Two-Story Restaurant with Commercial
For Sale
$1,299,000
Pending
1 Innovation Way, Rome, GA 30161
COMMERCIAL - Rome, GA
Property Size5,451 SF
Lot Size1.00 Acre
Days on Market290
Property Features for 1 Innovation Way
General Information
Property type
Commercial Sale
Property subtype
Office
Parking
42
Parking features
Parking Lot
Lot features
City Lot, Level
Directions
GPS to First Avenue in downtown Rome, then onto Innovation Way which parallels East Third Street. Innovation Way is directly across from the shipping area of the grain mill.
Standard status
Pending
APN
J14E 011
Size
5,451 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
12849
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Forced Air, Natural Gas
Cooling system
Electric, Zoned, Central Air
Water source
Public
Building Details
Year built
1987
Flooring type
Carpet, Tile
Building materials
Brick
Roof type
Composition
Listing Agency:
Toles, Temple & Wright, Inc.
(706) 291-0202
Listed By:
Billy G Cooper · License #393670
(770) 881-1954
Added: Oct 27, 2025
Changed: Aug 4
Last Checked: Aug 12 at 7:06AM
MLS# 10639009
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story commercial building totals 5,451 SF and includes an extensively renovated main level (3,483 SF) designed for restaurant, café, or event concepts. The main floor features a commercial-grade kitchen, an oversize bar area, and multiple dining or seating zones. The second floor (1,968 SF) provides flexible office and meeting space with 8 individual suites, a large conference room, kitchenette, and restroom.
On-site parking is provided by a large asphalt private parking lot at the rear with 40+ spaces. Each floor is individually powered to support two differing applications, and the second floor also has a private entrance from the parking lot. The property is located in the historic district, one block from Broad Street, and is built of brick (composition roof) with forced-air natural gas heating and central air conditioning.
The combination of street-level dining support and suite-style workspace on the upper level may appeal to operators looking for a building that can support multiple uses within the same footprint.
On-site parking is provided by a large asphalt private parking lot at the rear with 40+ spaces. Each floor is individually powered to support two differing applications, and the second floor also has a private entrance from the parking lot. The property is located in the historic district, one block from Broad Street, and is built of brick (composition roof) with forced-air natural gas heating and central air conditioning.
The combination of street-level dining support and suite-style workspace on the upper level may appeal to operators looking for a building that can support multiple uses within the same footprint.
Key Highlights
- 5,451 SF brick restaurant building on 1 acre
- Main level renovated: 3,483 SF with commercial‑grade kitchen and oversize bar
- Second floor: 1,968 SF with 8 individual suites plus large conference room
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$60,029
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,200,580
$1.2M
Cap Rate 7%
$857,557
$857.6K
Cap Rate 9%
$666,989
$667.0K
Market Conditions
NOI Build-Up for 5,451 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$87.0K $15.96/SF
− Vacancy
−$7.0K −$1.28/SF
EGI
$80.0K $14.68/SF
− OpEx
−$20.0K −$3.67/SF
NOI
$60.0K $11.01/SF
Area
Floyd County, GA
Vacancy
8.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,200,580
Cap Rate 7%
$857,557
Cap Rate 9%
$666,989
Alternative Uses
Best Use
Specialty Retail
$857.6K
$750.4K – $1.00M
NOI $60,029 @ 7.0% cap · market cap 4.62%
Second Best
Office B
$639.6K
$559.6K – $746.2K
NOI $44,771 @ 7.0% cap · market cap 3.45%
Theoretical Best
Healthcare Medical
$903.2K
$790.3K – $1.05M
NOI $63,227 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Office units
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 30161, GA
35,382
Population
14,924
Households
2.4
Avg Household Size
41
Median Age
27%
College-Educated
85%
High-School Grad
143.3 sq mi
ZIP Area
247
Density / Sq Mi
$60,176
Median Household Income
$34,545
Median Earnings
$1,006
Median Rent
$185,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two-story restaurant building with renovated main level kitchen and a private rear parking lot in Rome’s historic district.
Where is this conventional restaurant located?
The property is located at 1 Innovation Way Rome, GA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 5,451 SF brick restaurant building on 1 acre; Main level renovated: 3,483 SF with commercial‑grade kitchen and oversize bar; Second floor: 1,968 SF with 8 individual suites plus large conference room
