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560 Dutch Valley Rd NE
Atlanta, GA 30324 Piedmont Park

$1,200,000 USD

Apartments Condo For Sale  •  3,794 SF

Property Details

  • Property Type Apartments
  • Total Building Size 78,000 SF
  • Lot Size 2.1 AC
  • Building Class B
  • Year Built 2001
  • Cap Rate 8.01 %
  • Tenancy Multiple
  • Zoning PD - MU
36 Transit Score
75 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit 100 Office/Retail 3,794 SF $1,200,000 USD
  • Unit Size: 3,794 SF
  • Condo Use: Office/Retail
  • Price: $1,200,000 USD
  • Sale Type: Investment or Owner User
  • Price/SF: $316.29 USD
Description
Turn-key restaurant space leased through March 2027. Ideal for investor or owner-user that will cashflow while planning a new concept. Suite 100 is the ground-floor of the Belvedere Condos and comprises all of the commercial square footage of the building. The zoning allows for a wide variety of commercial uses, allowing for this space to transform into office, medical or special use if desired. 

The space is beautifully designed with seating for 100 in the main dining area, 25-person private room, 50 seat patio, and separate bar area with seating for 12.  The restaurant build-out received high-end renovations in 2023, including new kitchen equipment, fixtures and bar. Two new 15-ton RTU’s were installed within the past 4 years, offering energy efficient HVAC with 15+ year lifespan.

A gate from the outdoor patio leads directly to the Atlanta Beltline path, where it connects into Piedmont Park and the Atlanta Botanical Garden. Just 1,000 linear feet to the south along the Beltline, Portman Holdings is redeveloping Amsterdam Walk into a 1.2M sq ft mixed-use project including retail, commercial and over 1,000 apartments. Just 2,000 linear feet to the north along the Beltline is Ansley Mall with numerous retailers including Publix, LA Fitness and CVS.

A dedicated 30-space surface parking lot is adjacent to suite 100, a rare amenity in midtown, which serves the commercial space exclusively. This allows for dedicated parking at all times of the day. The current tenant utilizes valet to accommodate the heavier weekend crowds, while also utilizing a rideshare drop zone.

Sale Notes
The property is leased on a modified gross basis with increases over base year for taxes and insurance. Equivalent net rent is well below market rent at a rate of roughly $22 psf NNN.

Investors will benefit from a "mark to market" leasing strategy, with typical Beltline fronting commercial space achieving rents from $35-$85 psf.

The space is comprised of GLA including 3,548 sf primary; 146 sf detached office; 636 sf storage mezzanine; 965 sf outdoor patio.

Buyer broker commission 4%

Description 

Built in 2001, the Belvedere Building is a mixed-use community of high end-condominiums located along the Atlanta Beltline at Piedmont Park between Midtown, Virginia-Highland, Ansley Park and Morningside neighborhoods. The ground floor of the building is commercial space with a separate and dedicated surface parking lot serving the commercial. The upper floors of the building are residential condos with owners parking in a gate-secured garage.

Highlights

Prime location along the Eastside trail of the Atlanta Beltline
Rare, 30-space dedicated surface parking lot for the subject property
Pristine and efficient kitchen
Direct access through gate to access Beltline trail

Financial Summary

Cap Rate: 8.01 %
Total Expenses: $0 USD

Major Tenants

Tenant SF Occupied Lease End Date
Askbroker
Catspaw Productions

Public Transportation

Commuter RailDriveWalkDistance
8 min - 2.3 mi
AirportDriveWalkDistance
Hartsfield - Jackson Atlanta International 23 min - 12.8 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 35
Type: Surface
Included in Rent: Yes
Mark Lindenbaum 404-649-6924 Foundry Commercial
Mark Lindenbaum 404-649-6924 Foundry Commercial