Investment Overview

Marcus & Millichap is pleased to present for sale the development opportunity located at 2905 3rd Avenue SW in Atlanta, Georgia. The property covers 2.26 acres and carries RG-2 zoning, allowing for a wide range of residential product types, including townhomes, duplexes, apartments, and condominiums. It benefits from pre-existing infrastructure and utility access due to its previous use as a multi-family site. The land features level topography and has existing curb cuts, along with available connections to water, sewer, and electricity, significantly lowering predevelopment costs and the risks usually associated with raw land. With a market value of $925,000, or about $409,292 per acre, the site is priced substantially lower than the recent average for residential land sales in Atlanta, which has been over $1.1 million per acre. Additionally, the property is located within a federally designated Opportunity Zone, providing considerable tax advantages for qualified investors through a Qualified Opportunity Fund (QOF), including the deferral and potential reduction of capital gains tax liabilities. South Atlanta has quickly evolved from an overlooked neighborhood into a significant growth market, offering more affordable alternatives to Midtown and Buckhead while remaining close to downtown. The area has seen a surge in new residential construction, with developments such as townhome communities, infill housing, and mixed-use projects reshaping the landscape. A major contributor to this growth is the Pittsburgh Yards development, a 31- acre adaptive reuse and mixed-use project that integrates office space, retail, and community areas to promote entrepreneurship and job opportunities. Furthermore, the expansion of the Atlanta BeltLine Southside Trail is enhancing recreational connectivity and driving property value appreciation, while ongoing redevelopment in nearby neighborhoods like Capitol View is attracting new businesses, restaurants, and amenities.