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500 Thrasher Street

500 Thrasher Street, Norcross, GA 30071
Property in Gwinnett
Sold Jun 01, 2021
$80,750,000
$52,650,000 by Metlife Real Estate Lending
Mortgage Due Jan 01, 2026
Sold Dec 19, 2019
$3,280,000
500 Thrasher Street in Norcross, GA was first built in 2020 and is 4 years old. This has been categorized as a residential property type. There are a total of 4 floors. 500 Thrasher Street has 235,536 sqft of living area. This is typically the area of a building that is heated or air conditioned and does not include the garage, porch or basement square footage. In total, the area measurement of the land is 233,917 square feet.

Learn more about the property and building on this page. The building type has been coded as 1. The code stands for buildings that have fireproofed structural steel frames carrying all wall, floor and roof loads. The walls, floors and roof structures are built of non-combustible materials.. There is a open porch. For those who love swimming as a form of exercise, you'll be excited to find out that there is a pool on the property. Water for the property is sourced from a water system. The property is connected to a sewer system. Fun fact, did you know that buildings can move due to weather changes? That's why, the type of control joints used in the construction of your home is extremely important. Based on our data, we know that the home was built with wood control joints. The condition of the building has been evaluated as average. Walk into the home itself and you'll find that it is currently being cooled with no air conditioning. As for heating, the home is utilizing gas. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 500 Thrasher Street sold most recently in Jun 1, 2021 for a total of $80,750,000. If you work out the math, that's approximately a cost of $342.84 per sqft. Before that, the property was also sold for $3,280,000 in Dec 19, 2019. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $854,127 in taxes each year. 500 Thrasher Street was most recently assessed in 2023. During this assessment, the property's total value was estimated to be about $26,608,320. If we break it down further, the land itself was valued at $2,152,040. Improvements to the property, however, were assessed at a total of $24,456,280. Homeowners who care about taxes, will be happy to see that the property's total assessed value has been marked as less than the total market value. Speaking of costs, many buyers and sellers often forget to take into consideration the closing costs they may occur. Closing costs can stem from anything mortgage or property related to fees related to your property title. As you'll soon learn from our guide, fees can quickly add up hence why as a rule of thumb, we typically recommend setting aside at least 5% of the purchase price to cover potential closing costs. Don't worry, any additional you save up can always go towards your principal. Better safe than sorry!Sadly, this property is not available for sale but we are constantly updating our inventory in real time. Sign up for a RealtyHop account and add this property to your favorites to get updates on when this property is back on the market. Or alternatively, you can check back frequently for updates.

This property description is generated based on publicly available data.

Building Info

Overview

    General

  • Year Built: 2020
  • Effective Year Built: 2020
  • Building Count: 4
  • Bedroom Count: 0
  • Building Condition: Average
  • Construction Type: Wood
  • Floor Count: 4
  • Living Units: 348
  • Basement Type: Unspecified basement
  • Basement Area: 5,992
  • Parking Space Count: 0
  • Porch Type: Open porch
  • Pool Type: Pool

    Dimensions

  • Lot Size Square Feet: 233,917
  • Total Building Area: 235,536
  • Gross Building Area: 5,830
  • Building Area: 235,536
  • Building Area Measurement: Living Area

    Heating and Cooling

  • Air Conditioning: No air conditioning
  • Heating: unknown
  • Heated Square Feet: 235,536
  • Heating Fuel Type: Gas

    Utilities

  • Sewer System: Yes
  • Water Service: Yes

Building

  • Building Type: Fireproof structural steel frames/Non-combustible materials
  • Property Class: Residential
  • Subdivision: NORCROSS DOWNTOWN LLC
  • Land Acres: 5.37
  • Standard Land Use Code: Apartments (generic)
  • Legal Description 1: THRASHER ST - ROCKTENN

Ownership

  • Current Owner : DEDICATED JUNCTION LP
  • Previous Owner : CRP AR NORCROSS OWNER LLC
  • Owner Before Previous Owner: CRP AR NORCROSS OWNER LLC
  • Ownership Rights Codes: Partnership
  • Current Owner Is a Corporation Indicator: Yes

Neighborhood

  • School District Name: Gwinnett County School District
  • Census Tract: 050311

Zoning

  • Zoning: AA030

Geography

  • District: 9
  • Parcel: 6-243 -089
  • Municipality: NORCROSS
  • Latitude: 33.9372
  • Longitude: -84.2195

    Address

  • Full Address: 500 Thrasher St
  • Address - House Number: 500
  • Address - Street Name: Thrasher
  • Address - Suffix Type: St
  • State: GA
  • City Name: Norcross
  • Carrier Code: C016
  • 4-Digit Zip Code: 1965
  • Zip Code: 30071

Valuation

    Tax

  • Tax Year: 2023
  • Tax Amount: $854,127

    Open Liens

  • Total Open Liens: 1
  • Total Open Liens Amount: $52,650,000
  • First Open Lien Mortgage Lender: METLIFE REAL ESTATE LENDING
  • First Open Lien Mortgage Recording Date: Jun 01, 2021
  • First Open Lien Mortgage Loan Amount: $52,650,000
  • First Open Lien Mortgage Term: 54
  • First Open Lien Mortgage Position: 1
  • First Open Lien Mortgage Loan Type: Commercial
  • First Open Lien Mortgage Loan Due Date: Jan 01, 2026

    Market Valuation

  • Market Total Value: $66,520,800
  • Market Land Value: $5,380,100
  • Market Improvement Value: $61,140,700

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $26,608,320
  • Assessed Land Value: $2,152,040
  • Assessed Improvements Value: $24,456,280

    Sales

  • Current Sale Contract Date: Jun 01, 2021
  • Current Sale Recording Date: Jun 01, 2021
  • Current Sale Transaction ID: 11840289245
  • Current Sale Price: $80,750,000
  • Current Sale Document Type: Limited Warranty Deed
  • Current Sale Input Document Number: 2021-017679
  • Previous Sale Recording Date: Dec 19, 2019
  • Previous Sale Contract Date: Dec 19, 2019
  • Previous Sale Amount: $3,280,000
  • Previous Sale Document Type: Limited Warranty Deed

    Last Sale Mortgage

  • First Mortgage Lender: METLIFE REAL ESTATE LENDING
  • First Mortgage Transaction Date: Jun 01, 2021
  • First Mortgage Loan Amount: $52,650,000
  • First Mortgage Terms: 54
  • First Mortgage Loan Type: Commercial
  • First Mortgage Loan Due Date: Jan 01, 2026

About Norcross



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Frequently Asked Questions

What neighborhood is 500 Thrasher Street located in?
The 500 Thrasher Street is a located in the neighborhood of Gwinnett in Norcross, Norcross.
What is the average sales price for listings in 500 Thrasher Street?
The average sales price for units in 500 Thrasher Street is $0 currently.

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