Prime Midtown Retail Investment Opportunity | 602 SF | 6.3% Cap Rate

620 Peachtree Street NE Atlanta, GA 30308

620 Peachtree Street NE, Atlanta, GA, 30308
620 Peachtree Street NE, Atlanta, GA, 30308
FOR SALE
Property Type:
Community Center
Amount:
$425,000
Last Verified:
Mar 12, 2020

Highlights

  • Mezzanine-level, 602 SF laundry room for sale
  • 240,550 SF, 19-story, mixed-use tower
  • Built in 1965 and renovated in 2020
  • Corner of "Main and Main" Midtown location
  • Amenities include: parking, concierge, fitness center, pool, business office, large meeting space and on-site management
  • Multi-level deck with free guest parking available
  • Located in the heart of Midtown
  • Convenient to North Avenue Marta and Tech Square
  • Surrounded by Fox Theatre, Bank of America Plaza, Emory Proton Center, Emory University Midtown Hospital and Downtown Atlanta
  • For more information or a property tour, contact broker

Description

Bull Realty is pleased to present this mezzanine-level, affordable investment opportunity, conveniently located at the corner of Peachtree Street and North Avenue in Midtown Atlanta. The 602 SF commercial laundry serves 263 residents within this 240,550 SF, 19-story, mixed-use tower. The residential condominium units make up floors 3-19, the lower and second floors are comprised of office and retail users. As residential units are without laundry hook-ups, the laundry facility serves the entire building, ensuring continuing operations and demand.

Renovated in 2020 with upgrades that include complete lobby renovations and other ongoing projects to enhance and improve building systems. Condo ownership includes access to building amenities such as: multi-level gated parking, concierge, laundry room, fitness center, pool with large indoor meeting space, business office and on-site property management.

Walking distance to a myriad of shopping, dining, entertainment and housing options. Situated in the heart of Midtown Atlanta's business district at the corner of Peachtree Street and North Avenue, directly across from the Bank of America Financial Center, 620 Peachtree Street provides an ideal intown location.

Within ½ mile of: North Avenue MARTA transit station, Fox Theatre, Georgian Terrace, Staybridge Suites, The Biltmore, Publix Super Market, US Post Office.

Within 1 mile of: Downtown Atlanta, Interstate 75 / 85, Old Fourth Ward, Ponce City Market, Georgia Institute of Technology, Renaissance Atlanta Midtown Hotel, Hilton Garden Inn, Hyatt Atlanta Midtown, Loews Atlanta Hotel.


Year Built: 1965
Building Size: 240550.0sq ft
Building Class: B
Lot Size: 0.0 acres

Map of 620 Peachtree Street NE, Atlanta, GA, 30308

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.