1505 Raleigh BlvdRocky Mount, NC 27801

Property Details for 1505 Raleigh Blvd

Year built

1986

Lot size

0.54 AC

Property size (Sq ft)

1,600 SF

Zone code

R10

Property type

Commercial real estate

APN

386031633800

APU

386031633800

Description

This exceptional retail property, located at 1505 E Raleigh Blvd in Rocky Mount, NC, presents a unique investment opportunity. The 1,600 square foot building, constructed in 1986, sits on a 0.54-acre lot and is zoned for commercial use. Currently vacant, this Class C property offers immediate potential for owner-users or investors seeking a prime retail location. The asking price is $339,000, translating to $211.88 per square foot. The property features one building, one story, and one unit. Its convenient location near Highway 64 and on the high-traffic East Raleigh Boulevard ensures excellent visibility and accessibility. The property includes one gas pump and a refrigerator unit that will convey with the sale. The surrounding area boasts a high density of residential properties, including apartments both behind and across the street, creating a strong customer base. This is an ideal opportunity to establish a thriving convenience store or grocery store business in a well-populated area. The property's size and location make it an attractive investment for both owner-operators and passive investors seeking a strong return. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $439,541

  6.5%

  $405,730

  7%

  $376,750

• Comparable approach

  Method

  Valuation

  Relative Method

  $423,554

  Geo Method

  $367,264

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $877,223

  Retail / Commercial

  $434,481

  Mixed-Use / Specialty

  $420,833

  Hospitality / Lodging

  $292,999

  Office

  $405,730

  Institutional / Educational

  $433,172

  Residential Income

  $506,811

  Multifamily

  $674,920

  Automotive / Energy

  $371,290

  Parking / Income-Based Land

  $140,082

  Restaurant / Food Service

  $193,056

  Healthcare / Senior Housing

  $443,964

Location Insight

City

Rocky Mount

County

Edgecombe

State

North Carolina

Latitude

35.9457

Longitude

-77.7715

CBSA code

40580

CBSA name

ROCKY MOUNT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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