2521 N Church St - Warehouse FOR SALE


Rocky Mount, NC 27804
$1,437,720 USD
248-728-4896
2521 N Church St, Rocky Mount, NC for Sale
$1,437,720 USD
Warehouse - FOR SALE
1/13
null | Request Cap Rate

2521 N Church St
Rocky Mount, NC 27804


HIGHLIGHTS

  • Below Market Rents (Assumed Percentage Increase with Rent will be an increase of approximately 36% to annual rent as a single tenancy property)
  • Ability to Increase Rent P/SF w subdivision (Assumed % Increase with Rent will be an increase of approximately of 48% to annual rent with 2 tenants)
  • Close Proximity to I-95 (5.7 Miles)
  • Total Distance of 58.2 Miles to Raleigh, NC + 46.6 Miles to Wake Forest, NC
  • Ability for Tenants in Place to Service Surrounding Communities

OVERVIEW

This property displays an opportunity for an investor to purchase with below market rents in place, currently on a NN lease paying $2.57 per SF annually. Market rate per SF of nearby similar facilities is approximately $3.50 - $4.00 annually with a NNN lease. Potential purchasers will be able to cash flow the property at a cap rate of 8.56% until the end of September, with full approval by the current tenant to publicly advertise this space for lease. Another potential use for the property would be sub-division, further increasing rent p/sf by leasing space to multiple short term tenants at higher rates. Property is centrally located in the Rocky Mount-Wilson-Roanoke Rapids CSA, 7th largest metro area in NC. Within a ten-mile radius total population is +85,500, average household income of +$70,500, projected annual growth in population of +0.39% and boasting a total of 946 Million in total specified consumer spending annually. Considering current population statistics within a ten mile radius, as well as projected increases with overall economic activity this property will be a strong operating location for various services. Tenants will also be operating out of a location +/-50 minutes from the Raleigh-Durham and Greenville MSA's.

FOR SALE DETAILS

PRICE

$1,437,720 USD

PRICE/SF

$30 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

UTILITIES

-

CLEAR CEILING HT

14 Ft

DOCKS

2

DRIVE INS

1

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.3

LAND SF

143,748

ZONING

B5

APN/PARCEL ID

3861-17-01-1993

ASK ABOUT THIS PROPERTY

Alex BurksLegacy Commercial Real Estate AdvisorsMore Info
248-728-4896

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Alex BurksLegacy Commercial Real Estate AdvisorsMore Info
248-728-4896

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.