For Sale
$1,850,000

1431 Broad StRome, GA 30161

High-yield retail center, strong tenant mix.

Overview

Added:
Dec 11, 2024
Days on market:
115
This 28,683-square-foot shopping center in Rome, Georgia, presents a compelling value-add opportunity. Located at 1431 N Broad St, 30161, this single-story, Class C property boasts a prominent location on a 3-acre lot. Built in 1980 and renovated in 2019, the center features 8 units, currently 75% occupied by six long-term tenants, including a Dollar Tree. The property offers 90 parking spaces and is zoned for commercial use. The current NOI is $149,911, yielding an 8.10% cap rate. However, a pro-forma analysis projects a significantly improved NOI of $194,126 and a 10.49% cap rate, reflecting the substantial upside potential. The asking price is $1,850,000 ($64.50/sq ft), making this a highly attractive investment for those seeking strong returns in a stable market. Leases are structured on a gross basis, simplifying management. This multi-tenant retail center offers a diverse tenant mix and significant potential for increased occupancy and revenue.

Highlights

  • $1,850,000 asking price for this 28,683 square foot shopping center.
  • Located at 1431 N Broad St, Rome, GA 30161, this Class C retail property offers a value-add investment opportunity.
  • The property features a multi-tenant occupancy of 75%, anchored by Dollar Tree, with a total of six tenants.
  • The property boasts a 3-acre lot with 90 parking spaces and a gross lease structure.
  • Built in 1980 and renovated in 2019, the single-story building has a current NOI of $149,911 and a pro-forma NOI of $194,126, resulting in a current cap rate of 8.10% and a pro-forma cap rate of 10.49%.
  • The property's price per square foot is $64.50.

Property Details for 1431 Broad St

Property type
Lifestyle centers, Power centers
Square Feet
28,683 SF
Class
C
Year Built/Renovated
1980/2019
Stories
1
Lot Size (sq. ft)
130,680 SF
Units
8

Location Insight

City
Rome
County
Floyd
State
Georgia
Latitude
34.264335578199
Longitude
-85.157214679117
1431 Broad St, Rome, Georgia

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1431 Broad St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message