767 Word PlzRocky Mount, NC 27804

Property Details for 767 Word Plz

Year built

2006

Lot size

1.29 AC

Property size (Sq ft)

10,842 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This fee-simple, 10,842 square-foot shopping center in Rocky Mount, NC, presents a compelling investment opportunity. The property boasts 100% occupancy across six tenants, anchored by a credit-rated Verizon Wireless, whose lease has recently been extended for five years. The center enjoys a prime location with high visibility on US Route 301, benefiting from a 36,000 ADT. Its strategic position along the I-95 corridor, just an hour from Raleigh, ensures excellent accessibility and a strong draw from a population of 56,748 within a five-mile radius. The property's convenient adjacency to popular restaurants like Chili's, Applebee's, Waffle House, and Arby's further enhances its appeal. Built in 2006, this single-story building sits on 1.29 acres and includes 69 parking spaces. The current Net Operating Income (NOI) is $252,135, resulting in a 7.78% cap rate. The asking price is $3,236,787, translating to a price per square foot of $298.54. This stabilized, Class B shopping center offers a robust and secure investment with a strong tenant mix and excellent location. The property features a Net Net Lease (NN+) structure.

Location Insight

City

Rocky Mount

County

Nash

State

North Carolina

Latitude

35.9674

Longitude

-77.8169

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