51 Elliott Street
Atlanta, Georgia, USA
Commercial/ Residential, Investment Property
51 Elliott Street is an extraordinary Residential/Commercial property located in Atlanta’s Downtown business district. This 4000 square ft. historic building has two full floors of work live space, as well as a basement, covered parking and patio, and much more.
Situated on a 50'x90' fenced lot near the historic intersection of Centennial Park Drive and Martin Luther King Jr. Drive, in the Castleberry Hill neighborhood, the property currently houses the Elliott Street Deli and Pub.
The business is also being sold as part of the package sale offer. Having so many special features found nowhere else in Atlanta, the property is truly unique.
51 Elliott Street is perfect for the serious buyer, looking for a stable revenue opportunity as part of a positive tangible investment.
Built circa 1870, 51 Elliott Street was originally created as a carriage house to service the busy central business, city and capitol districts of Atlanta, the impressive Terminus building that was the transportation hub for the city, as well as the burgeoning Southern Railroad. Over the years the building has had other owners and functions. From the early 1950’s until 1982, 51 Elliott Street housed one of the first real estate agencies, loan and insurance Company owned by an African American business man in the city.
The building’s basement during this time was home to the legendary Jazz club "Dee's Birdcage" which hosted many notables in the music world, including Isaac Hayes, Gladys Knight, and Curtis Mayfield just to name a few.
In the 1980's a mass exodus of the city's population moved to the suburbs, and 51 Elliott Street was abandoned and fell into disrepair. By 2004 the property was a burned out, boarded up building, covered in graffiti.
Standing in front of the property in late 2004, Michael and Peter Jakob - two brothers - saw: The CNN Center, Phillip’s Arena, The Georgia Dome, The World Congress Convention campus, The Atlanta Federal Court House, and the arrayed and growing skyline of Atlanta's downtown businesses and hotels - all within walking distance from the front door of this storied old building, on a forgotten street, right in front of everything.
Having operated their own, nationally successful General Contracting and building business for 14 years ("Jakob Brothers Construction"), they knew what to look for in a building and this was it; solid. After making it to the roof and seeing the stunning view of the “Capitol of the South”, it was obvious this was the spot.
The complete renovation of 51 Elliott Street was literally done by the Jakob Brothers themselves, from wall-to-wall; from the basement floor to the tar on the rooftop. This modern restoration has taken 51 Elliott Street from history, into the 21st century.
In the two-story residence, the two master bedroom suites, two and a half bathrooms, and a large modern kitchen/dining/living room are perfect for entertaining. There is also a half-kitchen in one of the suites, as well as a living room offering great views of the city. This space was purposefully built to be split into separate apartments, or offices - each with separate entrances and bathrooms - if desired.
The notable `Elliott Street Deli and Pub', contains an enclosed patio and a full basement which were built using salvaged material from the original building - giving it an atmosphere not found anywhere else in Atlanta. The small sandwich station is perfect for high volume - with 100+orders and specialized catering easily handled by one person. The covered patio has a wood stove, and can comfortably sit twenty people, even more with sidewalk seating. Currently, the basement - which has dual entrance access from the pub above and the outside itself - houses an active, live-music venue called "The 51". The "plug-and-play" destination - with stage, lighting, sound board, PA, as well as a separate downstairs bar, dressing room, and acoustics which carry the spirit of legends - make this a coveted gig for bands and music lovers alike.
In addition to almost nightly live music, (which often during nice weather also brings performances outside) "The 51" is a multifunctional room hosting events ranging from gallery exhibits, photography shooting location, community organization meetings, slam poetry readings, CD release parties, after hours jazz and much more.
Included in the property package is a 2500 square-foot fenced in and partially-covered, concrete parking lot, with two large carports and storage, with separate entrance to the buildings residential, private spaces. The parking area is also used for holding large scale outdoor events hosting hundreds of people, such as the `Iron Pour' (a distinguished event created by ESP in partnership with Georgia State University), takes place as part of Castleberry Hill's monthly neighborhood `Art Stroll', showcasing Atlanta’s premier art district, which the property is a part of.
The building is located in Downtown Atlanta, in the heart of the Art District, Castleberry Hill. This lofty neighborhood has been called the So-Ho of Atlanta, with its many Galleries, Lofts, live-work spaces, restaurants, and the monthly `Art Stroll' held every second Friday of the month. It is within blocks of the busiest social and entertainment area of the City. With its close proximity to all of this, this property is classified as an "A" level location.
Just outside our door, city and federal architects have just finished building a new `high-volume' bridge (an over 4-year long construction project) that will again connect the property to the Federal District of Atlanta (the Richard B. Russell Federal Court of Appeals, the Sam Nunn government building, and the newly renovated )MLK Federal Building which employs over 2000 people during the day.
Additionally, the new `MultiModal Passenger Terminal' is proposed to be built directly across from the property. This will be Atlanta's major combined, central transportation station for Marta, Amtrak, Bus Service, Light Rail, and proposed Speed Train - bringing thousands of people to your doorstep every day, with a proposed start date of 2015.
With the rare and desirable 1800’s building on the exterior, and the fine and meticulous "Jakob Brothers" craftsmanship on the interior - this building is expected to be standing centuries from now, with more historical tales ahead of it left to tell.
While there is no need to change a thing, there is room for expansion and growth.
For instance the patio could be closed to become a large commercial kitchen; or the bar could be expanded to accommodate scores more people by removing the back wall (this would use a portion of the living space). A deck big enough for hundreds could be built inside the adjacent lot; or, the residential space could be used as a revenue source in as many ways as you can think of.
But wait, there’s more….
BONUS: The original renovation plan as already-APPROVED by the city, contains a full THIRD FLOOR expansion for 51 Elliott Street. All of the material for the addition are in storage, on the premises, waiting to be assembled. After completion this third floor apartment space would allow the owner a spectacular 360-degree view of the city. The building could also be built on the existing concrete carport pad, allowing for another store front or to expand the current business.
This exceptional property began as a burned-out, abandoned building - and was bought as such, by two brothers in 2004. After an almost million-dollar complete rebuild and renovation which left nothing but the brick walls of this turn of the century building remaining, a notable neighborhood watering hole was created and a legend was continued.
Now, 7 years later, established and thriving, this Pub is a staple on the Atlanta food, music, art, nightlife and just `cool-place to hang out' scene.
With a reputation for the `Best Sandwich in the City' and a place to hear some of the most talented musicians in the South, this well known business is `set up for success' with a slate of continuous events on the upcoming calendar over the next year. All within walking distance from the Georgia Dome, the World Congress Center, Olympic Park, CNN Center, the Underground, Auburn Avenue and beyond.
Chick-Fi-Let College Football Kick-off and Bowl, Atlanta Falcons full 2013-2014 season, Atlanta Hawks 2013-2014 season, FLUX (major art event held every year), March Madness, the Final 4 College Basketball Weekend being held in Atlanta in 2013, New Year's Eve in walking distance - and much, much more!
This is a unique "Turn Key", set-up for success operation with the opportunity to expand and grow as the city around you grows. You can `Live and Work' with no commute, in a walkable, livable neighborhood in one of the most historic neighborhoods in the country - and keep an eye on your business with just a walk down a set of stairs. The owners will help with your transition period and want nothing else than your success and what they built to last for generations.
Watch your business succeed along with your property investment by just looking out the front window of your loft, in this "All in One ", "One of a Kind" property opportunity.
The owners always say they are "living the dream"! Are you ready to live yours?