Current Use by Public Records
- Boaz Ministry (A project of GRACE) / Charitable Organization / Social Service Agency
- Ken-Mar Custom Carpets / Building Supply / Hardware & Home Improvement
Property Details for 706 Elm St
- Lot size
- 0.31 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This Rockmart, Georgia storefront presents a compelling investment opportunity. Located at 706 W Elm Street, this single-story, 6,600 square foot building sits on a 0.31-acre lot and offers 20 parking spaces. Currently, it features two tenants with a 2.6-year remaining lease term (commencing June 1, 2024, and expiring June 30, 2027), generating a current NOI of $17,940 and a 5.2% cap rate. The property includes six individual drive-up storage units situated beneath the main building, and an additional 800 square feet of leased upstairs space. With potential for two more 1,000 square foot tenants, a pro-forma NOI of $31,740 and a 9.2% cap rate are achievable. The property is zoned commercial and has a current asking price of $345,000 ($52.27/sq ft). The net rentable area is 4,200 square feet. No rent bumps are included in the current lease. This property offers significant upside potential for savvy investors seeking a strong return in a prime location. The APN is R09-060-.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rockmart
- County
- Polk
- State
- Georgia
- Longitude
- -85.0595
- Latitude
- 34.0024
