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

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.

• 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

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