Multi-Level Office
For Sale
$1,300,000
402 Rome Street, Carrollton, GA 30117
Commercial Sale, Carrollton, GA
Property Size7,600 SF
Lot Size0.25 Acres
Price / SF$154.76
Days on Market723
Property Features for 402 Rome Street
General Information
Property type
Commercial Sale
Property subtype
Office
Parking features
Parking Lot
Lot features
Level
Directions
GPS Friendly
Standard status
Active
APN
C02 0040006
Size
8,400 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
4203
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Amenities
hardwood floors
waiting area
reception area
full kitchen
break area
built-in bookcases
kitchenette
half bath
curved glass and steel accents
wall-to-wall windows
training room
storage area
Building Details
Year built
1950
Flooring type
Hardwood, Concrete
Building materials
Brick, Vinyl Siding
Roof type
Metal
Listing Agency:
Keller Williams Realty Atl. Partners
(770) 252-2266
Listed By:
Kellie Wiggins · License #395713
(770) 301-0750
Added: Sep 16, 2024
Changed: Aug 19
Last Checked: Sep 8 at 6:06PM
MLS# 10390500
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 office building offers a broad mix of private and collaborative workspace, including executive suites, additional offices, reception and waiting areas, a full kitchen with an employee break area, and an upper-level kitchenette. Built-in bookcases, hardwood flooring, concrete flooring, curved glass, steel accents, and extensive windows add variety to the interior environment. The property also includes a training room, storage with shelving, and private entrances serving separate areas.
The building sits on a 0.25-acre parcel at 402 Rome Street in Carrollton, Georgia, within walking distance of downtown. Thirteen parking spaces are provided on site. Property features include a brick and vinyl siding exterior, a metal roof, steel beams, central heating and cooling, public water and sewer, and electricity availability. Six new HVAC units have been installed, and the structure has the capability for elevator installation between levels.
The building sits on a 0.25-acre parcel at 402 Rome Street in Carrollton, Georgia, within walking distance of downtown. Thirteen parking spaces are provided on site. Property features include a brick and vinyl siding exterior, a metal roof, steel beams, central heating and cooling, public water and sewer, and electricity availability. Six new HVAC units have been installed, and the structure has the capability for elevator installation between levels.
Key Highlights
- 8,400 square feet of office property on a 0.25‑acre parcel
- 2 executive office suites and 8 additional offices on the main level
- 13 parking spaces in an on‑site parking lot
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
$112,485
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
8.65%
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%
$2,249,700
$2.2M
Cap Rate 7%
$1,606,929
$1.6M
Cap Rate 9%
$1,249,833
$1.2M
Market Conditions
NOI Build-Up for 8,400 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
$200.5K $23.87/SF
− Vacancy
−$50.5K −$6.02/SF
EGI
$150.0K $17.85/SF
− OpEx
−$37.5K −$4.46/SF
NOI
$112.5K $13.39/SF
Area
Carroll County, GA
Vacancy
25.20%
Lease Rate
$23.87 /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%
$2,249,700
Cap Rate 7%
$1,606,929
Cap Rate 9%
$1,249,833
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.87M
NOI $112,485 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,369 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
998
Businesses Nearby
Explore this area
Business Placement
Demographics for 30117, GA
37,644
Population
15,313
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
85%
High-School Grad
108.1 sq mi
ZIP Area
348
Density / Sq Mi
$58,463
Median Household Income
$31,273
Median Earnings
$1,066
Median Rent
$239,600
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 - Multi-level office property with private entrances, conference space, kitchen facilities, and on-site parking.
Where is this office building located?
The property is located at 402 Rome Street Carrollton, GA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 8,400 square feet of office property on a 0.25‑acre parcel; 2 executive office suites and 8 additional offices on the main level; 13 parking spaces in an on‑site parking lot
