High Rise Development Site Downtown Atlanta | Hotel | Mixed-Use | Multifamily | Covered Land Play | 6% Cap Rate
314 Luckie Street Northwest
Atlanta, GA 30313
FOR SALE
Property Type:
Multifamily LandAmount:
$12,500,000
Last Verified:
Jan 03, 2025Daily Email Blast
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Highlights
- Ingress/egress at 314 Luckie St, 350 Marietta St & 290 Simpson St
- Three street frontages totaling 335 SF
- Walk Score - Very Walkable (86)
- Transit Score - Excellent Transit (75)
- Zoning SPI-1 Subarea 5
- Possibly develop up to 683,597 SF residential
- Possibly develop up to 514,929 SF commercial
Description
Opportunity to acquire a prime downtown Atlanta development site across the street from the Georgia Aquarium within a few blocks of State Farm Arena, the Georgia World Congress Center, Mercedes Benz Stadium, the World of Coke and Centennial Olympic Park.
The site is zoned SPI-1 SA5 calling for dense development for various uses including hotel, multifamily, retail or mixed-use. One possible plan can be seen on page 13 to build 200 apartment units on 18 floors with 10,500 SF of retail and 240 parking spaces.
The site is currently used as a parking lot, producing an average NOI of $750,000 annually. This use can be continued to hold for future development.
Atlanta, GA
Lot Size: 0.84 acres
