Menu Close
t r a n s l a t e

5-Tenant Retail Center | Rome, GA | $3,700,000 (8.2% Cap Rate)

707-737 Turner McCall Boulevard
Rome, GA 30165
PRICE : $3,700,000
CAP RATE: 8.2%
PROPERTY TYPE: Retail
SITE SIZE: 2.40 Acres
BUILDING SIZE: 15,000 SF
YEAR BUILT: 2007

Highlights

  • 5-unit (± 15,000 SF) retail center in the heart of Rome, GA
  • 100% occupancy with diverse tenant mixture
  • Available for sale at an 8.2% cap rate
  • Upside potential available from investors ability to increase currently below market rents as leases renew
  • Low operating expenses which are mostly reimbursed by the tenants
  • Located in the heart of the city on its main through-fare with traffic counts averaging ± 30,000 vehicles per day
  • Centrally positioned within one mile of 10 shopping centers with over of 452,000 SF combined
  • Excellent visibility and access from 3 curb cuts
  • National neighboring credit tenants within the trade area
  • Only blocks away from Rome’s Historic Downtown Business District and Floyd Medical Center
  • Within 5 miles of both Berry College and Shorter University

Description

Bull Realty is proud to offer this multi-tenant retail investment property located in the heart of Rome, Georgia. This is a historically stable asset with significant upside potential for investors to increase returns by increasing rental rates to market as leases come up for renew. This property available for sale for $3,825,000 and is being delivered to market at a 8.2% cap rate.

Built in 2007, this 100% occupied retail center has a diverse mixture of retail tenants including Firehouse Subs, Jandy's, Republic Finance, Blue Fin and O'Charley's. The tenant mixture has been historically stable and most of the tenants have been at this location for 5 years or more. Except for Blue Fin, the remaining 79% of the tenants pay rent and expenses (taxes, Insurance & CAM) on a NNN basis. Blue Fin, pays for their own utilities in addition to base rent. The tenants and landlord benefit from the center having comparatively low operating expenses are projected to total $3.11 SF in 2020. The property is also located within a Qualified Opportunity Zone which provides tax benefits for the owner and tenants.

"Rome Center" gets its name from being truly located in the heart of the Rome. It is situated less than four blocks from Floyd Medical Center and Historic Broad Street. Notably, it is also situated less than 2 miles from Berry College, Shorter College, the Harbin Clinic, Redmond Hospital, and the Rome Braves baseball stadium. Nearby retailers include Publix, Kroger, Home Depot, Ross, Marshalls and Home Depot. With excellent visibility and access from two intersecting streets, this center is frequented by both local and transient shoppers traveling through Rome's major retail corridor. The center has three curb cuts providing ingress and egress. Two of these curb cuts are situated along the over 350' of frontage along Turner McCall (US Highway 27), which has daily traffic counts averaging ±30k vehicles per day and is considered the City's major commercial corridor.

Request more information