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Multifamily Conversion Opportunity | Potential 152 Units | Decatur, GA

4200 Wesley Club Drive
Decatur, GA 30034
PRICE : $7,000,000
PROPERTY TYPE: Multifamily
SITE SIZE: 2.80 Acres
UNITS: 152
YEAR BUILT: 1973

Highlights

  • 146-room hotel that has the potential to be converted into multifamily
  • Potential for 152 studio units
  • Situated on a ±2.8-acre site
  • Prime visibility from I-20
  • Zoned C-1, I-20 Overlay District
  • Includes a freestanding ±3,778 SF restaurant building
  • Includes pylon signage that is visible from I-20
  • 195 on-site parking spaces

Description

The property is currently a 146-room hotel that has the potential to be converted to 152 multifamily units (assuming all studios). The main hotel building consists of ±49,347 SF. There is also a ±3,778 SF outparcel building that was once a full-service restaurant and has most recently been used for events. If converted to apartments, the smaller building would make an ideal leasing office, shared laundry facility and/or amenity space.

If utilized as 152 unit use, there will be an additional change of use requirement by the city such as sprinkler, impact fee for change of use, sewer capacity evaluation, new fire alarm system etc.

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