More changes are in store near a busy eastside intersection that would continue the Memorial Drive corridor's surge of investment over the past decade.

Atlanta Leasing and Investment and Unreal Capital have partnered to purchase and renovate a retail building spanning addresses from 1191 to 1199 Memorial Drive, just east of the intersection with Moreland Avenue in Edgewood.

The property was most recently occupied by All Things Furniture and Tires, but the new owners are seeking fresh tenants for the standalone retail space.

The property is located just north of Interstate 20, about a ½ mile east of the BeltLine. Sister townhome projects Madison Park and Madison Park South are under construction to the east and west of the site, bringing more than 30 units to surrounding blocks.  

Broader context of the neighborhoods in question, with the Memorial Drive property shown at right. Atlanta Leasing & Investment/Unreal Capital

How new parking and fresh facades are planned to be implemented along the southern boundary of Edgewood. Atlanta Leasing & Investment/Unreal Capital

The building in question is being shrunk to roughly 5,500 square feet to allow for more parking spaces across its ½-acre lot, according to marketing materials.

The property is set for a makeover this year that will include landscaping upgrades, new lighting, and improvements to the building, in addition to the resurfaced and expanded parking lot.

It’s being marketed as a “rare opportunity to secure a standalone retail space” in the neighborhood, where the population has surged by 30 percent over the past decade within a one-mile radius, and the average household income now stands at $142,000, according to the investment firms.

The previous tenant, as shown while undergoing a liquidation sale in October. Google Maps

Atlanta Leasing & Investment/Unreal Capital

The traffic count is tabulated at roughly 55,000 vehicles passing by each day, which is cited, of course, as a bonus for visibility and not an impediment. The building stands “directly in the path of progress along the rapidly developing Memorial Drive and Moreland [Avenue] corridors,” goes the pitch.

According to city code, the property’s C-2 commercial zoning allows for “a broad range of sales, service, and repair activities.”

Any big ideas, ATL?

Modification plans for the Memorial Drive property. Atlanta Leasing & Investment/Unreal Capital

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