Strip shopping center on auction block
The sale on North Broad Street is set for March 22.
An entire strip shopping center on North Broad Street will be for sale at an auction March 22. Dempsey Auction of Rome will handle the sale of the property at 1431 N. Broad St.
The property was purchased by North Broad Street LLC in 1986 for $463,000. The land itself was most recently valued at $133,700 while the buildings on the tract were valued at $531,090.
The center will have a
large vacancy when Dollar General vacates for a new store two blocks further up the road later this spring. In fact, only three of the other nine spaces are currently occupied. Tom Lindsey, a representative with Dempsey Auction, said he believes
the North Rome corridor will be one of the next to experience real growth in Rome and anticipates the opportunity for solid commercial rental incomes is great at the location.
Lindsey said the ownership group has a lot of convenience stores and truck stops from Georgia to Texas.
“They’re just ready to sell it and move on,” Lindsey said. “It’s not going to be an absolute auction, I really wish it was, but we’re just going to put it up and see what it brings.”
Not being an absolute auction means the owners could reject the high bid if it does not meet their desired price.
“They are going to offer owner-financing,” Lindsey said.
Dempsey Auction personnel will be on site March 21 from noon until 4 p.m. for inspections of the site. Interested parties can get additional information from www. dempseyauction.com.