Rare Office Opportunity In Historic College Park
Rare Opportunity In Historic College Park
Marketing description
3285 Main St, College Park, GA 30337 is a rare opportunity to acquire a beautifully renovated historic office in the heart of Downtown College Park. Offered at $550,000, this 2,104 SF, single-story property sits on a prominent 0.26-acre corner lot. The adjacent vacant parcel at 0 Main Street can also be purchased separately, creating added flexibility for expansion, parking, or future development.
Originally built in 1912 and thoughtfully renovated in 2012, the building blends timeless character with modern functionality. Its strong curb appeal, gated and fenced exterior, and polished interior spaces—including conference rooms, private offices, reception area, waiting area, full kitchen, and storage—make it ideal for an owner-user, boutique professional office, or investor seeking a distinctive asset.
Positioned in a high-traffic area with a Walk Score of 74, the property offers excellent visibility and convenient access throughout College Park and the greater Atlanta area. Zoned C1 and rich with historic charm, this single or multi-tenant office property presents a unique chance to own a standout commercial asset with immediate usability and long-term upside.
See link below for a video walk-through of the property.
Investment highlights
- The Atlanta area's average office asking rent is $29.00/SF. Midtown has the market's highest office asking rents, at over $40/SF, and multiple brokerage representatives have talked about record-breaking asking rents in buildings in densifying urban areas like Ponce City Market, Coda, and West Midtown, securing starting rents over $60/SF full service. In January 2025, cloud computing company PagerDuty signed a seven-year lease for 6,500 SF in 2021-built Star Metals Office Buildings for $60/SF full service.
- While a handful of trophy assets have reached a new threshold, annual asking rent growth has flattened to 1.4% in Atlanta, which is still slightly above the national average of 1.0%. Many landlords are handing over significant tenant improvement allowances and free rent to stay competitive. Tenant representatives in the area see tenant improvement packages for a typical 10-year lease for an average office tower starting around $120/SF but can get up to $150/SF. Market participants say this is not a big change over last year, but the range for outliers has increased significantly. For example, some are seeing numbers upwards of $250/SF. The highest offers are in vacant but high-quality buildings with new ownership and are offered to larger tenants that can anchor the properties.
- Sublet space is weighing on many owners, and the costs are significant. The difference between average asking rents for direct space versus sublet space has reached 3285 Main St, its widest delta in the past decade, at a difference of about $8/SF, or about 25%. The Central Perimeter area has an especially large inventory of available sublet space. In April, Aon signed a sublease to occupy over 50,000 SF on the 21st and 22nd floors. The asking rent was $26/SF full service. Asking rent for direct spaces in the same building is as high as $36/SF.
- Looking ahead, office rent growth in Atlanta is forecast to be flat through 2025. Changes in office ownership along with the decreasing value of office properties, could shift rents down in the long term. In October 2024, engineering firm HNTB announced it was relocating and expanding its Atlanta offices from Downtown to Midtown. Taking three floors, engineering consulting firm HNTB will be the first tenant in 14th & Spring, delivered in 2022. This new lease only came after a change in ownership. Shorenstein purchased the property from the developer Greenstone Properties. While the sale price is unavailable, the buyer noted they “closed without any financing and plan to make a significant follow-on investment in the asset with a capital plan to enhance common areas further and expand the amenity offerings.” Shorenstein can do this because they “acquired the property at an attractive basis.” This could be a trend moving forward as owners cannot attract tenants at the rents they underwrote for; new buyers will be in a much more advantageous position for attracting new leases.
- The Master Plan 2030 for Hartsfield-Jackson Atlanta International Airport includes a proposed 6th runway, planned north of the existing 5th runway.
For more details on ATL’s Master Plan 2030, click here. Monitor ATL Operations: View the airport’s monthly and annual operations count here.
ATL Airport Master Plan & Proposed 6th Runway
Construction Timeline: Estimated to span 12 years, with environmental and FAA reviews beginning when the airport reaches 925,000 annual operations.
Potential Impact: Businesses and apartments on Sullivan Road will be affected. See the Potential Land Acquisition Area map below or view a detailed PDF version here.
Permitted Uses:
Residential Uses (2ndfloor and above only):
Residential, single-family
Residential, two-family
Residential, multi-family
Institutional/Public Uses:
Tourism and welcome centers
Parks, playgrounds, and seating and reflection areas
Public structures, including artwork and uses in accord with the intent of this district
Business Uses:
Art galleries and museums
Professional offices
Personal service establishments
Banking and financial offices
Group instruction for personal wellness
Nutritional and pre-packaged snack shops
Coffee and desert shops
Florists
Book and media stores
Drug stores
Gift and collectible shops
General retail and merchandise sales
Clothing and accessory retail sales
Bakeries, coffee, and snack shops
Restaurants and catering establishments
Specialty beer and wine sales
Graphic design and art galleries
Antique sales
Brewpub
Craft beer and wine market
Farm winery
Microbrewery
Micro distillery
Prohibited Uses:
Pawn shops and secondhand stores
Check cashing and title loan offices
Bail bonding establishments
Motor vehicle sales, repair, or storage
Adult entertainment establishments
Tattoo and piercing establishments
Palm reading and astrologers
Billiards and dart parlors
Drive through restaurants, with the exception of those restaurants utilizing at least fifty (50) percent of its space as a full-service restaurant
Modeling agencies
Staffing agencies
Boarding or rooming houses
Massage parlors
Hypnotists
Video gaming and arcade parlors
Flea markets and secondhand resale stores and dealers
Transportation terminals
Unmanned Aircraft System Dispatch and Delivery Center
Vape Shops
Listing Contacts
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Valuation Metrics
Map
Zoning
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Property History
Tax History
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Additional Information
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