Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Rome Mixed-Use Building Title is generated by Realmo AI

    245 Broad Street, Rome, GA 30161

    View on Map
    Claim this Listing
    For Sale
    $720,000

    COMMERCIAL - Rome, GA

    Property size:
    5,706 SF
    Lot size:
    0.10 Acres
    Price / SF:
    $126/SF
    Added:
    Nov 13, 2025
    Days on Market:
    190
    Last Refresh:
    May 22 at 6:06 pm

    Property Features for 245 Broad Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active
    APN
    J14D 055
    Size
    5,706 SF
    Lot size
    0.10 Acres

    Taxes and HOA fees

    Tax Year
    24
    Tax Annual Amount
    7751

    Utilities

    Utilities
    Cable Available
    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1910
    Building materials
    Block, Brick

    We can help!

    Listing Contact
    James M Kelley Iii

    Listing agent James M Kelley Iii License #128793

    Listing office Hardy Realty & Development Company 1609 Martha Berry Blvd., Rome, GA

    Listing date Nov 13, 2025

    MLS# 10646910

    Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime downtown Rome location on Broad Street with high visibility and foot traffic.
    • Turnkey opportunity with a fully remodeled downstairs retail space and a current tenant.
    • Significant recent upgrades including a new roof, new windows, and new HVAC.
    • Downstairs retail space has approximately $90,000 in recent upgrades.
    • Upstairs apartment includes a full sprinkler system.
    • Large building (over 7,500 sq ft) with an unfinished basement for additional storage.

    Overview

    This mixed-use building, constructed in 1910, is located on Broad Street in downtown Rome. The property offers approximately 7,500 square feet of space and benefits from high visibility and foot traffic. The downstairs retail space has been remodeled with approximately $90,000 in recent upgrades and is currently occupied by a tenant. The building has a new roof, new windows, and new HVAC. The upstairs apartment includes a full sprinkler system and occupies 1/3 of the upstairs, leaving 2/3 available for renovation. An unfinished basement provides additional storage. The property is situated on a 0.1-acre lot.

    Financial Insights

    Value Estimation Calculated for Mixed Use

    Conservative
    $627.7K
    NOI $56,489 @ 9.00% cap · cautious / downside scenario
    Moderate
    $807.0K
    NOI $56,489 @ 7.00% cap · market / base-case scenario
    Aggressive
    $1.13M
    NOI $56,489 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Mixed Use

    Component $ $/SF
    Gross rent $102.7k $18.00
    − Vacancy −$12.3k −$2.16
    EGI $90.4k $15.84
    − OpEx −$33.9k −$5.94
    NOI $56.5k $9.90
    5,706 SF · lease $18.00/SF/yr · vacancy 12.00% · expense 37.50%

    Alternative Use Scenarios

    Best Use
    Mixed Use
    $807.0K
    $706.1K – $941.5K (±1% cap)
    NOI $56,489 @ 7.0% cap · market cap 7.85%
    Second Best
    Retail
    $508.6K
    $445.1K – $593.4K (±1% cap)
    NOI $35,605 @ 7.0% cap · market cap 4.95%
    Theoretical Best
    Healthcare Medical
    $945.5K
    $827.3K – $1.10M (±1% cap)
    NOI $66,185 @ 7.0% cap · market cap 9.19%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Building Supply Nail Salon Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rome
    County
    Floyd
    State
    Georgia
    Longitude
    -85.173352
    Latitude
    34.253913

    Nearby Similar for Sale

    • $695,000
      18,088 SF

      Commercial Building in West Rome

      18,000+ sq ft commercial building near Hwy 20.
      6 Redmond Court NW, Rome, GA 30165
      View Details
    • $818,131

      Commercial Building on Highway 27

      7,448 SF commercial building on 2.14 acres in Rome, GA.
      4065 Martha Berry HWY, Rome, GA 30165
      View Details
    • $299,000
      3,346 SF

      Versatile Commercial Building on Corner Lot

      3,400 SF commercial building on 1-acre corner lot.
      4729 Alabama Highway NW, Rome, GA 30165
      View Details
    • $375,000
      3,000 SF

      Office/Studio with Garage in Rome

      3000 sq ft office/studio with garage and covered parking.
      12 Commerce Court, Rome, GA 30161
      View Details
    • $299,000
      6,000 SF

      Rome GA Industrial Warehouse

      6,000 SF warehouse in Rome, GA for sale.
      1 Albion Drive, Rome, GA 30165
      View Details
    • $425,000
      4,248 SF

      Versatile Commercial Building on Highway

      4,200+ sq ft commercial building with high visibility.
      3964 Martha Berry Highway NE, Rome, GA 30165
      View Details
    • $449,000
      1,728 SF

      Commercial Property on One Acre

      Commercial building on a one-acre lot suitable for various uses.
      3041 Martha Berry Highway NW, Rome, GA 30165
      View Details
    • $4,500,000
      41,141 SF

      Downtown Rome Multi-Tenant Office

      41,000 SF multi-tenant office building in downtown Rome, GA.
      701 Broad Street, Rome, GA 30161
      View Details
    • $4,950,000
      43,000 SF

      Prime Office Investment Opportunity

      43,000 sq ft office complex on 1.58 acres.
      800 Broad Street, Rome, GA 30161
      View Details
    • $1,299,000
      5,451 SF

      Downtown Rome Commercial Building

      Versatile commercial building in downtown Rome with on-site parking.
      1 Innovation Way, Rome, GA 30161
      View Details
    • $3,200,000
      18,768 SF

      Medical/Office Investment Opportunity in Rome

      18,768 SF medical office building with income potential.
      315 W 10th Street, Rome, GA 30165
      View Details
    • $600,000
      2,400 SF

      Retail Opportunity on Shorter Avenue

      Retail property with high potential in Rome, Georgia.
      2560 Shorter Avenue NW, Rome, GA 30165
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Prime mixed-use building in downtown Rome with retail and residential.
    Where is this mixed-use property located?
    The property is located at 245 Broad Street Rome, GA.
    What is the asking price?
    The asking price for this property is $720,000.
    What are key features of this property?
    This property features: Prime downtown Rome location on Broad Street with **high visibility and foot traffic**.; **Turnkey opportunity** with a fully remodeled downstairs retail space and a current tenant.; Significant recent upgrades including a new roof, new windows, and new HVAC.
    (706) 346-7031
    We can help!
    Listing Contact
    James M Kelley Iii
    Real Estate License ID: 128793
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    245 Broad Street, Rome, GA 30161
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!