2950 Old Alabama RdAlpharetta, GA 30022

Property Details for 2950 Old Alabama Rd

Year built

1998

Lot size

3.43 AC

Property size (Sq ft)

57,110 SF

Zone code

OIC

Property type

Assisted living facilities

Property subtype

Retirement homes

APN

12 303008410824

APU

12303008410824

Description

This ±6.39-acre site in Alpharetta, Georgia, presents a unique redevelopment opportunity. Currently occupied by an assisted living facility, the property is zoned OI and ideally positioned for a luxury residential subdivision, aligning with the Johns Creek future land use plan designating it as Commercial/Multifamily. Located at 2950 Old Alabama Rd, 30022, this Fulton County property boasts convenient access to major thoroughfares like Holcomb Bridge Road and GA State Route 400. The area offers exceptional amenities, including proximity to high-quality shopping, dining, and hotels. Residents will enjoy nearby parks such as the Roswell Greenway and Big Creek Park (less than 2.5 miles away). The site benefits from its location within highly sought-after neighborhoods and is surrounded by excellent schools, including Mount Pisgah Christian School, Centennial High School, Haynes Bridge Middle School, and Northwood Elementary. The affluent community boasts a high average household income, exceeding $186,000 within a 3-mile radius and $170,000 within a 5-mile radius. This prime location makes it an attractive investment for developers seeking to capitalize on the area's strong demographics and desirable lifestyle. The property's size and location offer significant potential for a high-value development project.

• CAP approach

  CAP return

  Valuation

  6%

  $12,954,300

  6.5%

  $11,957,800

  7%

  $11,103,700

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,197,520

  Geo Method

  $3,610,570

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $22,766,800

  Retail / Commercial

  $11,702,400

  Mixed-Use / Specialty

  $11,682,500

  Hospitality / Lodging

  $8,599,500

  Office

  $11,635,800

  Institutional / Educational

  $12,152,900

  Residential Income

  $14,218,900

  Multifamily

  $16,932,400

  Automotive / Energy

  $10,416,800

  Parking / Income-Based Land

  $3,573,140

  Restaurant / Food Service

  $6,122,750

Location Insight

City

Alpharetta

County

Fulton

State

Georgia

Latitude

34.0223

Longitude

-84.2737

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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