Downtown Office
For Sale
$885,000
237 N 5th Avenue SW, Rome, GA 30165
Commercial Sale, Rome, GA
Property Size5,600 SF
Lot Size0.11 Acres
Price / SF$158.04
Days on Market111
Property Features for 237 N 5th Avenue SW
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot
Lot features
City Lot, Corner Lot
Directions
Take Broad St or Turner McCall to 5th Ave
Standard status
Active
APN
J13Y 167
Size
5,600 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
5545
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1970
Building materials
Concrete
Listing Agency:
Hardy Realty & Development Company
(706) 291-4321
Listed By:
Michele Rikard · License #373333
(770) 241-0772
Added: May 14
Changed: Aug 19
Last Checked: Sep 1 at 2:06PM
MLS# 10764614
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 5,600-square-foot office building, constructed in 1970, provides a two-level layout suited to professional or medical occupancy. The main floor contains a reception area, five private offices, a conference room, kitchenette, and two restrooms. The upper level adds seven private offices, another kitchenette, and two restrooms. Concrete construction, central heating, and central air support the existing improvements.
The property includes a 0.11-acre lot with a private rear parking lot and additional street parking along the front. Located in downtown Rome along the AdventHealth ECO Greenway and the Oostanaula River, the building has street-level access to the second floor from both the front and rear. Public water and public sewer serve the property.
The property includes a 0.11-acre lot with a private rear parking lot and additional street parking along the front. Located in downtown Rome along the AdventHealth ECO Greenway and the Oostanaula River, the building has street-level access to the second floor from both the front and rear. Public water and public sewer serve the property.
Key Highlights
- 5,600‑square‑foot office building on a 0.11‑acre lot
- Main level includes 5 private offices, conference room, kitchenette, reception area, and 2 restrooms
- Upper floor provides 7 additional private offices, kitchenette, and 2 restrooms
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
$64,956
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
7.34%
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%
$1,299,120
$1.3M
Cap Rate 7%
$927,943
$927.9K
Cap Rate 9%
$721,733
$721.7K
Market Conditions
NOI Build-Up for 5,600 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
$121.0K $21.60/SF
− Vacancy
−$12.7K −$2.27/SF
EGI
$108.3K $19.33/SF
− OpEx
−$43.3K −$7.73/SF
NOI
$65.0K $11.60/SF
Area
Floyd County, GA
Vacancy
10.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
40.00%
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%
$1,299,120
Cap Rate 7%
$927,943
Cap Rate 9%
$721,733
Alternative Uses
Best Use
Healthcare Medical
$927.9K
$812.0K – $1.08M
NOI $64,956 @ 7.0% cap · market cap 7.34%
Second Best
Office B
$657.1K
$574.9K – $766.6K
NOI $45,995 @ 7.0% cap · market cap 5.20%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,250
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-level professional property with private parking, flexible office areas, and separate front and rear access to the upper floor.
Where is this office building located?
The property is located at 237 N 5th Avenue SW Rome, GA.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: 5,600‑square‑foot office building on a 0.11‑acre lot; Main level includes 5 private offices, conference room, kitchenette, reception area, and 2 restrooms; Upper floor provides 7 additional private offices, kitchenette, and 2 restrooms
