8 3Rd AveRome, GA 30161

Property Details for 8 3Rd Ave

Year built

1901

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.21 AC

Property size (Sq ft)

18,516 SF

Zone code

C-B-C

Property type

Office properties

APN

J14C- -125 -

APU

J14C125

Description

This exceptional retail property at 8 E 3rd Ave, Rome, GA 30161, presents a unique investment opportunity. The building, constructed in 1910, boasts a substantial 18,516 square feet across three stories, situated on a 9,148 square foot lot. Currently zoned C-B-C, the property offers significant upside potential. The ground floor is fully finished and currently leased; rental details are available upon request. The upper two floors are unfinished, providing a blank canvas for a visionary developer to customize to their specific needs and create additional income streams. This presents a rare chance to acquire a historic building in a desirable location with the potential for substantial returns. The property's prime location in Rome, Floyd County, Georgia, offers excellent visibility and accessibility. The building's substantial size and flexible zoning provide ample opportunity for a variety of retail uses. This is an ideal investment for an entrepreneur seeking a high-impact project with significant long-term growth potential. Don't miss this chance to acquire a piece of Rome's history and shape its future. Asking price is $1,250,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,916,215

  6.5%

  $3,614,968

  7%

  $3,356,756

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,016,071

  Geo Method

  $3,611,731

• Alternative Use

  Use

  Valuation

  Residential

  $4,482,560

  Hospitality

  $4,106,000

  Educational

  $3,416,144

  Medical

  $3,533,631

  Retail

  $5,314,002

Location Insight

City

Rome

County

Floyd

State

Georgia

Latitude

34.253

Longitude

-85.1725

CBSA code

40660

CBSA name

ROME, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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