offering memorandum€¦ · this property puts you right in the heart of the city, so you can...

OFFERING MEMORANDUMCOMMERCIALLY-ZONED DUPLEX OVERLOOKING PONCE CITY MARKET

± 1,256 SF | ADEQUATE OFF-STREET PARKING

http://www.BullRealty.com/

3PROPERTY INFORMATION4EXECUTIVE SUMMARY

5PROPERTY INFORMATION

6PHOTOS

11FLOOR PLANS

16SURVEY

17AREA OVERVIEW18ABOUT THE AREA

19AREA MAP

20AREA DEVELOPMENTS

21CONTACT INFORMATION22BROKER PROFILE

23DISCLAIMER

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T A B L E O F C O N T E N T S

Bull RBull Realtyealty, Inc., Inc.50 Glenlak50 Glenlake Pe Parkwarkwaayy, Suit, Suite 600e 600AAtlantlantta, GA 30328a, GA 30328BullRBullRealtyealty.c.comom

Michael WMichael Wess, CCIMess, CCIMPPartnerartner, Bull R, Bull RealtyealtyMWMWess@[email protected] x150404-876-1640 x150

Andy LundsberAndy LundsberggPPartnerartner, Bull R, Bull RealtyealtyALundsberALundsberg@[email protected] x107404-876-1640 x107

Exclusively listed by Bull Realty, Inc.

tel:404-876-1640 x150

tel:404-876-1640 x107

http://www.BullRealty.com/

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P RP R O P E RO P E R T Y I N FT Y I N F O R M AO R M AT I O NT I O N


C H A R M I N G D U P L E X W I T H R EC H A R M I N G D U P L E X W I T H R EC E N T R E N OC E N T R E N O• 1920s converted home with zoning allowing for SFH, duplex, light retail/office

or large redevelopment• 2017 renovation converted office layout into duplex for current AirBnB use• 1,256 usable SF & large open with clean unfinished basement and attic

storage space• Three off-street parking spaces & long driveways to both Glen Iris Dr NE and

North Ave NE

U N M AU N M ATTC H E D LC H E D LO C AO C AT I O NT I O N• Catty-corner to City Winery & Dancing Goats Coffee• Across the street from Southern Dairies, Jamestown's newest purchase and

reposition project• Closest SFH/duplex to Ponce City Market (± 750' walk)• ± 600' to Fourth Ward Park and connection to Gateway Trail to heart of Atlanta

BeltLine Eastside Trail• 0.9 miles - Piedmont Park, 0.9 miles - Inman Park, 1.2 miles - Midtown, 1.2

miles - Virginia Highland, 1.4 miles - Ga Tech, 1.6 miles - Little Five Points, 1.7miles - Downtown

F U T U R E R E D E V E LF U T U R E R E D E V E LO P M E N T P OO P M E N T P OT E N T I A LT E N T I A L• Land value: future redevelopment potential when assembled with other

properties on the street. Future hotel, multifamily, or mixed-use site• Zoned MRC-3: https://bit.ly/3j8dR53 (MRC Zoning Info) & https://bit.ly/

2Zypydy (BeltLine Overlay District)

Price | $650,000 1,256 SF

E X E C U T I V E S U M M A R Y


PRPROPEROPERTYTY

Property Address: 604 Glen Iris Drive NE, Atlanta, GA 30308County: FultonBuilding Size: 1,256 SF & unfinished basementUnits: 2Site Size: 0.15 AcresZoning: MRC-3 (Beltline Overlay): https://bit.ly/2ZypydyYear Built: 1920Parking Spaces: 3 Off-streetSale Price: $650,000

AIRBNB LISAIRBNB LISTINGSTINGS LINKLINKSS

Unit 1 - 1 BR/1 BA https://bit.ly/2CiCGe5Unit 2 - 2 BR/1BA https://bit.ly/2B9ASDG

