Prime (but little) Midtown parcel on chopping block. Any big ideas?

Our latest installment of “What Should Go Here?” takes us to a cosmopolitan but quiet part of Atlanta, tucked just off the city’s signature street.

Here we find a property that’s small in stature but high in locational perks, between Peachtree Street and what’s being marketed as “the gateway to the prestigious Ansley Park.”

The .11-acre lot, which includes a stately 1914 home structure today, came to market earlier this month with Compass, asking $1.98 million.

Sellers describe 56 17th St. as a high-profile and “exceptional redevelopment site” where buildable acreage has become scarce. Possibilities for redevelopment include townhomes, boutique condos, a mixed-use build, or single-family uses, according to Compass.

How the .11-acre property at 56 17th St. (bottom left) slots into Midtown's high-rise landscape today. Compass/Georgia MLS

State of the current residential structure on the 17th Street property. Compass/Georgia MLS

High-rise residential projects that have sprouted in the immediate area in recent years—albeit on considerably larger parcels—include Loria Ansley and the deluxe Nomia tower.

Proximity to MARTA rail, the High Museum of Art, Colony Square, Woodruff Arts Center, the Beltline corridor, and major interstates are cited as perks for potential residents or commercial tenants.

“As Midtown continues to grow as a premier destination for technology, arts, and urban living,” reads the spiel, “this site offers an unparalleled opportunity to invest in one of the city's most dynamic and connected neighborhoods.”

Compass/Georgia MLS