Multi-Tenant Office
For Sale
$4,500,000
701 Broad Street, Rome, GA 30161
The downtown property has O-I zoning and a tenant roster spanning professional, medical, and service businesses.
Property Size41,141 SF
Price / SF$109.38
Days on Market224
Property Features for 701 Broad Street
General Information
Standard status
Active
Size
41,141 SF
Property subtype
Commercial
Zoning
O-I
Additional Details
Tenant in Place
Yes
Property Use
Office
Taxes and HOA fees
Annual Taxes
$45,957
Building Details
Building Size
41,141 SF
Year Built
1974
Buildings
1
Tenancy
Multi
Listed By:
Debbie Conner Smith
(770) 464-0897
Source:
Connersmithrealty
Added: Mar 16
Changed: Oct 23
Last Checked: Oct 23 at 3:56PM
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 Debbie Conner Smith
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1974, this multi-story office property in downtown Rome accommodates multiple tenants. Its occupants include professional, medical, and service businesses, with a financial institution serving as a long-term anchor. The rent roll also includes scheduled lease expirations, creating a defined rollover point for the tenancy.
The property is located at 701 Broad Street in Rome and is zoned O-I. Its mix of established occupants and upcoming lease rollover gives prospective owners a clear view of both the current tenant base and lease timing.
The property is located at 701 Broad Street in Rome and is zoned O-I. Its mix of established occupants and upcoming lease rollover gives prospective owners a clear view of both the current tenant base and lease timing.
Key Highlights
- Multi‑story office building with multiple tenants
- Financial institution is a long‑term tenant
- Occupants include professional, medical, and service businesses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$337,907
Cap Rate
7.51%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
Frequently Asked Questions
What type of property is this?
Office building - The downtown property has O-I zoning and a tenant roster spanning professional, medical, and service businesses.
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 with multiple tenants; Financial institution is a long‑term tenant; Occupants include professional, medical, and service businesses
