Park Summit

2778 N Decatur Road
Decatur GA

Park Summit View1

Property Type

Multifamily
Property Size
156 Units
Available Space
Not available
Tenure
Sale
Price
Contact Broker

DescriptionClick Here To View Mapped Property

Click Here To View Mapped Property

JLL is pleased to present Park Summit (“The Property”), a 148-unit boutique garden-style apartment community built in 1991 by Post Properties. The community is located within the City of Decatur-Atlanta’s preeminent, authentic, infill neighborhood village. Park Summit differentiates itself from competitors with its unique walkability to the adjacent DeKalb Medical Complex (2,500 jobs) as well as walkability to a new Whole Foods 365, Sprouts Farmers Market, LA Fitness, and Starbucks along the quickly evolving Church Street corridor. With Decatur’s rapidly changing landscape, new Class AA properties have been recently developed to fill the underserved luxury niche which has now created a rent ceiling above Park Summit by $500. This rental disparity creates an opportunity for Park Summit through a strategic value-add initiative partnered with curb appeal enhancements. The Property can draft off the neighboring Class AA communities and become the premier value-luxury provider, achieving $150-$250 premiums while safely undercutting the newly developed competitors.


Features

OFFERING HIGHLIGHTS ? Boutique Asset Centrally Located within Decatur’s Dynamically Evolving Church Street Corridor ? Convenient Walkability to new Whole Foods 365, Sprouts Farmers Market, & on-going Church Street Renaissance ? Proximity to Prestigious Emory & Clifton Road Corridor Employment ? Downtown Decatur and DeKalb Med Center Thrive as Robust Employment Hubs ? Niche.com Ranks Decatur as #1 Great Places to Live in Georgia FINANCIAL HIGHLIGHTS ? 4.5% Effective Rent Growth from Rent Roll to Last 30 Lease ? New Class AA Construction Creates nearby $500+ rent gap and opportunity to fill “Value- Luxury” niche ? Exterior Enhancements & Amenity Modernization eliminates the existing $111 average rent gap between Like-Type Competitors ? Proven Value-Add provides $150-$250 premiums

Contact broker
David Gutting_Commercial Real Estate Broker
David Gutting

+1 404 995 2283

View profile

Josh Magaro_Commercial Real Estate Broker
Josh Magaro

+1 404 995 6569

View profile

More
Derrick Bloom_Commercial Real Estate Broker
Derrick Bloom

+1 404 995 2287

View profile

Less
*Please enter your first name! *Please enter your last name! *Please enter your phone number! *Please enter valid email address!
Contact broker
Added to Shortlist:
Loading