1958 Monroe Drive Northeast, Atlanta, GA, 30324, US

1958 Monroe Drive NE

Asset Description

JLL is pleased to offer fee simple interest in 1958 Monroe Drive and a leasehold interest in 1946 Monroe Drive (The “Property”), a single tenant office building that will be delivered 100% vacant upon sale. Originally built in 1958, the main structure encompasses 20,984 SF. In 1962, 1946 Monroe drive was added onto the existing structure as an annex, and adds an additional 10,708 SF for a total of 31,692 SF. The main building is architecturally distinctive, being designed by Atlanta based Locatell Architects and Engineers in 1958. The current tenant has preserved and improved original architectural elements when the building was constructed – most notably the curved front staircase with minimalist, wrought iron handrails. The lobby has been fully renovated. The ground lease on 1946 Monroe Drive lasts until 2058.

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Attributes

Building area net

20,800 sf

Year built

1958

Land area gross

1.34 acres

Zoning

I-1

Media

Investment Highlights

Own a Mid-Century Modern Piece of History: The property was designed and built in 1958 in the mid-century modern style and features unique architectural elements that remain timeless – especially in a city with a shortage of distinct older buildings.

Vacant Delivery At Sale Enables a Buyer to Start Renovations Immediately: The building is being sold unencumbered by leases, which allows a buyer to begin renovations on a unique creative office project the day of closing.

Residential Development Potential: Should a buyer choose to redevelop the property, there is strong precedent in the Monroe Drive corridor to rezone to residential development and pursue townhomes.

Centralized Location: Situated halfway between Midtown & Buckhead, the Property is sandwiched between the two major live-work-play hubs of Atlanta