Open-Layout Storefront
For Sale
$469,900
318 Broad Street, Rome, GA 30161
Recent plumbing, flooring, and roof repairs support flexible future occupancy.
Property Size3,341 SF
Price / SF$140.65
Days on Market1088
Property Features for 318 Broad Street
General Information
Standard status
Active
Size
3,341 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$3,647
Amenities
Central Air, Electric
3
Parking.
Other Parking.
0.0
Building Details
Year Built
1901
Listing Agency:
Hardy Realty & Development Company
(706) 676-6853
Listed By:
Michelle Gibson · License #343549
(706) 676-6853
Source:
Xome
Added: Sep 10, 2023
Changed: Aug 30
Last Checked: Aug 31 at 12:48PM
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 storefront property at 318 Broad Street contains 3,341 square feet and was constructed in 1901. The interior follows an open configuration from the front entrance through the rear, providing a simple layout for future buildout. Central air and electric service are listed among the interior features.
Building repairs addressing plumbing, flooring, and roofing were completed in accordance with requirements identified by the City of Rome building inspector. The property is positioned on Broad Street in downtown Rome, Georgia, with visibility from the street and parking noted among the exterior features.
Building repairs addressing plumbing, flooring, and roofing were completed in accordance with requirements identified by the City of Rome building inspector. The property is positioned on Broad Street in downtown Rome, Georgia, with visibility from the street and parking noted among the exterior features.
Key Highlights
- 3,341‑square‑foot storefront property at 318 Broad Street, Rome, GA 30161
- Open interior arrangement extending from the front of the building to the rear
- Plumbing, flooring, and roof repairs completed per City of Rome building inspector requirements
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
$20,848
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
4.44%
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%
$416,960
$417.0K
Cap Rate 7%
$297,829
$297.8K
Cap Rate 9%
$231,644
$231.6K
Market Conditions
NOI Build-Up for 3,341 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
$33.3K $9.96/SF
− Vacancy
−$3.5K −$1.05/SF
EGI
$29.8K $8.91/SF
− OpEx
−$8.9K −$2.67/SF
NOI
$20.8K $6.24/SF
Area
Floyd County, GA
Vacancy
10.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
30.00%
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%
$416,960
Cap Rate 7%
$297,829
Cap Rate 9%
$231,644
Alternative Uses
Best Use
Retail
$297.8K
$260.6K – $347.5K
NOI $20,848 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$553.6K
$484.4K – $645.9K
NOI $38,753 @ 7.0% cap · market cap 8.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
1k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Greenway Chrysler Dodge Jeep Ram of Rome
Shops & Services
1,384 visits/mo
0.1 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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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - Recent plumbing, flooring, and roof repairs support flexible future occupancy.
Where is this storefront property located?
The property is located at 318 Broad Street Rome, GA.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: 3,341‑square‑foot storefront property at 318 Broad Street, Rome, GA 30161; Open interior arrangement extending from the front of the building to the rear; Plumbing, flooring, and roof repairs completed per City of Rome building inspector requirements
