Listed by Insight Commercial Group at Realty One Group Edge
$650,000
242 North 5th Avenue SW
Details
Property Type Retail, Office
Square Footage 4,395
Net Rentable (SqFt) 4,700
Units 3
Cap Rate 8.67%
Occupancy 8.67%
Tenancy Multi
Lease Type Net
Remaining Term 3
Price per SqFt $147
Class A
Year Built 1951
Year Renovated 2020
Buildings 3
Stories 1
Acreage 0.210
Zoning UMU - Mixed Use
Parking Spaces 10 spaces
Parking per 1,000 SqFt 2.28
Ground Lease No
3 Units - Attorney's Office, Studio Apartment, Real Estate Brokerage Office
Marketing description
Outstanding mixed-use commercial building in Rome's vibrant River District, just two blocks from Broad Street. Two of Three Units Leased: Large Commercial Office to be vacant (commercial office), an attorney's office, and a residential studio apartment. Current zoning allows for continued mixed use or future redevelopment. Realty ONE Group Edge, the anchor tenant, is flexible regarding occupancy-ideal for a buyer wanting to occupy all or part of the largest unit in the building while maintaining rental income. Located in a strong demand corridor with long-term appreciation potential and surrounded by retail, dining, riverfront, and civic attractions. A rare opportunity in one of Rome's hottest districts.
Investment highlights
- Mixed-use commercial property in Rome’s River District, two blocks from Broad Street
- Three-unit configuration with commercial office and residential income
- Professional office leased at $1,300 per month
- Studio apartment leased at $900 per month
- Largest office suite occupied by Realty ONE Group Edge, with flexible occupancy arrangements as it relocates
- Strong owner-user potential with existing income from two leased units
- Opportunity to lease the largest suite for additional income or occupy it for business use
- Current zoning supports mixed-use occupancy,
- Convenient to downtown restaurants, retail, riverfront amenities, government offices, and civic destinations
- Flexible acquisition opportunity suitable for an investor, owner-occupant, or redevelopment buyer
Listing Contacts
Listed by Insight Commercial Group at Realty One Group Edge
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