Grocery and Convenience
For Sale
$750,000
Pending
1301 Shorter Avenue SW, Rome, GA 30165
Commercial Sale, Rome, GA
Property Size4,700 SF
Lot Size0.23 Acres
Days on Market161
Property Features for 1301 Shorter Avenue SW
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
City Lot, Corner Lot, Level, Semi Turning Available
Directions
From Rome, take Shorter Ave, property is on the left, corner of Shorter Ave and Leon St.
Standard status
Pending
APN
I13L 255
Size
4,700 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
24
Tax Annual Amount
4853
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Building materials
Block
Listing Agency:
Hardy Realty & Development Company
(706) 291-4321
Listed By:
Larry E Cagle · License #138923
(706) 266-2359
Added: Mar 27
Changed: Sep 1
Last Checked: Sep 3 at 10:06PM
MLS# 10719632
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 4,700-square-foot grocery and convenience store property was built in 1958 with block construction. The building includes central heating and central air, with natural gas service supporting the heating system.
The property sits on 0.23 acres at 1301 Shorter Avenue SW in Rome, Georgia. A parking lot serves the site, while public water and public sewer are available. Cable service is also available.
The property sits on 0.23 acres at 1301 Shorter Avenue SW in Rome, Georgia. A parking lot serves the site, while public water and public sewer are available. Cable service is also available.
Key Highlights
- 4,700 square feet of commercial building area
- 0.23‑acre property at 1301 Shorter Avenue SW
- Grocery and convenience store classification
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
$51,758
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
6.90%
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%
$1,035,160
$1.0M
Cap Rate 7%
$739,400
$739.4K
Cap Rate 9%
$575,089
$575.1K
Market Conditions
NOI Build-Up for 4,700 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
$75.0K $15.96/SF
− Vacancy
−$6.0K −$1.28/SF
EGI
$69.0K $14.68/SF
− OpEx
−$17.3K −$3.67/SF
NOI
$51.8K $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%
$1,035,160
Cap Rate 7%
$739,400
Cap Rate 9%
$575,089
Alternative Uses
Best Use
Specialty Retail
$739.4K
$647.0K – $862.6K
NOI $51,758 @ 7.0% cap · market cap 6.90%
Second Best
Retail
$419.0K
$366.6K – $488.8K
NOI $29,328 @ 7.0% cap · market cap 3.91%
Theoretical Best
Healthcare Medical
$778.8K
$681.5K – $908.6K
NOI $54,516 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
347
Businesses Nearby
41k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 44%
Waffle House
Dining
12,387 visits/mo
0.1 miles
Marathon
Shops & Services
8,221 visits/mo
0.2 miles
Family Dollar
Shops & Services
6,239 visits/mo
0.4 miles
AutoZone
Shops & Services
4,597 visits/mo
0.3 miles
SUBWAY
Dining
3,953 visits/mo
0.4 miles
Demographics for 30165, GA
41,943
Population
17,159
Households
2.4
Avg Household Size
36
Median Age
26%
College-Educated
83%
High-School Grad
167.0 sq mi
ZIP Area
251
Density / Sq Mi
$63,915
Median Household Income
$35,637
Median Earnings
$949
Median Rent
$209,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Zay´s Food Mart — 522 Shorter Ave NW, Rome, GA 30165
- Morelos Supermarket Inc — 1931 Shorter Ave, Rome, GA 30165
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Block-built commercial property with central HVAC, on-site parking, and public utilities.
Where is this grocery and convenience store located?
The property is located at 1301 Shorter Avenue SW Rome, GA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4,700 square feet of commercial building area; 0.23‑acre property at 1301 Shorter Avenue SW; Grocery and convenience store classification
