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290 Old Franklin Tpke

14,550 SF Retail Building Rocky Mount, VA 24151 $5,821,622 ($400/SF) 9.25% Cap Rate

Drug Stores Virginia Rocky Mount 290 Old Franklin Tpke, Rocky Mount, VA 24151

Investment Highlights

  • The property benefits from a fully guaranteed lease with over 11 years remaining from an investment grade tenant with zero landlord responsibilities.
  • Rocky Mount is surrounded by scenic landscapes, including Smith Mountain Lake and the Blue Ridge Mountains.
  • Ongoing and planned infrastructure projects, such as road improvements and broadband expansion, enhance connectivity and accessibility
  • Rocky Mount is strategically located along the US-220 corridor in Franklin County, which provides easy access to major markets like Roanoke
  • While historically reliant on agriculture and manufacturing, the economy has diversified into sectors like healthcare, education,
  • Nearby institutions like University of Virginia, Virginia Tech & Ferrum College contribute to a skilled workforce and potential collaborations for res

Executive Summary

Broker of Record
Kyle Matthews
License No. 226035518 (VA)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203

Financial Summary (Actual - 2023)

Annual Annual Per SF
Gross Rental Income $538,500 $37.01
Other Income - -
Vacancy Loss - -
Effective Gross Income $538,500 $37.01
Net Operating Income - -

Financial Summary (Actual - 2023)

Gross Rental Income
Annual $538,500
Annual Per SF $37.01
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual $538,500
Annual Per SF $37.01
Net Operating Income
Annual -
Annual Per SF -

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,550 SF
Building Class
B
Year Built
2010
Price
$5,821,622
Price Per SF
$400
Cap Rate
9.25%
NOI
$538,586
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Land Acres
1.38 AC
Zoning
GB
Parking
43 Spaces (2.96 Spaces per 1,000 SF Leased)

Amenities

  • Pylon Sign
  • Signalized Intersection
  • Drive Thru
  • Air Conditioning

Links

1 of 1

PROPERTY TAXES

Parcel Number 2030007602 Improvements Assessment $3,535,700
Land Assessment $661,200 Total Assessment $4,196,900

PROPERTY TAXES

Parcel Number
2030007602
Land Assessment
$661,200
Improvements Assessment
$3,535,700
Total Assessment
$4,196,900
(747) 877-8169

  • Listing ID: 32262800

  • Date on Market: 6/26/2024

  • Last Updated:

  • Address: 290 Old Franklin Tpke, Rocky Mount, VA 24151

More public record information on 290 Old Franklin Tpke, Rocky Mount, VA 24151

The Retail Property at 290 Old Franklin Tpke, Rocky Mount, VA 24151 is currently available For Sale. Contact Matthews Real Estate Investment Services for more information.

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290 Old Franklin Tpke
(747) 877-8169 x

290 Old Franklin Tpke

Chris Naylon

(747) 877-8169

(747) 877-8169

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