500 E Elm St
Rockmart, GA 30153
SunTrust Plaza · Office Property For Sale

SunTrust Plaza is freestanding, multi-tenant, office building located at 500 East Elm Street in Rockmart, GA. The Property presents an opportunity to acquire a ±56% occupied asset anchored by SunTrust with value-add opportunities through lease up of the remaining office space at long term market rates. The property is located on a corner parcel with approximately ±3.74 acres and consists of one two-story, Class B, office building with a total of ±16,661 SF (±16,331 GLA). The building was built in 1982 and is currently ±56% occupied by 2 tenants with SunTrust Bank serving as the building’s anchor tenant on a long-term lease through 2023. This opportunity presents huge value-add through lease-up of the available ±6,137 SF at market rates. This is one of the nicest building in downtown Rockmart, and benefits from fantastic visibility, along with ample parking for customers and tenants. SunTrust Bank, one of the nation’s largest and strongest financial holding companies, currently occupies ±7,519 SF (±46% of the building). The SunTrust Bank in Rockmart is by far the most used bank in the entire city of Rockmart and zip code 30153 with nearly ±49.21% of the market share compared to other banks. From June 30, 2016 to June 30, 2017, the SunTrust has ±$59,896,000 in deposits compared to only ±$31,109,000 at the second most popular bank branch in the area. With SunTrust occupying ±½ of the building and recently signing an extension thru 2023, it provides buyers a constant cash flow while other tenants can be procured. Located within Polk County in the heart of the Coosa Valley area of Northwest Georgia, Rockmart is situated in a triangle formed by Atlanta, Georgia; Birmingham, Alabama; and Chattanooga, Tennessee. The property is extremely well-located near the Rockmart CBD and is centrally located along Elm Street. The site is proximate to all downtown Rockmart destinations and offers convenient access to Highway 278. The Property offers excellent ingress/egress with multiple access points. Additionally, the Property is located in a residential on a commercial thoroughfare and in 2018 has approximately ±14,087 individuals residing within a five-mile radius of the property and an average household income of ±$56,036. In 2018, the total specified consumer spending within a 5-mile radius of the Property accounts for ±$119,613,000 and there are ±420 businesses and ±4,349 employees. Rockmart has a far reach that extends to the northwest corner of the Atlanta MSA within 20 drive time minutes that contains 69,819 people within that radius. Rockmart’s location in the heart of the Atlanta-Chattanooga-Birmingham (ABC) Triangle makes it an ideal location for any distribution company to ship product to major cities in the southeast. This Property offers excellent upside potential for investors and/or owner occupants. As a whole, this is a great opportunity to acquire an office building located near downtown Rockmart, with a strong anchored tenant, and well below replacement cost.