Two-Story Office
For Sale
$885,000
237 N 5th Ave SW, Rome, GA 30165
Downtown commercial building with private rear parking, street-level access, and multiple private offices across two floors.
Property Size5,600 SF
Price / SF$158.04
Days on Market39
Property Features for 237 N 5th Ave SW
General Information
Standard status
Active
Size
5,600 SF
Building Details
Year Built
1970
Buildings
1
Stories
2
Listing Agency:
Hardy Realty & Development Company
(706) 291-4321
Listed By:
Michele Rikard · License #373333
Source:
Eternorealtygroup
Added: Jul 21
Changed: Aug 27
Last Checked: Aug 25 at 4:29AM
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 two-story office property contains 5,600 square feet and was built in 1970. The main level includes a reception area, five private offices, a conference room, kitchenette, and two restrooms. The upper level adds seven private offices, a kitchenette, and two restrooms, creating a substantial configuration for professional office operations.
Located at 237 N 5th Ave SW in downtown Rome’s River District, the property sits along the AdventHealth ECO Greenway and the Oostanaula River. A private parking lot is positioned behind the building, with additional street parking along the front. The second floor has entry points from the street at both the front and rear.
Located at 237 N 5th Ave SW in downtown Rome’s River District, the property sits along the AdventHealth ECO Greenway and the Oostanaula River. A private parking lot is positioned behind the building, with additional street parking along the front. The second floor has entry points from the street at both the front and rear.
Key Highlights
- 5,600‑square‑foot office building on two levels
- Main floor with reception area, 5 private offices, conference room, kitchenette, and 2 restrooms
- Upper level includes 7 private offices, kitchenette, and 2 restrooms
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
$55,440
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
6.26%
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%
$1,108,800
$1.1M
Cap Rate 7%
$792,000
$792.0K
Cap Rate 9%
$616,000
$616.0K
Market Conditions
NOI Build-Up for 5,600 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
$100.8K $18.00/SF
− Vacancy
−$12.1K −$2.16/SF
EGI
$88.7K $15.84/SF
− OpEx
−$33.3K −$5.94/SF
NOI
$55.4K $9.90/SF
Area
Floyd County, GA
Vacancy
12.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,108,800
Cap Rate 7%
$792,000
Cap Rate 9%
$616,000
Alternative Uses
Best Use
Mixed Use
$792.0K
$693.0K – $924.0K
NOI $55,440 @ 7.0% cap · market cap 6.26%
Second Best
Office B
$657.1K
$574.9K – $766.6K
NOI $45,995 @ 7.0% cap · market cap 5.20%
Theoretical Best
Healthcare Medical
$927.9K
$812.0K – $1.08M
NOI $64,956 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,250
Businesses Nearby
Explore this area
Business Placement
Demographics for 30165, GA
41,943
Population
17,159
Households
2.4
Avg Household Size
36
Median Age
26%
College-Educated
83%
High-School Grad
167.0 sq mi
ZIP Area
251
Density / Sq Mi
$63,915
Median Household Income
$35,637
Median Earnings
$949
Median Rent
$209,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown commercial building with private rear parking, street-level access, and multiple private offices across two floors.
Where is this office building located?
The property is located at 237 N 5th Ave SW Rome, GA.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: 5,600‑square‑foot office building on two levels; Main floor with reception area, 5 private offices, conference room, kitchenette, and 2 restrooms; Upper level includes 7 private offices, kitchenette, and 2 restrooms
