489-495 Peachtree Street & 496 Courtland Street, Atlanta, GA

Land for Sale ‐ $5,800,000 ‐ 1 acres

Bull Realty, Inc.

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Agent Info

NameMichael Bull, CCIM
CompanyBull Realty, Inc.

Property Info

CIMLS #930028
Location489-495 Peachtree Street & 496 Courtland Street
Atlanta GA 30308
Last UpdatedMay 3rd, 2017
TypeLand
Price$5,800,000
Lot Size1 acres

Contact


Property 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.

Location Description:

The property is located on across from Emory University Hospital Midtown on Peachtree and Courtland Street. Two popular businesses next to the property are Shakespeare Tavern Playhouse and the famous Gladys Knight's Signature Chicken & Waffles.

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

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