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SoNo Redevelopment Site with Income | Midtown Atlanta | ± 1.22 Acres

Atlanta, GA

Bull Realty is pleased to exclusively present the opportunity to acquire this 1.22-acre infill redevelopment site. Located in the SoNo district in Midtown Atlanta, this area is emerging as one of the fastest growing areas in Atlanta. This property is walking distance to Marta and two blocks east of Emory Medical. This area has seen unprecedented growth as the demand (especially for multifamily) development continues to rise in SoNo. Local zoning code, Special Public Interest (SPA-1; SA-3), allows for this site to be improved with a 25-level building which includes 8 levels of parking. A density study shows if the site is assembled, a mixed-use development containing 465 multifamily units should be permitted. The permitted uses include multifamily, hotel, student housing, office and retail. Developers are further attracted to this district because of the property tax breaks which have been granted by the City to off-set record high land prices. Development profits are also enhanced by the property being located within Atlanta’s Community Improvement District (CID) and the Downtown Tax Allocation District (TAD) which provide additional financial incentives. This property has an income component providing contributory value while developers work through the design and permitting process. The existing improvement consists of a 169-room (plus 1 manager's room apartment) Budgetel Inn & Suites. During the renovation process, this extended stay hotel grossed over $2 million dollars in 2019. If sold to a developer, the Seller is willing to leaseback the Property and will pay the new owner $480,000 for each of the next three years. This property is being marketed for sale at an unpriced amount. Seller reserves the right to accept an offer earlier, the top bidders will be invited back to a best and final round in July of 2020. Please reach out to Will Young or Perry Hayes at Bull Realty, Inc. if you would like to submit an offer or discuss this opportunity.

52,776 SF

  • Office
  • Retail
  • Multifamily
  • Limited Service

Email Will Young or Perry Hayes for more information
SOLD | Holiday Inn

Atlanta, GA

For information regarding this sale or other sold properties and market intel call 404-876-1640 or email info@BullRealty.com.

61,320 SF

  • Limited Service

Email Michael Bull, CCIM or call 404-876-1640 x 101 for more information
SOLD | Quality Inn - Sumter, South Carolina | 124 Keys | 2.75x

Sumter, SC

For information regarding this sale or other sold properties and market intel call 404-876-1640 or email info@BullRealty.com.

68,000 SF

  • Limited Service

Email Michael Bull, CCIM, Tom French, or Cole Spain for more information
SOLD | Country Inn & Suites in Shreveport, Louisiana

Shreveport, LA

For information regarding this sale or other sold properties and market intel call 404-876-1640 or email info@BullRealty.com.

45,500 SF

  • Extended Stay

Email Tom French or Cole Spain for more information
SOLD | Peery Hotel Restaurant | 73 Keys | Salt Lake City, Utah

Salt Lake City, UT

For information regarding this sale or other sold properties and market intel call 404-876-1640 or email info@BullRealty.com.

58,220 SF

  • Full Service

Email Cole Spain or Tom French for more information