Adaptive Re-Use Development Opportunity | ± 246,000 Existing SF | ± 3.25 Acres

450 Capitol Ave SE, Atlanta, GA 30312

Located near Downtown AtlantaBull Realty is pleased to offer for sale 450 Capitol Ave SE (also referred to as 450 Hank Aaron Drive) in Atlanta, GA 30312. The property consists of ± 246,000 SF of existing improvements on approximately 3.25 acres. The property fronts both Capitol Ave and Fulton Street, and is adjacent to I-20 with incredible unobstructed skyline views of Downtown Atlanta. The site is just a half mile walk from GA State University’s main campus and the Georgia State Capital, and it is located at the 1996 Olympic arches, directly across the street from GA State’s brand new $85M Convocation Center. It is also a block from the former Brave’s Turner Field, which is now GA State’s football stadium. There is approximately $1B in investment either under construction or planned in the immediate area, including a brand-new Publix development within a stone’s throw from the property and several new popular restaurants and shops within walking distance (Georgia Avenue). The property was most recently home to a 406-room hotel and banquet facility and has just been completely gutted to its original concrete shell. Under the existing zoning, the property is fully approved and permitted for multifamily conversion with 260 apartment units and 33,000 SF of retail. In addition, the site has up to ± 773,000 SF of remaining FAR under the existing entitlements, or up to ± 915,000 SF of remaining FAR assuming certain bonus requirements are met. Given its proximity to GA State University and Downtown Atlanta and considering all of the new developments in the immediate area, the site is ideal for multiple adaptive reuses including multifamily, student housing, hotel and mixed-use.

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Attachments

Highlights

  • Total of ± 246,000 existing SF with parking deck/garage on ± 3.25 acres
  • Zoned MRC-3C
  • Building is currently gutted (concrete shell) with 98% of asbestos remediated (was a 406-room hotel with conference/banquet space and outdoor pool)
  • Permitted and approved for a 260-unit apartment conversion, with 33,000 SF of retail | Seller has all architectural plans and 3rd party reports available
  • Seller also has plans for 287 units with 23,000 SF of retail (no permits or approvals)
  • Site has up to ± 773,000 SF of remaining FAR under the existing entitlements | Up to ± 915,000 SF of FAR with bonuses
  • 400 existing parking spaces (mix of surface and covered)
  • Located within walking distance of Downtown Atlanta, Georgia State University and the recently redeveloped Georgia Avenue in the popular Summerhill neighborhood
  • Surrounded by the most vibrant and desirable neighborhoods in the metro area, including Grant Park, Cabbagetown and Downtown Atlanta | Easy access to I-85 and I-20

Contacts

broker

Andy Lundsberg

Bull Realty

(404) 876-1640

Location

Getting Around

  • Walk Score ®

    55/100 Somewhat Walkable

  • Transit Score ®

    62/100 Good Transit

  • Bike Score ®

    53/100 Bikeable
Powered by Walk Score ®
  • City Atlanta, GA
  • Neighborhood Summerhill
  • Zip Code 30312
  • Market Atlanta

Points of Interest

  • Georgia State

    0.54 miles

  • Garnett

    0.64 miles

  • Five Points

    0.82 miles

  • Hurt Park

    0.84 miles

  • King Memorial

    0.86 miles

  • Park Place

    0.88 miles

  • Sweet Auburn Market

    0.93 miles

  • Woodruff Park

    0.94 miles

  • Auburn at Piedmont

    0.96 miles

  • Dobbs Plaza

    1.03 miles

  • Shell

    0.47 miles

  • Texaco

    0.50 miles

  • BP

    0.55 miles

  • BP

    0.60 miles

  • Shell

    0.93 miles

  • RaceTrac

    1.06 miles

  • Texaco

    1.11 miles

  • Exxon

    1.11 miles

  • Chevron

    1.19 miles

  • Exxon

    1.21 miles

  • Blue Lot

    0.10 miles

  • Green Lot

    0.23 miles

  • IBEW parking lot

    0.32 miles

  • Government Center Parking Deck

    0.43 miles

  • APS Parking Deck

    0.50 miles

  • Pete Hackney Deck

    0.55 miles

  • LAZ Parking Deck

    0.56 miles

  • City of Atlanta Public Safety - Parking Structure

    0.57 miles

  • Turner Field - Media Lot

    0.62 miles

  • K Deck

    0.63 miles

  • Four Points by Sheraton Atlanta Downtown

    0.57 miles

  • Country Inn & Suites

    0.63 miles

  • Grant Park Hotel

    0.69 miles

  • Fairfield Inn & Suites Atlanta Downtown

    0.75 miles

  • The Candler Hotel Atlanta, Curio Collection by Hilton

    1.00 miles

  • Clarion Inn & Suites Atlanta Downtown

    1.02 miles

  • Residence Inn Atlanta Downtown

    1.02 miles

  • Home2 Suites

    1.02 miles

  • REVERB by Hard Rock

    1.03 miles

  • E Hotel Downtown

    1.03 miles

  • Hot Dog Pete's

    0.40 miles

  • Maepole Atlanta

    0.41 miles

  • The STATEhouse Grill

    0.45 miles

  • Subway

    0.49 miles

  • Bullpen Rib House

    0.58 miles

  • Daddy D'z

    0.58 miles

  • Willy's Mexicana Grill

    0.61 miles

  • Fred's Country Kitchen

    0.62 miles

  • Jamrock

    0.68 miles

  • Kelz Kitchen & Speakeasy Lounge

    0.69 miles

  • Martin Luther King Junior Middle School

    0.46 miles

  • Wesley International Academy

    0.46 miles

  • Smith-Hughes Vocational School

    0.50 miles

  • Urban Explorers Prescool

    0.59 miles

  • Georgia Avenue School

    0.63 miles

  • Key School

    0.69 miles

  • Historic Angiers Academy & Holland Free School

    0.70 miles

  • Georgia State University

    0.72 miles

  • Dunbar Elementary School

    0.79 miles

  • Herzing University, Atlanta

    0.82 miles

  • Carol's Daughter Learning Center

    0.52 miles

  • Primrose School

    0.98 miles

  • Freedom Park Preschool

    2.72 miles

  • Atlanta Montessori International School

    2.82 miles

  • The Children's Campus @ Georgia Tech

    2.84 miles

  • YWCA

    3.29 miles

  • Paly 2 Grow

    4.96 miles

  • The Clifton School

    5.73 miles

  • Decatur Presbyterian Children's Community

    5.76 miles

  • Montessori Academy

    6.32 miles

Frequently Asked Questions

What is the total square footage of Adaptive Re-Use Development Opportunity | ± 246,000 Existing SF | ± 3.25 Acres?

Adaptive Re-Use Development Opportunity | ± 246,000 Existing SF | ± 3.25 Acres totals 246,000 square feet.

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Contact Listing Broker

broker

Andy Lundsberg

Bull Realty

(404) 876-1640