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    Downtown Carrollton Commercial Property Title is generated by Realmo AI

    402 Rome Street, Carrollton, GA 30117

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    Claim this Listing
    For Sale
    $1,300,000

    Spacious 7,600 sq ft commercial property in downtown Carrollton.

    Type:Commercial/Industrial
    Property size:
    7,600 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $171/SF
    Added:
    Mar 11, 2026
    Days on Market:
    85
    Last Refresh:
    Apr 5 at 10:57 pm

    Property Features for 402 Rome Street

    General Information

    Standard status
    Active
    Size
    7,600 SF
    Lot size
    0.25 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Kellie Wiggins
    Kellie Wiggins

    Listing agent Kellie Wiggins License #395713

    Listing office Keller Williams Realty Atl. Partners

    Listing date Mar 11, 2026

    Source Exitrealty

    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 Keller Williams Realty Atl. Partners

    HighLights

    • Prime downtown Carrollton location.
    • 7,600 sq. ft. of versatile space across two levels, each with a private entrance.
    • Includes 13 parking spaces, a rare asset in the downtown area.
    • Well‑maintained with six new HVAC units, brick/siding exterior, and metal roof.
    • Features executive office suites, multiple offices, full kitchen, training room, and ample storage.
    • Modern lower level with curved glass, steel accents, and wall‑to‑wall windows.

    Overview

    This 7,600 sq. ft. commercial property is located in downtown Carrollton. It features two levels of versatile space, each with its own private entrance. The main level includes two executive office suites, eight additional offices, and a spacious full kitchen with ample cabinetry and a dedicated employee break area. The office space is enhanced by hardwood floors, a generous waiting area, and a reception area. The upper level provides privacy, with individual offices and an expansive hallway. Two executive suites feature built-in bookcases, with the larger suite offering a kitchenette and private half bath. The finished lower level has modern and contemporary touches, including curved glass and steel accents and wall-to-wall windows that provide natural light. It includes five offices, a training room suitable for conferences and meetings, and a large storage area with ample shelving. The property includes 13 parking spaces. It has been well-maintained with six new HVAC units, a durable brick and siding exterior, and a metal roof structure. The structure of this property has steel beams throughout. This property also has the capability to install an elevator to access each level. Located within walking distance of downtown, this property offers possibilities for various business needs.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $181.4k $23.87
    − Vacancy −$45.7k −$6.02
    EGI $135.7k $17.85
    − OpEx −$33.9k −$4.46
    NOI $101.8k $13.39
    7,600 SF · lease $23.87/SF/yr · vacancy 25.20% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.45M
    $1.27M – $1.70M (±1% cap)
    NOI $101,772 @ 7.0% cap · market cap 7.83%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $2.12M
    $1.86M – $2.48M (±1% cap)
    NOI $148,714 @ 7.0% cap · market cap 11.44%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    CSRA Probation Inc. Probation Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Carrollton
    County
    Carroll
    State
    Georgia
    Longitude
    -85.0754
    Latitude
    33.5831

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    FAQs

    What type of property is this?
    Office building - Spacious 7,600 sq ft commercial property in downtown Carrollton.
    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: Prime downtown Carrollton location.; 7,600 sq. ft. of versatile space across two levels, each with a private entrance.; Includes 13 parking spaces, a rare asset in the downtown area.
    (770) 252-2266
    We can help!
    Listing Contact
    Kellie Wiggins
    Kellie Wiggins
    Real Estate License ID: 395713
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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