2978 Rainbow DrDecatur, GA 30034

  • Retail properties
  • 5,100 SF
For Sale
$750,000 View listing

Property Details for 2978 Rainbow Dr

Year built
1979
Construction
WOOD FRAME
Lot size
0.80 AC
Property size (Sq ft)
5,100 SF
Zone code
C1
Property type
Retail properties
Property subtype
Retail space
APN
15 121 02 008
APU
1512102008

Description

This exceptional investment opportunity presents a fully occupied, 5,100 square foot commercial property situated on a 0.8-acre lot in Decatur, Georgia. The property, built in 1979, boasts a strong 7.90% cap rate, making it an attractive addition to any portfolio. The building houses two thriving businesses: an executive office suite and an auto repair/tire service shop. Both tenants are established, long-term leaseholders, ensuring consistent rental income. The property's strategic location on 2978 Rainbow Drive in Dekalb County (zip code 30034) offers excellent visibility and accessibility, with convenient proximity to major interstates I-285 and I-20. Ample parking is available on the sizable lot. This turnkey investment property requires minimal management and offers a significant return on investment. The property's diverse tenant mix and strong lease agreements provide a stable and reliable income stream. The combination of a high cap rate, long-term leases, and prime location makes this a truly exceptional opportunity for discerning investors seeking a profitable and low-maintenance commercial property in a thriving market. The property is ready for immediate income generation.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,610,835
    6.5%
    $1,486,925
    7%
    $1,380,716
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,506,911
    Geo Method
    $2,506,911
  • Alternative Use

    Use
    Valuation
    Residential
    $1,254,277
    Hospitality
    $1,148,911
    Educational
    $955,880
    Medical
    $988,754
    Retail
    $1,486,925
2978 Rainbow Dr, Decatur, Georgia

Location Insight

City
Decatur
County
Dekalb
State
Georgia
Latitude
33.7101
Longitude
-84.268
CBSA code
12060
CBSA name
ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$13,999
$83,320
$218,320
$301,640
-
$208,300
$545,800
$754,100

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