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290 Old Franklin Tpke 14,550 SF Retail Building Rocky Mount, VA 24151 $6,629,760 CAD ($455.65 CAD/SF) 11.22% Cap Rate
Investment Highlights
- Absolute NNN lease with zero landlord responsibilities and ±9.6 years remaining.
- Strategic location along US-220 corridor with ±18,100 vehicles per day.
- Rocky Mount experiencing residential growth and major infrastructure investment.
- Corporate Walgreens lease with annual rent of $538,500 and 11.22% cap rate.
- ±14,462 SF building constructed in 2010 on a high-visibility retail corridor.
- 100% occupied single-tenant property with strong national drugstore brand.
Executive Summary
Broker of Record
Kyle Matthews
License # 226035518, 225225982 (VA)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500 Nashville, TN 37203
(866) 889-0550
Kyle Matthews
License # 226035518, 225225982 (VA)
Matthews Real Estate Investment Services, Inc
1600 West End Ave., Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,550 SF
Building Class
B
Year Built
2010
Price
$6,629,760 CAD
Price Per SF
$455.65 CAD
Cap Rate
11.22%
NOI
$743,859 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.38 AC
Zoning
GB - General Business
Parking
43 Spaces (2.97 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signalized Intersection
- Drive Thru
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 2030007602 | Improvements Assessment | $4,312,244 CAD |
| Land Assessment | $1,245,428 CAD | Total Assessment | $5,557,672 CAD |
Property Taxes
Parcel Number
2030007602
Land Assessment
$1,245,428 CAD
Improvements Assessment
$4,312,244 CAD
Total Assessment
$5,557,672 CAD
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290 Old Franklin Tpke
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