Multi-Suite Office
For Sale
$1,300,000
402 Rome St, Carrollton, GA 30117
Flexible office property with private entrances, reception areas, meeting space, and on-site parking near downtown Carrollton.
Property Size7,600 SF
Price / SF$154.76
Days on Market10
Property Features for 402 Rome St
General Information
Standard status
Active
Size
7,600 SF
Total Parking Spaces
13
Amenities
full kitchen
employee break area
training room
reception area
waiting area
Building Details
Year Built
1950
Buildings
1
Stories
2
Building Size
7,600 SF
Construction
steel beams
Listing Agency:
Keller Williams Realty Atl. Partners
(770) 252-2266
Listed By:
Kellie Wiggins · License #395713
Source:
Annakintown
Added: Aug 21
Changed: Aug 29
Last Checked: Aug 29 at 5:45PM
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 Keller Williams Realty Atl. Partners
Investment Insights
Based on property information with market context.
This office property at 402 Rome St includes multiple private suites and individual offices arranged across finished levels with separate entrances. The main floor features two executive suites, eight additional offices, a reception area, waiting space, hardwood flooring, a full kitchen with substantial cabinetry, and an employee break area. Additional offices include executive suites with built-in bookcases, while the larger suite has a kitchenette and private half bath. The finished lower level adds five offices, a training room, and a sizable storage area with shelving. Curved glass and steel details and wall-to-wall windows bring natural light to that level.
The property includes 13 parking spaces and is within walking distance of downtown Carrollton. Building improvements include six new HVAC units, a brick and siding exterior, a metal roof structure, and steel beams throughout. The design also accommodates potential elevator installation to connect the levels.
The property includes 13 parking spaces and is within walking distance of downtown Carrollton. Building improvements include six new HVAC units, a brick and siding exterior, a metal roof structure, and steel beams throughout. The design also accommodates potential elevator installation to connect the levels.
Key Highlights
- 8,400 SF PropertySize
- Two executive suites and eight additional offices on the main level
- Five lower‑level offices, training room, and large storage area with shelving
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
$112,485
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
8.65%
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%
$2,249,700
$2.2M
Cap Rate 7%
$1,606,929
$1.6M
Cap Rate 9%
$1,249,833
$1.2M
Market Conditions
NOI Build-Up for 8,400 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
$200.5K $23.87/SF
− Vacancy
−$50.5K −$6.02/SF
EGI
$150.0K $17.85/SF
− OpEx
−$37.5K −$4.46/SF
NOI
$112.5K $13.39/SF
Area
Carroll County, GA
Vacancy
25.20%
Lease Rate
$23.87 /SF/Yr
Expense Ratio
25.00%
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%
$2,249,700
Cap Rate 7%
$1,606,929
Cap Rate 9%
$1,249,833
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.87M
NOI $112,485 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,369 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
998
Businesses Nearby
Explore this area
Business Placement
Demographics for 30117, GA
37,644
Population
15,313
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
85%
High-School Grad
108.1 sq mi
ZIP Area
348
Density / Sq Mi
$58,463
Median Household Income
$31,273
Median Earnings
$1,066
Median Rent
$239,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Flexible office property with private entrances, reception areas, meeting space, and on-site parking near downtown Carrollton.
Where is this office building located?
The property is located at 402 Rome St Carrollton, GA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 8,400 SF PropertySize; Two executive suites and eight additional offices on the main level; Five lower‑level offices, training room, and large storage area with shelving
