SunTrust building on Second Avenue in downtown Rome sells for $2.2 million — plus $110,000 transaction fee.

SunTrust building on Second Avenue in downtown Rome sells for $2.2 million — plus $110,000 transaction fee.

 

The online auction for the SunTrust Bank building at 100 E. Second Ave. ended Wednesday afternoon with a final price of $2.2 million, not counting the required 5 percent transaction fee which works out to an additional $110,000.

Ten-X Commercial Real Estate conducted the sale the past two days with interested parties paying a $10,000 participation deposit and opening bids of $1.1 million. Just prior to the closing, the bid stood at $1.8 million which did not meet the required minimum for the package. For more on the sale, please click SunTrust

Let’s look at the particulars:

  • Class C office building totaling 52,623 square feet and covering just over two acres.
  • Around 66 years old with the last major remodeling done in 1971.
  • It lists 47 percent occupancy at this time. Leasing has been handed by Jimmy Byars of Hardy Realty
  • The campus includes two buildings and features access from four downtown streets — Second Avenue to the front, First Avenue to the back and First and Second streets on either side.
  • 92 parking spots.

Floyd County tax records show the ownership was Fund IV Bob LP (c/o The Simpson Organization of Atlanta), which purchased the site in 2002 for $2,275,000. Annual property taxes are listed at $37,157. The appraised value in 2018: $2,837,399.

Share Button

Sorry, comments are closed for this post.

No announcement available or all announcement expired.