Two Adjoining Retail
For Sale
$165,000
1401 Broad Street, Rome, GA 30161
One parcel is vacant for immediate use, while the adjacent building is leased, creating flexibility for future plans.
Property Size1,000 SF
Price / SF$165
Days on Market276
Property Features for 1401 Broad Street
General Information
Standard status
Active
Size
1,000 SF
Property subtype
General Commercial
Additional Details
Traffic Count
16,400 vehicles/day
Taxes and HOA fees
Annual Taxes
$851
Amenities
Central Air
3
Parking. Corner Lot.
Lot.
3049.199951171875
In City, Corner.
Building Details
Year Built
1950
Listing Agency:
Hardy Realty & Development Company
(678) 378-1050
Listed By:
Heath Rogers · License #392741
(678) 378-1050
Source:
Xome
Added: Nov 9, 2025
Changed: Aug 7
Last Checked: Aug 12 at 3:50AM
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 offering includes two adjoining parcels featuring storefront retail space: a vacant property at 1401 North Broad Street and an adjacent building on Harvey Street that is currently leased. The vacant Broad Street parcel provides immediate opportunity for an owner-user or repositioning, while the leased Harvey Street building may allow for lease restructuring or future redevelopment depending on the buyer’s objectives.
The North Broad Street frontage benefits from strong visibility and traffic exposure, with approximately 16,400 vehicles per day (AADT). Together, the two parcels provide a prominent presence along one of Rome’s primary commercial corridors.
Prospective buyers should note that the configuration includes both a currently vacant retail storefront and a neighboring leased retail building, offering a mix of near-term occupancy outcomes and longer-term repositioning options.
The North Broad Street frontage benefits from strong visibility and traffic exposure, with approximately 16,400 vehicles per day (AADT). Together, the two parcels provide a prominent presence along one of Rome’s primary commercial corridors.
Prospective buyers should note that the configuration includes both a currently vacant retail storefront and a neighboring leased retail building, offering a mix of near-term occupancy outcomes and longer-term repositioning options.
Key Highlights
- Two adjoining parcels: 1401 N Broad Street and the adjacent building on Harvey Street
- 1401 N Broad Street parcel is currently vacant for owner‑user or repositioning
- Harvey Street building is presently leased, offering flexibility for lease restructuring or future redevelopment
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
$6,240
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
3.78%
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%
$124,800
$124.8K
Cap Rate 7%
$89,143
$89.1K
Cap Rate 9%
$69,333
$69.3K
Market Conditions
NOI Build-Up for 1,000 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
$10.0K $9.96/SF
− Vacancy
−$1.0K −$1.05/SF
EGI
$8.9K $8.91/SF
− OpEx
−$2.7K −$2.67/SF
NOI
$6.2K $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%
$124,800
Cap Rate 7%
$89,143
Cap Rate 9%
$69,333
Alternative Uses
Best Use
Retail
$89.1K
$78.0K – $104.0K
NOI $6,240 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$165.7K
$145.0K – $193.3K
NOI $11,599 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16,400 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,572
Businesses Nearby
518k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 18%
Apparel 11%
Home Improvements & Furnishings 7%
The Home Depot
Home Improvements & Furnishings
38,142 visits/mo
0.3 miles
Five Below
Shops & Services
37,697 visits/mo
0.4 miles
Texas Roadhouse
Dining
32,991 visits/mo
0.4 miles
Panera Bread
Dining
28,681 visits/mo
0.5 miles
Chili's Grill & Bar
Dining
26,678 visits/mo
0.4 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
- Colonial House Florist & Gifts — 1104 Calhoun Ave NE, Rome, GA 30161
Frequently Asked Questions
What type of property is this?
Storefront property - One parcel is vacant for immediate use, while the adjacent building is leased, creating flexibility for future plans.
Where is this storefront property located?
The property is located at 1401 Broad Street Rome, GA.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two adjoining parcels: 1401 N Broad Street and the adjacent building on Harvey Street; 1401 N Broad Street parcel is currently vacant for owner‑user or repositioning; Harvey Street building is presently leased, offering flexibility for lease restructuring or future redevelopment
