Downtown Rome Commercial
For Sale
Contact for pricing
1 Innovation Wy, Rome, GA 30161
5,451 SF mixed-use building in downtown Rome, Georgia.
Property Size5,451 SF
Lot Size1.00 Acre
Price / SF$238.30
Days on Market164
Property Features for 1 Innovation Wy
General Information
Standard status
Active
Size
5,451 SF
Total Parking Spaces
42
Lot size
1.00 Acre
Property subtype
Retail
Zoning
H-I
Building Details
Year Built
1987
Buildings
1
Stories
2
Listing Agency:
Toles, Temple & Wright, Inc.
(706) 291-0202
Listed By:
Dan Carlton · License #GA
Source:
Crexi
Added: Feb 28
Changed: Aug 8
Last Checked: Aug 7 at 10:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Toles, Temple & Wright, Inc.
Investment Insights
Based on property information with market context.
Located in downtown Rome, Georgia, this 5,451 square foot commercial building offers an outstanding opportunity. Situated on one acre, the property includes on-site parking and is conveniently located one block from Broad Street. The main level, encompassing 3,483 square feet, has been extensively renovated and features a commercial-grade kitchen, an oversized bar area, and multiple dining or seating zones. This space is suitable for a restaurant, cafe, or event venue. The second floor, comprising 1,968 square feet, provides versatile office and meeting space. It includes 8 individual suites, a large conference room, a kitchenette, and a restroom, making it ideal for administrative operations, professional services, or additional customer areas. A large asphalt private parking lot at the rear of the building provides over 40 parking spaces. Each floor is individually powered, which could accommodate two different applications. The second floor also has a private entrance from the parking lot, further supporting diversified building use. The property is located in the historic district.
Key Highlights
- Prime downtown Rome location, just one block from Broad Street.
- Extensively renovated 3,483 SF main level featuring a commercial‑grade kitchen and bar area.
- Large private parking lot with 40+ spaces.
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
Mixed Use
$770.9K
$674.6K – $899.4K
NOI $53,965 @ 7.0% cap · market cap 4.15%
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
Location Intelligence
Trade Area within ½ mile
456
Businesses Nearby
1k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Beauty & Spa 100%
Merle Norman Cosmetic Studio
Beauty & Spa
1,159 visits/mo
0.5 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 5,451 SF mixed-use building in downtown Rome, Georgia.
Where is this mixed-use property located?
The property is located at 1 Innovation Wy 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: Prime downtown Rome location, just one block from Broad Street.; Extensively renovated 3,483 SF main level featuring a commercial‑grade kitchen and bar area.; Large private parking lot with 40+ spaces.
