Brick Storefront
For Sale
$469,900
318 Broad Street, Rome, GA 30161
Commercial Sale, Rome, GA
Property Size3,341 SF
Price / SF$140.65
Days on Market1073
Property Features for 318 Broad Street
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level
Directions
Broad Street in Downtown Rome, 300 Block
Standard status
Active
APN
J14C 109
Size
3,341 SF
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3647
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1901
Building materials
Brick
Listing Agency:
Hardy Realty & Development Company
(706) 291-4321
Listed By:
Michelle M Gibson · License #343549
(706) 676-6853
Added: Sep 16, 2023
Changed: Aug 19
Last Checked: Aug 23 at 10:06AM
MLS# 10667354
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.
Investment Insights
Based on property information with market context.
Brick storefront building located at 318 Broad Street in downtown Rome. The 3,341 square foot space features an open layout from the front of the building through to the back, creating a flexible “blank canvas” for a new user’s layout and finishes. The building is heated with central systems and cooled with central air and electric cooling.
The property has recently completed required repairs per the City of Rome building inspector, including plumbing, flooring, and roof items. Construction materials are brick, and the building is supported by public water and public sewer.
This is a for-sale offering that is also available for lease, depending on which transaction proceeds first.
The property has recently completed required repairs per the City of Rome building inspector, including plumbing, flooring, and roof items. Construction materials are brick, and the building is supported by public water and public sewer.
This is a for-sale offering that is also available for lease, depending on which transaction proceeds first.
Key Highlights
- 3,341 SF brick storefront building with open layout from front to back
- Recently completed City of Rome required repairs: plumbing, flooring, and roof items
- Central heat plus central air with electric cooling
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
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,325
Businesses Nearby
161k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 30%
Hotels & Casinos 4%
Beauty & Spa 4%
Michaels
Shops & Services
35,980 visits/mo
0.5 miles
Panera Bread
Dining
28,681 visits/mo
0.5 miles
Chili's Grill & Bar
Dining
26,678 visits/mo
0.5 miles
IHOP
Dining
14,471 visits/mo
0.5 miles
Hardee's
Dining
10,653 visits/mo
0.5 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Blooms Floral Studio — 312 E 7th St SW, Rome, GA 30161
Frequently Asked Questions
What type of property is this?
Storefront property - Brick storefront building with an open layout and central HVAC, recently repaired and ready for customization.
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 SF brick storefront building with open layout from front to back; Recently completed City of Rome required repairs: plumbing, flooring, and roof items; Central heat plus central air with electric cooling
