just a few. Additional parcels can be made available to increase the size of the site (call Andy Lundsberg for further details).

Owner-User: The property currently has 3 buildings totaling +/- 49,000 SF that front Peachtree Street directly across from Emory University Hospital Midtown. The largest building totaling +/- 34,000 SF currently has approximately 20,000 SF of office space available (of which approximately 8,000 SF is built-out for medical) for a potential owner-user. The remaining space in the building and adjacent retail build-ings along with some of the parking in the rear is tenant leased generating positive income to help cover most operating expenses.

Investment Opportunity: The existing improvements are currently +/- 60% occu-pied by tenants generating positive income that covers the current owner's holding costs. Value-add opportunity in leasing up vacant space with the added bonus of future redevelopment, making this property an excellent investment.

Bull Realty Inc.
Andy Lundsberg
(404) 876-1640 x107




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