Zoned commercial, recognizable Old Fourth Ward modern tries again for $3.5M

Spend enough time driving around Atlanta, and you’re sure to pass this very recognizable modern-style structure at the John Lewis Freedom Parkway exit where it meets Boulevard.

After all, it’s hard to miss the five-story, aluminum-sided “iconic building,” as the listing puts it.

The Old Fourth Ward property began as a brick building housing a bakery before undergoing a transformation and expansion, designed by Atlanta-based The K.I.A. Group, back in 1998.

At that time, it served as a single-family home with four bedrooms, very high ceilings, expansive windows, and enviable skyline views.

Today, it has four bedrooms, four and 1/2 bathrooms, and a whopping 10,500 square feet. Oh, and 10 parking spaces.

In 2014, when it first blipped the radar here, the home landed on the market for $3,500,000, but failed to land a sale. It reemerged in 2016, zoned commercial, for a lofty $5,000,000.

Again, it did not secure the right offer.

Now it’s back, again for $3,500,000, and it’s being touted as a possible live-work, loft-office, restaurant, studio, or event space.

The listing goes so far as to suggest the property could be redone as a mid-rise luxury condo stack or hotel development.

It’s hard to say if time will make the heart grow fonder for potential buyers, but with a listing price tripling its (much smaller) competitors, garnering a contract for the full ask could be a hard sell.

Then again, could the possibility of a hot new development—with extremely high visibility—in the Old Fourth Ward entice investors into taking the leap this time?

• 442 Cain Street [Bull Realty]