2521 N Church St - Warehouse FOR SALE


Rocky Mount, NC 27804
$1,299,999 USD
248-728-4896
2521 N Church St, Rocky Mount, NC for Sale
$1,299,999 USD
Warehouse - FOR SALE
1/14
null | 9.46% 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. Property is +/-11 Miles from future Kingsboro Business Park industrial development. This is Natron Energy’s Kingsboro Mega-Site. This new development will be creating more than 1,000 jobs in the local area. The company will be investing nearly 1.4 Billion into Edgecombe County in the foreseeable future. Tenants will also be operating out of a location +/-50 minutes from the Raleigh-Durham and Greenville MSA's.  Links to Kingsboro Mega-site https://www.commerce.nc.gov/news/press-releases/2024/08/15/governor-cooper-announces-1000-new-jobs-edgecombe-county-natron-energy-selects-kingsboro-megasite#:~:text=Natron%20Energy%2C%20Inc.%2C%20a,%241.4%20billion%20in%20Edgecombe%20County. https://edpnc.com/find-a-site/megasites/kingsboro-csx-select-megasite/ https://www.rockymounttelegram.com/news/local/kingsboro-lands-1-4b-plant-with-1-062-jobs-on-the-way/article_c5794ea2-bc9a-11ef-a4a3-7fa6f04b9f01.html BUILDING PHYSICAL COMPISITION Total Office = 20.87% (10,000 SF) Total Warehouse = 53.05% (25,424 SF) Total Storage = 26.08% (12,500 SF)

FOR SALE DETAILS

PRICE

$1,299,999 USD

PRICE/SF

$27 USD /SF

CAP RATE

9.46%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Industrial / Value-Add

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

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

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.