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    1802 Shorter Ave Rome, GA 30165
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    Property profile & analytics

    1802 Shorter Ave Rome, GA 30165

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    • Commercial real estate
    • 4,000 SF
    Off-Market
    Property ID
    US22-4110922
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • B and H wheels and tires / (Bike/Boat/Book/etc) Store / Auto Parts Store

    Property Details for 1802 Shorter Ave

    Property size
    4,000 SF
    Property type
    Commercial real estate

    Description

    This exceptional 4,000 square foot mixed-use property in Rome, Georgia, presents a unique investment opportunity. Located at 1802 Shorter Ave, in Floyd County, zip code 30165, this versatile space offers a blend of commercial and storage potential. The main building features one office/room and two bathrooms, ideal for a variety of businesses. A significant advantage is the inclusion of a large, detached garage at the rear, suitable for use as a separate workshop, storage facility, or even an expansion of the main business. The property is available for lease under a net lease agreement with a minimum lease term of two years. Flexibility is key

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rome
    County
    Floyd
    State
    Georgia
    Longitude
    -85.216018
    Latitude
    34.2695749

    Comparable in this City

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      Residential Land in Rome, GA

      Sewer building lot for custom home near downtown Rome.
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    Similar Nearby for Sale

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      Five-Unit Multifamily Property For Sale

      Five-unit multifamily property in Rome, Georgia with strong economic growth.
      29 Butler St, Rome, GA 30165
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    • Contact for pricing
      3,346 SF

      Versatile Commercial Building on Highway

      3,400 SF commercial building on 1-acre corner lot.
      4729 Alabama Hwy, Rome, GA 30165
      View Details
    • $885,000
      5,600 SF

      Downtown Rome Commercial Property

      Prime commercial space in downtown Rome with private parking.
      237 N 5Th Ave SW, Rome, GA 30165
      View Details
    • $489,900
      Pending

      Woodland Estate on Nearly 20 Acres

      Private wooded serenity, blending architecture with the beauty of North Georgia.
      1043 Wilkerson Rd SW, Rome, GA 30165
      View Details
    • $81,500
      1.28 Acres

      Residential Land in Rome, GA

      Sewer building lot for custom home near downtown Rome.
      55 Mountain Crest Dr SW, Rome, GA 30165
      View Details
    • $249,900
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      Rome, GA Duplex Investment

      Renovated duplex in Rome, GA, great investment opportunity.
      973 Barker Rd SW, Rome, GA 30165
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    Similar Nearby for Lease

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      Former Education Facility For Lease

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      Retail Space on Shorter Avenue

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      Downtown Rome Commercial Office Space

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      Freestanding Building on Shorter Avenue

      Freestanding retail building in a high-traffic location.
      618 Shorter Ave NW, Rome, GA 30165
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    Rome, GA 30165
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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