Bank Building with
For Sale
$335,000
510 Calhoun Avenue NE, Rome, GA 30161
Former bank building with a vault and drive-through canopy on a corner lot with expansive paved parking.
Property Size2,098 SF
Price / SF$159.68
Days on Market507
Property Features for 510 Calhoun Avenue NE
General Information
Standard status
Active
Size
2,098 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$4,795
Amenities
Central Air
3
Composition
Parking. Corner Lot.
Paved Driveway, Lot.
1.0099999904632568
In City, Corner.
Building Details
Year Built
1974
Listing Agency:
Hardy Realty & Development Company
(706) 266-2359
Listed By:
Larry Cagle · License #138923
(706) 266-2359
Source:
Xome
Added: Apr 4, 2025
Changed: Aug 23
Last Checked: Aug 22 at 1:26PM
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 Hardy Realty & Development Company
Investment Insights
Based on property information with market context.
This 2,098-square-foot building was previously used as a bank and includes a vault. The property also features a drive-through canopy, offering a built-in setup for businesses that need service access beyond a standard storefront.
Set on over an acre at an ideal corner lot, the site provides a huge paved parking lot for customer and employee use. The corner configuration supports convenient on-site circulation.
The property is offered for sale, with public remarks indicating possible owner financing with 30% down.
Set on over an acre at an ideal corner lot, the site provides a huge paved parking lot for customer and employee use. The corner configuration supports convenient on-site circulation.
The property is offered for sale, with public remarks indicating possible owner financing with 30% down.
Key Highlights
- 2098 sq ft former bank building includes a vault
- Drive‑through canopy for customer service access
- Located on over an acre on a corner 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
$23,104
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%
$462,080
$462.1K
Cap Rate 7%
$330,057
$330.1K
Cap Rate 9%
$256,711
$256.7K
Market Conditions
NOI Build-Up for 2,098 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
$33.5K $15.96/SF
− Vacancy
−$2.7K −$1.28/SF
EGI
$30.8K $14.68/SF
− OpEx
−$7.7K −$3.67/SF
NOI
$23.1K $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%
$462,080
Cap Rate 7%
$330,057
Cap Rate 9%
$256,711
Alternative Uses
Best Use
Specialty Retail
$330.1K
$288.8K – $385.1K
NOI $23,104 @ 7.0% cap · market cap 6.90%
Second Best
Retail
$187.0K
$163.6K – $218.2K
NOI $13,091 @ 7.0% cap · market cap 3.91%
Theoretical Best
Healthcare Medical
$347.6K
$304.2K – $405.6K
NOI $24,335 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
7k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
4,359 visits/mo
0.5 miles
Dollar Tree
Shops & Services
867 visits/mo
0.4 miles
U-Haul
Shops & Services
823 visits/mo
0.3 miles
Stop N Go
Shops & Services
507 visits/mo
0.2 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?
Bank - Former bank building with a vault and drive-through canopy on a corner lot with expansive paved parking.
Where is this bank located?
The property is located at 510 Calhoun Avenue NE Rome, GA.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: 2098 sq ft former bank building includes a vault; Drive‑through canopy for customer service access; Located on over an acre on a corner lot