Covered porch with street view

Three off-street parking spaces + long driveways

P R O P E R T Y I N F O R M A T I O N


P H O T O S


U N I T 1


U N I T 2

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U N I T 2


C U R R E N T D U P L E X L AY O U T


P O T E N T I A L S I N G L E F A M I LY H O M E L AY O U T


P O T E N T I A L O F F I C E L AY O U T


B A S E M E N T F L O O R P L A N S ( C U R R E N T )


B A S E M E N T F L O O R P L A N S ( P O T E N T I A L )


S U R V E Y

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A R EA R E A OA O V E RV E R V I E WV I E W


* Source: https://poncecitymarket.com/

P O N C E C I T Y M A R K E TP O N C E C I T Y M A R K E TPonce City Market breathes new life into the historic Sears, Roebuck & Co. building in Atlanta. The classicstructure, which is the area’s largest adaptive reuse project, has been reinvented as a vibrant communityhub housing the Central Food Hall, various shops, flats and offices, all while pointing back to the roots ofits inception. The market infuses vigor and excitement into this historically-significant structure, located inone of Atlanta’s most cherished neighborhoods.

O L D FO L D FO U RO U RT H WT H WA R DA R DKnown for its creative heart and soul, Old Fourth Ward offers countless opportunities for artistic andpersonal inspiration. With easy access to the Beltline and close proximity to Ponce City Market, here,unique experiences are always right around the corner. This property puts you right in the heart of the city,so you can become a part of the community’s vibrant tapestry.

DEMOGRAPHICS

1 Mile1 Mile 24,85724,857

3 Miles 151,599

5 Miles 343,884POPULATION

1 Mile1 Mile 14,46714,467

3 Miles 70,874

5 Miles 152,148HOUSEHOLDS

1 Mile1 Mile $82,841$82,841

3 Miles $91,451

5 Miles $83,423AVG. HH INCOME

A B O U T T H E A R E A


A R E A M A P


S O U T H E R N DS O U T H E R N DA I R I EA I R I ESSIn 1935, Southern Dairies, Inc, an ice cream and dairy manufacturer, was the firstoccupant at the North Avenue property and is the key contributor to the historiccloth of the building. Today, Southern Dairies is a five-building creative officeconversion of the historic distribution plant. The property’s size and uniquearchitectural features offer a boutique office campus feel in a location proximateto the Atlanta BeltLine, with the same amenities as Ponce City Market.

N ON OV E L 0 4 W A PV E L 0 4 W A PA RA RT M E N TT M E N TSSNOVEL O4W is a mixed-use development that features 233 apartments atop morethan 10,000 SF of retail space. The development is less than 2 years old and hashelped breathe new life in the immediate area. The site offers the best of cityliving with top-of-the-line amenities including a yoga studio, dog park, workinglounge, saltwater pool, and a restaurant on-site.

T H E V I E WT H E V I E WS AS AT O 4 WT O 4 WOpened in 2017, “Views at O4W” contains 27 swank town home units with modernlines and rooftop decks promising Midtown and downtown vistas. And privatebackyards for frolicking pets.

Sizes range between 1,790 and 1,862 SF with up to three bedrooms (or twobedrooms plus a flex space). Prices will start in the low $600,000s, according todeveloper Foyer Urban, a local homebuilder “dedicated to building exceptionalproduct in desirable locations,” per marketing materials.

Southern Dairies

Novel 04W Apartments

The Views at O4W

A R E A D E V E L O P M E N T S

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CC O N TO N TAA CC T I N FT I N F O R M AO R M AT I O NT I O N


P RP RO F EO F ES S I O N A L BS S I O N A L BAAC KC KG RG RO U N DO U N DMichael Wess’ passion for the consultation and sale of commercial real estate began during his undergraduate studies at the Universityof Georgia. He earned a 4.0 GPA at the Terry College of Business’s real estate program, consistently ranked in the top five nationally.While there, Michael also received two other degrees in finance and international business and a minor in Spanish while participating onUGA’s rugby team and various philanthropic organizations.

