Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    203 8Th St Rome, GA 30161
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    203 8Th St Rome, GA 30161

    View on Map
    • Retail space
    • 2,133 SF
    For Sale
    $375,000
    View Listing →
    Downtown Rome Commercial Gem For Sale
    $375,000
    2,133 SF

    Downtown Rome Commercial Gem

    Versatile building, 12 parking spaces, high visibility.

    203 8Th St, Rome, GA 30161
    View Listing
    Property ID
    US22-2067617
    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

    • Mel & Mimi / Clothing & Fashion Store

    Property Details for 203 8Th St

    Year built
    1901
    Construction
    WOOD FRAME
    Property size
    2,133 SF
    Zone code
    M-R
    Property type
    Retail space
    APN
    J14G- -025 -
    APU
    J14G025

    Description

    This exceptional 2,133 square foot commercial property at 203 E 8th Street SW in Rome, Georgia presents a unique investment opportunity. Situated on a 0.28-acre lot, this building boasts a prime location near the heart of downtown, ensuring high visibility and accessibility. Currently zoned M-R, the property offers remarkable versatility. Its potential uses are diverse, including retail space and even conversion into an apartment building, given its existing layout. The main level features a full kitchen and a half bath, providing ample space for various commercial ventures. Upstairs, two full bathrooms add to the functionality and potential for multi-unit occupancy. A significant advantage is the inclusion of twelve dedicated parking spaces, a rare commodity in many downtown areas. A separate entrance staircase from the parking lot leads directly to the second story, enhancing accessibility and potentially creating distinct rental units. Priced at $375,000, this property represents a compelling investment in a thriving downtown location with significant upside potential. The combination of its historic charm, versatile zoning, and ample parking makes this a truly exceptional opportunity.

    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
    -85.1643
    Latitude
    34.2435
    CBSA code
    40660
    CBSA name
    ROME, GA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $3,180
    $20,190
    $70,362
    $90,552
    -
    $50,474
    $175,906
    $226,380

    Comparable in this City

    • Value Estimation by Request
      2,000 SF

      503 2nd Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      503 2nd Ave, Rome, GA 30161-3249
      View Details
    • Value Estimation by Request
      880 SF

      Chulio Rd

      RETAIL STORES (PERSONAL SERVICES) • 880 SF
      Chulio Rd, Rome, GA 30161
      View Details
    • Value Estimation by Request
      1,095 SF

      518 Broad St

      RETAIL STORES (PERSONAL SERVICES) • 1,095 SF
      518 Broad St, Rome, GA 30161-3010
      View Details
    • Value Estimation by Request
      2,400 SF

      1104 Calhoun NE Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,400 SF
      1104 Calhoun NE Ave, Rome, GA 30161-5710
      View Details
    • Value Estimation by Request
      1,139 SF

      304 Gln Milner Blvd

      RETAIL STORES (PERSONAL SERVICES) • 1,139 SF
      304 Gln Milner Blvd, Rome, GA 30161-3204
      View Details
    • Value Estimation by Request
      7,049 SF

      107 Broad St

      RETAIL STORES (PERSONAL SERVICES) • 7,049 SF
      107 Broad St, Rome, GA 30161-3019
      View Details

    Similar Nearby for Sale

    • $249,000
      0.07 Acres

      Prime Commercial Land in Rome, GA

      Two adjoining parcels with high visibility on North Broad Street.
      1401 N Broad St NE, Rome, GA 30161
      View Details
    • $269,000
      1,067 SF

      Commercial Property Near Maple Avenue

      Commercial property in East Rome near upcoming park redevelopment.
      1306 Maple Ave SW, Rome, GA 30161
      View Details
    • $269,000
      0.15 Acres

      Commercial Property Near Banty Jones Park

      Commercial property in East Rome near upcoming park redevelopment.
      1306 Maple Ave SW, Rome, GA 30161
      View Details
    • $720,000
      5,706 SF

      Downtown Rome Mixed-Use Building

      Prime mixed-use building in downtown Rome with retail and residential.
      245 Broad Street Ext, Rome, GA 30161
      View Details
    • $475,000
      3,341 SF

      Downtown Rome Commercial Opportunity

      3,341 sq ft building in the heart of Broad Street.
      318 Broad Street Ext, Rome, GA 30161
      View Details
    • $330,000
      4,956 SF

      Versatile Commercial Facility on Calhoun

      4,956 SF commercial facility on 1-acre in Rome, GA.
      2432 Calhoun Rd NE, Rome, GA 30161
      View Details

    Similar Nearby for Lease

    • $2,500 /Mo
      1,638 SF

      Retail Space in Rome, GA

      Commercial space for lease with high visibility and traffic.
      408 S Broad St, Rome, GA 30161
      View Details
    • $6,834 /Mo
      2,000 SF

      Retail Space with Drive-Thru

      2,000 SF retail space with drive-thru in Rome, GA.
      672 Braves Blvd Unit, Rome, GA 30161
      View Details
    • $3,000 /Mo
      3,341 SF

      Downtown Rome Retail Opportunity

      3,341 SF retail space in the heart of Rome, GA.
      318 Broad Street Ext, Rome, GA 30161
      View Details
    • $4,400 /Mo
      69,260 SF

      Office Space in Rome, GA

      Office space for rent with utilities included in Rome.
      800 Broad Street Ext, Rome, GA 30161
      View Details
    • $20 SF/Yr
      68,000 SF

      Renovated Cotton Warehouse Available

      Renovated commercial space in Rome, GA, with tenant improvements.
      314 E 1St Ave, Rome, GA 30161
      View Details
    • $20 SF/Yr
      68,000 SF

      Renovated Cotton Warehouse Available

      Renovated commercial space in Rome, GA, starting at $20/sqft.
      314 E 1St Ave, Rome, GA 30161
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    203 8Th St
    Rome, GA 30161
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!