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Food Lion Retail Center W/ Significant Upside 3349-3365 Martha Berry Hwy NW 120,754 SF 86% Leased Retail Building Online Auction Sale Rome, GA 30165
Investment Highlights
- Significant value-creation potential with a stabilized NOI north of $600,000 bolstered by a high-sales Food Lion location.
- Food Lion anchors the complementary tenant mix that includes entertainment, dining, professional services, and other daily-needs retailers.
- Discover positive market fundamentals as the Rome MSA reported 2.8% retail vacancy rate and 1.5% YOY rent growth as of the third quarter of 2026.
- Positioned at 3349-3365 Martha Berry Hwy NW, the center benefits from prominent frontage along US Highway 27 and exposure to approximately 21,000 VPD.
- Boasting a long-term value location, only three minutes to Mounty Berry Mall, five minutes to Berry College, and 10 minutes to Downtown Rome.
- Armuchee Village Shopping Center is a grocery-anchored retail asset with 86.19% occupancy, diversified tenancy, and measurable value-add potential.
Executive Summary
ARMUCHEE VILLAGE | ROME, GA
• The subject property is a 120K SF grocery-anchored center positioned along Martha Berry Highway in Rome, GA
• Anchored by Food Lion, a long-term operator that’s been at this location for 30 Years
• Featuring a mix of entertainment, dining, professional services, and other daily-needs retailers.
• Low price per foot at $25.29/SF
• Value-add opportunity with multiple identifiable paths to increase occupancy, restore income, and improve the property
STICKY ANCHOR TENANT | RECENT RENEWAL & REMODEL
• Food Lion is a proven long-term operator with 30 years of occupancy at the property
• Food Lion also just recently exercised their next 5-year option, extending their occupancy through 2031
• Tenant reports indicate strong store sales and continued operating performance
• They just underwent a significant store remodel with more than $1.2 million invested into the location
• Recent renewal and substantial store investment provide strong evidence of Food Lion’s continued commitment to the property
• Food Lion remains the only Food Lion location in Rome, further supporting the store's established position within its trade area
CAPITAL NEEDS | CLEAR PATH TO STABILIZATION
• Roof is only 8-9 years old and is reported to be in great condition
• Parking lot needs approximately 75K in repairs, including sealcoating, striping, and asphalt work
• Water mitigation is necessary for former storage space following recent flooding
-The storage tenant has vacated due to recent flooding, but they have expressed their desire to return once improvements are completed
-Underwriting assumes $250K in repair work (Pump house improvements and contingency)
-A new lease is already underway providing their re-occupancy
-The storage tenant was previously paying $3/SF representing $100,000+ of the annual income
SIGNIFICANT VALUE-CREATION POTENTIAL
• Former storage tenant has agreed to terms to return following the completion of necessary repairs.
-They previously represented $100K+ of the annual income
-A replacement lease is already being negotiated with a structured 2–3 year rent ramp following re-occupancy
• Potential outparcel opportunity
• Vacant CVS space
-CVS recently vacated their space
-The space is highly leaseable with direct frontage at the front of the lot with excellent visibility and ingress/egress
-Large-format vacancy provides flexibility for a replacement retailer
ESTABLISHED ARMUCHEE RETAIL LOCATION | REGIONAL ROME DRAW
• Positioned along Martha Berry Highway, one of the primary north-south commercial corridors serving north Rome
• Nearby demand drivers include Berry College, Armuchee High School, and dense surrounding residential neighborhoods
• Rome serves as a regional healthcare hub for Northwest Georgia, with major healthcare institutions supporting employment and daytime population throughout the market
• The subject property is a 120K SF grocery-anchored center positioned along Martha Berry Highway in Rome, GA
• Anchored by Food Lion, a long-term operator that’s been at this location for 30 Years
• Featuring a mix of entertainment, dining, professional services, and other daily-needs retailers.
• Low price per foot at $25.29/SF
• Value-add opportunity with multiple identifiable paths to increase occupancy, restore income, and improve the property
STICKY ANCHOR TENANT | RECENT RENEWAL & REMODEL
• Food Lion is a proven long-term operator with 30 years of occupancy at the property
• Food Lion also just recently exercised their next 5-year option, extending their occupancy through 2031
• Tenant reports indicate strong store sales and continued operating performance
• They just underwent a significant store remodel with more than $1.2 million invested into the location
• Recent renewal and substantial store investment provide strong evidence of Food Lion’s continued commitment to the property
• Food Lion remains the only Food Lion location in Rome, further supporting the store's established position within its trade area
CAPITAL NEEDS | CLEAR PATH TO STABILIZATION
• Roof is only 8-9 years old and is reported to be in great condition
• Parking lot needs approximately 75K in repairs, including sealcoating, striping, and asphalt work
• Water mitigation is necessary for former storage space following recent flooding
-The storage tenant has vacated due to recent flooding, but they have expressed their desire to return once improvements are completed
-Underwriting assumes $250K in repair work (Pump house improvements and contingency)
-A new lease is already underway providing their re-occupancy
-The storage tenant was previously paying $3/SF representing $100,000+ of the annual income
SIGNIFICANT VALUE-CREATION POTENTIAL
• Former storage tenant has agreed to terms to return following the completion of necessary repairs.