Michael joined Bull Realty in 2016 and began building his brokerage practice based on integrity, superior client service, and exceptionalresults. In 2018 alone, Michael closed 23 transactions valued at over $25,000,000, which landed him #3 of 32 brokers at the firm. Since2018, he has recorded eight ‘highest price ever’ record sales. In 2019, Michael Wess and Andy Lundsberg teamed up and sold over$65,000,000 through 34 transactions combined culminating in a Partnership offer from the firm.

Michael continuously attends seminars, conferences, and classes to improve his knowledge of real estate, finance, and economics. He isa pinned designee of the prestigious Certified Commercial Investment Member (CCIM) Institute, commercial real estate’s global standardfor professional achievement and is an active member of the Atlanta Commercial Board of Realtors (ACBR).

Michael is also a ‘big brother’ in the Big Brothers Big Sisters organization. He enjoys spending time with family and friends exploring theneighborhoods in and around Atlanta.

M I C H A E L W EM I C H A E L W E S S , C C I MS S , C C I MPPartnerartner, Bull R, Bull Realtyealty404-876-1640 [email protected]

P RP RO F EO F ES S I O N A L BS S I O N A L BAAC KC KG RG RO U N DO U N DAndy Lundsberg has over 20 years of sales, marketing and commercial real estate experience. He specializes in the acquisition anddisposition of multifamily and boutique retail/office type properties throughout metro-Atlanta. Andy Lundsberg is recognized as the topproducer at Bull Realty for the last 6 years in a row with gross sales close to $200 million over the last three years, and has consistentlyachieved the Atlanta Commercial Board of Realtors Million Dollar Club designation year after year.

Prior to his career in commercial real estate, Andy worked for a national diagnostic imaging company as director of sales and marketing,Coca Cola as a business development manager and was head of on-site sales and marketing for a condominium project with a largeresidential real estate firm in Atlanta. With his expertise in the real estate industry and successful sales record, he can help youdetermine the right investment for you; whether you are looking to buy, lease or sell commercial real estate.

Andy graduated with honors from The Kelley School of Business at Indiana University where he received degrees in Marketing,Management and International Studies. He also studied and lived in Seville, Spain and is conversational in Spanish.

Organizations:National Association of Realtors-GeorgiaAtlanta Commercial Board of RealtorsYoung Council of Realtors (YCR)Million Dollar Club (2008 - Present)

A N DA N D Y LY L U N D S B E RU N D S B E R GGPPartnerartner, Bull R, Bull Realtyealty404-876-1640 [email protected]

B R O K E R P R O F I L E

tel:404-876-1640 x150

tel:404-876-1640 x107

https://www.facebook.com/Bull-Realty-Inc-420137434674657

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https://www.youtube.com/user/BullRealty

D I S C L A I M E R

Bull Realty has been retained as the exclusive listing broker to arrange the sale of the Subject Property.

This Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of theinformation that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based uponassumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospectivepurchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made available toqualified prospective purchasers.

In this Offering Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete oraccurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected toreview independently all documents.

This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute arecommendation, endorsement, suitability or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospectivepurchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.

Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions withany party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this OfferingMemorandum or making an offer on the Property unless a written agreement for the purchase of the Property has been fully executed, delivered andapproved by the Owner/Seller and any conditions to the purchaser's obligations therein have been satisfied or waived. The Owner/Seller reserves theright to move forward with an acceptable offer prior to the call for offers deadline.

This Offering Memorandum may be used only by parties approved by the Broker. The Property is privately offered, and by accepting this OfferingMemorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of aconfidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwisereproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. The terms and conditions set forth above apply to thisOffering Memorandum in its entirety and all documents, disks and other information provided in connection therewith.


offering memorandum€¦ · this property puts you right in the heart of the city, so you can...

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