2983 Rainbow Dr - Apartments FOR SALE


Decatur, GA 30034- Panthersville
$3,700,000 USD
678-549-7105
2983 Rainbow Dr, Decatur, GA for Sale
$3,700,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

2983 Rainbow Dr
Decatur, GA 30034
Panthersville


OVERVIEW

Platinum Access, LLC is proud to present a prime development opportunity located at 2983 Rainbow Drive in Decatur, GA. This strategically positioned property is zoned C-1 Commercial and lies within both the I-20 Overlay District and a Designated Enterprise Zone, offering a robust package of tax incentives and favorable regulatory support for developers. Project Highlights This LIHTC-approved site is ideally suited for a 71-unit Mixed-Use Housing & Office Development, designed to meet the growing demand for affordable and workforce housing while incorporating community-serving office space. • Proposed Development Features: • 33 Studio Units • 26 One-Bedroom Units • 12 Two-Bedroom Units • 8 Professional Office Suites • Two-Level Underground Parking with 81 Spaces • All Utilities Available • Located in the SBA HUBZone and along the ART Transit Corridor Incentives & Designations • Enterprise Zone Program – Offers potential exemptions from county and state ad valorem property taxes for qualifying uses. • I-20 Overlay District – Provides additional development flexibility. • HUBZone Location – May qualify for federal contracting advantages. • Transit-Oriented Site – Close proximity to public transportation. Next Steps for Developers and Investors If you’re conducting due diligence or require formal confirmation of site benefits: • Access the Enterprise GIS and Overlay District maps via DeKalb County’s Planning & Sustainability GIS portal • Contact the Office of Economic Development at 404-687-2730 for eligibility and tax exemption verification

FOR SALE DETAILS

PRICE

$3,700,000 USD

PRICE/SF

$62 USD /SF

# OF UNITS

74

PRICE/UNIT

$50,000

CAP RATE

Request Cap Rate

% LEASED

-

STATUS

Proposed

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Proposed 71-Unit Housing / Office Development

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

7

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.74 AC

LAND SF

75,794 SF

ZONING

C1

APN/PARCEL ID

15-121-03-015

ASK ABOUT THIS PROPERTY

Yolanda RollePlatinum AccessMore Info
678-549-7105

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Yolanda RollePlatinum AccessMore Info
678-549-7105

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.