Multi-Tenant Office
For Sale
$4,500,000
701 Broad Street, Rome, GA 30161
Downtown asset with central air, paved parking, and an established mix of professional, medical, and service users.
Property Size41,000 SF
Price / SF$109.38
Days on Market249
Property Features for 701 Broad Street
General Information
Standard status
Active
Size
41,000 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$45,957
Amenities
Central Air
3
Parking.
Paved Driveway, Lot.
2.2100000381469727
In City.
Building Details
Year Built
1974
Building Size
41,000 SF
Tenancy
Multi
Listing Agency:
Hardy Realty & Development Company
(706) 506-9051
Listed By:
James Byars
(706) 506-9051
Source:
Xome
Added: Dec 24, 2025
Changed: Aug 29
Last Checked: Aug 29 at 7:13PM
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.
Built in 1974, this multi-story office property in downtown Rome provides space for multiple occupants and includes central air. The tenant profile spans professional, medical, and service-oriented businesses, with a financial institution serving as a long-term anchor. Paved parking and a paved driveway support the property’s urban office configuration.
The building is located at 701 Broad Street in Rome, Georgia. Existing leases include scheduled rollover, providing a defined point for future leasing decisions while maintaining an established operating profile. The combination of a diversified occupant mix, long-term anchor tenancy, and in-place occupancy supports continued use as a multi-tenant office asset.
The building is located at 701 Broad Street in Rome, Georgia. Existing leases include scheduled rollover, providing a defined point for future leasing decisions while maintaining an established operating profile. The combination of a diversified occupant mix, long-term anchor tenancy, and in-place occupancy supports continued use as a multi-tenant office asset.
Key Highlights
- Multi‑story office building constructed in 1974
- Established mix of professional, medical, and service‑oriented tenants
- Long‑term financial institution serves as an anchor tenant
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
$337,907
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
7.51%
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%
$6,758,140
$6.8M
Cap Rate 7%
$4,827,243
$4.8M
Cap Rate 9%
$3,754,522
$3.8M
Market Conditions
NOI Build-Up for 41,141 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
$577.6K $14.04/SF
− Vacancy
−$127.1K −$3.09/SF
EGI
$450.5K $10.95/SF
− OpEx
−$112.6K −$2.74/SF
NOI
$337.9K $8.21/SF
Area
Floyd County, GA
Vacancy
22.00%
Lease Rate
$14.04 /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%
$6,758,140
Cap Rate 7%
$4,827,243
Cap Rate 9%
$3,754,522
Alternative Uses
Best Use
Office B
$4.83M
$4.22M – $5.63M
NOI $337,907 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$6.82M
$5.97M – $7.95M
NOI $477,203 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,572
Businesses Nearby
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown asset with central air, paved parking, and an established mix of professional, medical, and service users.
Where is this office building located?
The property is located at 701 Broad Street Rome, GA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Multi‑story office building constructed in 1974; Established mix of professional, medical, and service‑oriented tenants; Long‑term financial institution serves as an anchor tenant
