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Opportunity in Alpharetta, You can teardown and build an Amazing new building near bustling downtown Alpharetta.. Tax records show it is approximately .36 of an acre. parking around back. Renovate this property, build new or combine it into an assemblage. Great for investment, owner-user, rental or redevelopment. property is located in historic downtown Alpharetta and it is currently zoned as O-I office-institutional.