Highest bid on June 5 expected to net the Rome Manufacturing multipurpose campus at 202 E. Second Ave. Elite Auctions has prepared a nearly four-minute YouTube video (click above) that showcases the downtown landmark, from executive residence to established retail. The auction is set for 11 a.m. onsite and remote bidding as well.
What to know (from Elite Auctions🙂
- Built as a clothing mill and home to Rome Manufacturing Co., it has been converted to a modern 38,000 square-foot commercial building with an executive/owner suite occupying the top floor as a private residence. Retail on the lower two floors includes The Lodge, hair salon, yoga and pilates studio as well as a law firm. “The lower two floors are currently leased and provide an annual income of approximately $160,000.” It also is home to State Mutual Insurance.
- The living area features a private elevator leading from the gated, four-car garage, it includes a two-story balcony, three bedrooms, chef’s kitchen and entertaining space. Also: the other half of the third floor is the 6,000-square-foot executive office suite.
- Expanded details.
Background:
- 1995: The building was sold to Perry Haskell and Roy Echols for $146,000.
- 2002: Mike and Ann White buy it for $320,800.
- 2008: The Whites partner with State Mutual for $2.2 million.
- Â 2011-2016: It goes through different ownerships involving the insurance company with the last listed sales prices from $1.8 million to most recently at $1.22 million, owned by State Mutual.
- The latest tax value is listed as $4.3 million with the land valued at $130,158 and the rest improvements to the campus.
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