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Prime Redevelopment, Owner Occupant or Investment Opportunity

489-495 Peachtree Street & 496 Courtland Street
Atlanta, GA 30308
PRICE : $5,800,000
PRICE PER ACRE: $5,800,000
PROPERTY TYPE: Land
SITE SIZE: 1.00 Acres

Highlights

  • Redevelopment, owner-user or investment opportunity
  • Excellent location between Midtown and downtown Atlanta
  • 1 acre site with 3 buildings totaling 49,000 SF
  • 6 parcels
  • SPI-1 zoning
  • Current buildings are 60% occupied

Description

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 various development opportunities including apartments, office, medical, to name just a few. Additional parcels can be made available to increase the size of the site.

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 buildings 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% occupied 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.

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