3365 Martha Berry NW Hwy Rome, GA 30165-8653

Property Details for 3365 Martha Berry NW Hwy

Year built

1972

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

6.70 lot acres

Property size

96,887 SF

Zone code

C-C

Property type

Strip malls

Property subtype

Neighborhood centers

APN

J11Y- -243 -

APU

J11Y243

Description

This 120,754 square foot shopping center in Rome, Georgia, presents a compelling value-add investment opportunity. Anchored by a Food Lion and CVS Pharmacy, both tenants for nearly 30 years, the property boasts 11 tenants with 90.99% occupancy and a strong NOI of $575,504, yielding a 9.00% cap rate at an asking price of $6,395,000. Built in 1972 and renovated in 2016, the center sits on a 6.7-acre lot at a high-traffic, signalized intersection. The Food Lion anchor generates approximately $600 per square foot in sales, ranking among the top performers in Georgia. The property features a mix of national and local tenants, with a majority of leases structured as NNN. Significant upside potential exists through three scheduled rent bumps, low current rents, and the possibility of developing future outlot spaces. Approximately 80% of the roof is under warranty until 2036. This well-located, county seat center offers a unique blend of stability and growth potential, priced below replacement cost. The property includes 15 units and is comprised of a mix of credit term and month-to-month tenants. Financial data indicates that this Food Lion location is in the top 26% nationally and is one of the top 5 CVS locations within a 15-mile radius.

Location Insight

City

Rome

County

Floyd

State

Georgia

Longitude

-85.1737

Latitude

34.3183

CBSA code

40660

CBSA name

ROME, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments