3365 Martha Berry HwyRome, GA 30165

Property Details for 3365 Martha Berry Hwy

Year built

1972

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

6.70 AC

Property size (Sq ft)

96,887 SF

Zone code

C-C

Property type

Retail properties

Property subtype

Strip malls

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.

• CAP approach

  CAP return

  Valuation

  6%

  $30,123,274

  6.5%

  $27,806,098

  7%

  $25,819,948

• Comparable approach

  Method

  Valuation

  Relative Method

  $39,770,440

  Geo Method

  $47,624,920

• Alternative Use

  Use

  Valuation

  Residential

  $23,455,484

  Hospitality

  $21,485,098

  Educational

  $17,875,350

  Medical

  $18,490,110

  Retail

  $27,806,098

Location Insight

City

Rome

County

Floyd

State

Georgia

Latitude

34.3183

Longitude

-85.1737

CBSA code

40660

CBSA name

ROME, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].