-They previously represented $100K+ of the annual income
-A replacement lease is already being negotiated with a structured 2–3 year rent ramp following re-occupancy
• Potential outparcel opportunity
• Vacant CVS space
-CVS recently vacated their space
-The space is highly leaseable with direct frontage at the front of the lot with excellent visibility and ingress/egress
-Large-format vacancy provides flexibility for a replacement retailer
ESTABLISHED ARMUCHEE RETAIL LOCATION | REGIONAL ROME DRAW
• Positioned along Martha Berry Highway, one of the primary north-south commercial corridors serving north Rome
• Nearby demand drivers include Berry College, Armuchee High School, and dense surrounding residential neighborhoods
• Rome serves as a regional healthcare hub for Northwest Georgia, with major healthcare institutions supporting employment and daytime population throughout the market
Data Room Click Here to Access
- Survey
- Operating and Financials
- Purchase Agreement
- Third Party Reports
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront
Building Size
120,754 SF
Building Class
C
Year Built/Renovated
1996/2007
Percent Leased
86%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
4 Exterior
Building FAR
0.26
Lot Size
10.48 AC
Parcel Number
J11Y-243
Zoning
CC - Community Commercial
Parking
456 Spaces (7 Spaces per 1,000 SF Leased)
Frontage
631’ on Martha Berry Hwy
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
20/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
2,421
10,600
43,459
2020 Population
2,420
10,435
42,174
2030 Population
2,480
10,895
44,798
2025-2030 Projected Population Growth
2.4%
2.8%
3.1%
Daytime Employees
660
6,058
29,782
Total Businesses
89
792
3,430
Average Household Income
$93,452
$86,655
$81,469
Median Household Income
$73,249
$66,952
$60,458
Total Consumer Spending
$29.1M
$113.2M
$436.9M
Median Age
38.6
35.4
35.5
2025 Households
893
3,829
15,837
Percent College Degree or Above
19%
17%
12%
Average Home Value
$256,842
$263,499
$250,160
Nearby Major Retailers
Sale Advisors
Sale Advisors
Zach Taylor, Senior Managing Director Investments
Zach Taylor is a Senior Managing Director at Institutional Property Advisors (IPA), a wholly owned division of Marcus and Millichap focusing on best of class clients. With more than 20 years of experience in commercial real estate, his primary focus is on shopping center sales in throughout the southeastern United States. During his career, Mr. Taylor has closed on the sale of over 250 shopping centers totaling than 15 million square feet and valued at more than $1.5 billion. He has been the top broker nationally for shopping center sales and in the southeast among all product types.
Zach is also a founding member and principal of the Taylor McMinn Retail Group of Marcus & Millichap. Taylor McMinn is a nationally recognized, industry leading investment sales team that specializes in the disposition of shopping centers and net leased properties across the United States. The team has sold over 1,000 deals in 40 states worth over $2 billion and is proud to work with some of the top real estate firms in the nation. As a result of its experience and track record Taylor-McMinn has established a brand committed to providing the highest level of personalized service to our clients while embracing a philosophy of transparency, tenacity, and integrity.
Mr. Taylor attended the Clemson University where he earned a BA in History with a minor in Communications.
Zach is also a founding member and principal of the Taylor McMinn Retail Group of Marcus & Millichap. Taylor McMinn is a nationally recognized, industry leading investment sales team that specializes in the disposition of shopping centers and net leased properties across the United States. The team has sold over 1,000 deals in 40 states worth over $2 billion and is proud to work with some of the top real estate firms in the nation. As a result of its experience and track record Taylor-McMinn has established a brand committed to providing the highest level of personalized service to our clients while embracing a philosophy of transparency, tenacity, and integrity.
Mr. Taylor attended the Clemson University where he earned a BA in History with a minor in Communications.
Bradd Caplan, Managing Director Investments, Auction Services
Bradd Caplan is a Managing Director Investments, Auction Services, in Marcus & Millichap's Baltimore office, specializing in asset dispositions through an auction/accelerated marketing format. He advises institutional and private clients throughout the Mid-Atlantic, leveraging digital auction platforms to maximize exposure, generate competitive bidding, and achieve optimal pricing.
With more than 20 years of industry experience and over $2 billion in completed transactions, Bradd is recognized for executing complex dispositions and building long-term relationships with brokers, investors, lenders, and ownership groups.
With more than 20 years of industry experience and over $2 billion in completed transactions, Bradd is recognized for executing complex dispositions and building long-term relationships with brokers, investors, lenders, and ownership groups.
Eric Abbott, Associate
Eric Abbott is an associate member of the Taylor McMinn Retail Group of Marcus & Millichap. The Taylor McMinn Retail Group is a nationally recognized, industry leading investment sales team that specializes in the disposition of net-lease and shopping center properties across the United States. Recently the team has sold over 550 deals in 35 states worth of $1.5 billion and is proud to work with some of the top real estate firms in the nation.
Eric is an investment sales specialist advising clients in the acquisition and disposition of Multi-Tenant retail properties. Primarily focused on the southeast markets, Eric and his team work with a wide range of clients from private capital to institutional clients. Extensive transaction experience and comprehensive knowledge of the industry has helped Eric form strong relationships with his clients. By providing unwavering commitment, Eric is able to meet his client’s needs and long-term financial objectives within the investment sales space.
Eric is an investment sales specialist advising clients in the acquisition and disposition of Multi-Tenant retail properties. Primarily focused on the southeast markets, Eric and his team work with a wide range of clients from private capital to institutional clients. Extensive transaction experience and comprehensive knowledge of the industry has helped Eric form strong relationships with his clients. By providing unwavering commitment, Eric is able to meet his client’s needs and long-term financial objectives within the investment sales space.
About the Auction Technology
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Pace Zambito
Contact
Auctioneer License:
Ten-X Commercial, LLC Jessica Anne Figueroa RE Brkr 75044. Ten-X Commercial, LLC Arlene Richardson Auction Firm AU003185
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Food Lion Retail Center W/ Significant Upside | 3349-3365 Martha Berry Hwy NW
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