Memorial Drive, Stone Mountain, GA 30083

$1,990,000

This exceptional 4.75 acre development opportunity is located on Memorial Drive, a highly visible and accessible State Rout in Dekalb County, Georgia just outside of I-285. The retail business on this Property has been a multi-generation landmark in the community for 55+ years. With over 440 feet of direct frontage… Read More and two existing curb cuts, the property offers excellent accessibility for a wide range of potential development projects including APARTMENTS, TOWNHOME & MIXED USE DEVELOPMENTS. Currently zoned O&I and situated within a designated Commercial Redevelopment Corridor as well as both State and Federal Opportunity Zones. This site is already ENTITLED for multi-family housing and a variety of other commercial uses. Its strategic location and zoning overlays make it well-positioned for increased density, rezoning flexibility, and eligibility for valuable development incentives. Permitted uses under current ENTITLEMENTS include multi-family apartments, hotel/motel, nursing facility, hospital, medical office, bank, daycare center, fitness center, private schools, recreation facilities, special events facility, indoor concert or theater venue, child care institution, place of worship, cemetery or mausoleum, funeral home, vocational and specialized schools, auto brokerage, office, trade shops, catering, and more. Additionally, a wide range of uses are allowable with a Special Use Permit, including high-rise apartments, extended stay hotels or motels, senior housing, cultural facilities, crematoriums, homeless shelters, and transitional housing. There is also strong potential for residential rezoning to allow for townhomes, mixed-use communities, single-family homes, or high-density apartment development. The Commercial Redevelopment Corridor overlay allows for various zoning classifications, including RSM, MR-1, MR-2, MU-1, MU-2, MU-3, NS, C-1, C-2, OI, OD, and OIT, providing significant flexibility for developers and investors. All information, including zoning classifications and permitted uses, is deemed reliable but not guaranteed. Prospective buyers are solely responsible for verifying all data, evaluating development suitability, and confirming the accuracy of the information provided. Active operating business currently on property. Do not visit without an appointment. Read Less

Listing courtesy of Atlanta Fine Homes - Sotheby's Int'l [email protected]

Listing Snapshot

Days Online

Last Updated

Aug 29, 2025

Property Type

Unimproved Land

Lot Size

4.75 Acres

MLS Number

10580067

30 Days Snapshot Of 30083

$262k

-17%

(avg) sold price

-11%

homes sold

-37%

(avg) days on market

Snapshot

Area Map

Additional Details

Community

Street Lights, Walk To Schools, Walk To Shopping

Fence

Chain Link, Fenced

Water Features

Water body: None

Lot

Land Lot: 6, 4.75 acres, Curb, Level, Cleared

Property

Outbuilding, Unimproved Land

Taxes

Annual Amount: $19,767, Year: 2024

Utilities

Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available

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