1150 Spring StAtlanta, GA 30309

Property Details for 1150 Spring St

Year built

2021

Lot size

1.09 AC

Property size (Sq ft)

324,496 SF

Zone code

C4

Property type

Office buildings

APN

17 010700040671

APU

17010700040671

Description

This exceptional restaurant opportunity is located within Novel Midtown, a dynamic 14-story, 340-unit luxury multifamily high-rise in the heart of Midtown Atlanta. The space offers approximately 3,234 square feet of shell space, perfect for a discerning restaurateur seeking a high-visibility location. A significant advantage is the inclusion of a large patio area, ideal for outdoor dining and creating a vibrant atmosphere. The restaurant will benefit from its strategic placement within the building, adjacent to a Land of a Thousand Hills integrated residential lobby cafe, ensuring a built-in customer base. Furthermore, its proximity to a Whole Foods Market and other new commercial, office, and retail developments guarantees high foot traffic and a thriving neighborhood environment. The building boasts 829 shared parking spaces in a convenient podium, addressing a key concern for both staff and patrons. Construction of the building was completed in 2022, with the first residential move-ins occurring in the third quarter of that year, providing immediate access to a substantial resident population. This is a rare chance to establish a flagship restaurant in a rapidly growing and affluent area of Atlanta. The space is currently available as a shell, allowing for complete customization to meet the specific needs and vision of the future tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $44,620,132

  6.5%

  $41,187,812

  7%

  $38,245,828

• Comparable approach

  Method

  Valuation

  Relative Method

  $63,296,188

  Geo Method

  $63,296,188

• Alternative Use

  Use

  Valuation

  Residential

  $51,072,888

  Hospitality

  $46,782,492

  Educational

  $38,922,484

  Medical

  $40,261,088

  Retail

  $60,546,084

Location Insight

City

Atlanta

County

Fulton

State

Georgia

Latitude

33.7862

Longitude

-84.3899

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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