203 8Th StRome, GA 30161

Property Details for 203 8Th St

Year built

1901

Construction

WOOD FRAME

Property size (Sq ft)

2,133 SF

Zone code

M-R

Property type

Retail properties

Property subtype

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.

• CAP approach

  CAP return

  Valuation

  6%

  $663,174

  6.5%

  $612,161

  7%

  $568,435

• Comparable approach

  Method

  Valuation

  Relative Method

  $875,560

  Geo Method

  $1,048,479

• Alternative Use

  Use

  Valuation

  Residential

  $516,380

  Hospitality

  $473,002

  Educational

  $393,532

  Medical

  $407,066

  Retail

  $612,161

Location Insight

City

Rome

County

Floyd

State

Georgia

Latitude

34.2435

Longitude

-85.1643

CBSA code

40660

CBSA name

ROME, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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