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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2338 Shorter NW Ave Rome, GA 30165-1944

    • Outlet malls
    • 137,373 SF
    • 17.25 lot acres
    OFF-MARKET
    Value Estimations
    $9,710,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US22-2063065
    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.

    Current Use by Public Records

    • Lowe's Garden Center / Garden Center
    • Lowe's Home Improvement / Flooring Store / Building Materials Supplier
    • Lowe's ProServices / Building Materials Supplier
    • Installation Services / Contractor
    • Minute Key / Key Duplication Service

    Property Details for 2338 Shorter NW Ave

    Year built
    2001
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    17.25 lot acres
    Property size
    137,373 SF
    Property type
    Outlet malls
    APN
    H13X- -252 -
    APU
    H13X252

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $14,285,000
      6.5%
      $13,190,000
      7%
      $12,245,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,641,000
      Market price range: $8.16M - $27.3M
      AI Estimate
      $6,293,000
      Market price range: $4.95M - $17.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    Rome
    County
    Floyd
    State
    Georgia
    Longitude
    -85.2346
    Latitude
    34.2733
    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
    $109,556
    $837,312
    $2,282,688
    $3,120,000
    -
    $2,093,281
    $5,706,719
    $7,800,000

    Comparable in this City

    • Value Estimation
      $8,480,000
      116,038 SF

      2550 Redmond NW Cir

      WHOLESALE OUTLET, DISCOUNT STORE • 116,038 SF
      2550 Redmond NW Cir, Rome, GA 30165-1913
      View Details
    • Value Estimation by Request
      1.47 Acres

      Rogers Dr

      WHOLESALE OUTLET, DISCOUNT STORE • 1.47 Acres
      Rogers Dr, Rome, GA 30165
      View Details
    • Value Estimation by Request
      5,315 SF

      4672 Martha Berry NE Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 5,315 SF
      4672 Martha Berry NE Hwy, Rome, GA 30165-7716
      View Details
    • Value Estimation
      $14,065,000
      201,166 SF

      2510 Redmond NW Cir

      WHOLESALE OUTLET, DISCOUNT STORE • 201,166 SF
      2510 Redmond NW Cir, Rome, GA 30165-1913
      View Details
    • Value Estimation by Request
      7,500 SF

      4511 Alabama SW Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 7,500 SF
      4511 Alabama SW Hwy, Rome, GA 30165
      View Details
    • Value Estimation by Request
      2,688 SF

      3723 Martha Berry NW Hwy

      WHOLESALE OUTLET, DISCOUNT STORE • 2,688 SF
      3723 Martha Berry NW Hwy, Rome, GA 30165-7704
      View Details

    Similar Nearby for Sale

    • $2,154,182
      10,640 SF

      New Dollar General Market Store

      New Dollar General Market store with a 15-year NNN lease.
      5 Turner Bend Rd SW, Rome, GA 30165
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    • $3,200,000
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      Medical/Office Investment Opportunity in Rome

      18,768 SF medical office building near Atrium Health Floyd.
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    • $300,000
      1,852 SF

      Retail Building on Shorter Avenue

      Retail building with high visibility and traffic count.
      1400 Shorter Ave NW, Rome, GA 30165
      View Details
    • $459,000
      4,248 SF

      Commercial Building on Busy Highway

      4,200+ sq ft commercial building with high visibility.
      3964 Martha Berry Hwy NE, Rome, GA 30165
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    • $1,450,000
      3,200 SF

      Versatile Commercial Property in Rome

      1.57-acre commercial property with automotive shop and rental houses.
      1103 Shorter Ave SW, Rome, GA 30165
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    • $120,000

      Prime Rome, GA Commercial Land

      Vacant Land, Zoned Commercial, $120,000
      3726 Martha Berry Hwy, Rome, GA 30165
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    Similar Nearby for Lease

    • Contact for pricing
      5,718 SF

      Retail Space in Publix-Anchored Center

      Retail space in Rome, GA, near major employers and university.
      435 Turner Mccall Blvd NE, Rome, GA 30165
      View Details
    • $2,666 /Mo
      1,000 SF

      Retail Space in Nova River District

      1,000 SF retail space in a vibrant mixed-use development.
      338 W 3Rd St, Rome, GA 30165
      View Details
    • Contact for pricing
      104,963 SF

      Mt. Berry Mall Retail Spaces

      Prime Rome, GA retail opportunity.
      2770 Martha Berry Hwy, Rome, GA 30165
      View Details
    • $5,333 /Mo
      2,000 SF

      Prime Retail Space in Rome

      2,000 SF retail space in the Nova River District.
      338 W 3Rd St, Rome, GA 30165
      View Details
    • New
      $5,000 /Mo
      32,670 SF

      River District Commercial Space

      Versatile commercial space in Rome's River District available for lease.
      252 N 5Th Ave SW, Rome, GA 30165
      View Details
    • Contact for pricing

      Freestanding Building on Shorter Avenue

      Freestanding retail building in a high-traffic location.
      618 Shorter Ave NW, Rome, GA 30165
      View Details
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    Rome, GA 30165-1944
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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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