384 Peachtree StAtlanta, GA 30308

Property Details for 384 Peachtree St

Year built

1927

Construction

WOOD

Lot size

0.94 AC

Property size (Sq ft)

88,892 SF

Zone code

SPI1

Property type

Office properties

Property subtype

Office buildings

APN

14 005000070565

APU

14005000070565

Description

This exceptional redevelopment opportunity presents a unique chance to acquire a distressed 88,000-square-foot hotel in the heart of Atlanta, Georgia. Located at 384 Peachtree St NE, in Fulton County, zip code 30308, this property boasts a prime location adjacent to the I-85/I-75 interchange, ensuring excellent accessibility and high visibility. The existing structure, a 12-story building constructed in 1927, currently features 160 keys. Included in the sale is a substantial 260-space parking deck, a significant asset in a bustling urban environment. This redevelopment project benefits from the availability of historic tax credits, offering substantial financial incentives. Complete architectural plans for a 160-key hotel are already in place, streamlining the development process and minimizing pre-construction delays. This is an unparalleled opportunity to capitalize on Atlanta's thriving hospitality market and transform a landmark building into a modern, profitable hotel. The property is being offered as a distressed sale, presenting a compelling investment opportunity for experienced developers. The property's central location, ample parking, and the availability of historic tax credits make this a truly exceptional investment prospect. This is a rare chance to acquire a significant asset in a prime location with a clear path to redevelopment.

• CAP approach

  CAP return

  Valuation

  6%

  $12,223,179

  6.5%

  $11,282,934

  7%

  $10,477,010

• Comparable approach

  Method

  Valuation

  Relative Method

  $17,339,274

  Geo Method

  $17,339,274

• Alternative Use

  Use

  Valuation

  Residential

  $13,990,839

  Hospitality

  $12,815,533

  Educational

  $10,662,373

  Medical

  $11,029,068

  Retail

  $16,585,914

Location Insight

City

Atlanta

County

Fulton

State

Georgia

Latitude

33.7651

Longitude

-84.3862

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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