Building Details

Building Size 1,000 SF

Year Built 1950

Listed By: Debbie Conner Smith Show Phone

Source: Connersmithrealty

Added: Jan 19 Changed: Oct 25 Last Checked: Oct 23 at 4:22PM

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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 Debbie Conner Smith

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Investment Insights

Based on property information with market context.

The offering brings together two adjoining parcels: a vacant property at 1401 N Broad Street NE and a leased building on Harvey Street. The North Broad Street property dates to 1950, and the parcels are zoned C-C.

North Broad Street carries approximately 16,400 vehicles per day (AADT). The property is located at 1401 N Broad Street NE in Rome, Georgia.

Key Highlights

• Two adjoining parcels at 1401 N Broad Street NE and on Harvey Street
• North Broad Street property is vacant; the Harvey Street building is leased
• Approximately 16,400 vehicles per day (AADT) on North Broad Street

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$6,240

Cap Rate

3.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$124,800 $124.8K

Cap Rate 7%

$89,143 $89.1K

Cap Rate 9%

$69,333 $69.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,000 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $11,599 @ 7.0% cap · market cap 7.03%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Zellerman Real Estate Real Estate Agency Sporty's Barber & Style ... Barber Shop

Suggested Use

Top Pick Storage Facility Electrical Service (Bike/Boat/Book/etc) Store Parking Lot & Garage Tattoo & Piercing Shop Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

16,400 VPD

Traffic count

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

893

Businesses Nearby

102k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 47% Groceries 24% Shops & Services 21% Electronics 6%

Aldi Groceries

24,201 visits/mo 0.5 miles

Steak 'n Shake Dining

17,120 visits/mo 0.4 miles

Checkers Dining

14,569 visits/mo 0.5 miles

Circle K Shops & Services

12,146 visits/mo 0.5 miles

The Varsity Dining

6,295 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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Two adjoining parcels combine a vacant storefront with a separate leased building.

Where is this storefront property located?

The property is located at 1401 N Broad Street NE 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 at 1401 N Broad Street NE and on Harvey Street; North Broad Street property is vacant; the Harvey Street building is leased; Approximately 16,400 vehicles per day (AADT) on North Broad Street