Freestanding Retail | Flexible B-2 Zoning | 824 W Raleigh Blvd
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Freestanding Retail | Flexible B-2 Zoning 824 W Raleigh Blvd
11,480 SF Vacant Retail Building Online Auction Sale Rocky Mount, NC 27803
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Investment Highlights
- 11,480-square-foot standalone value-add with immense visibility, ample parking and a customer drive-thru.
- 824 W Raleigh Boulevard offers multiple repositioning opportunities in an attractive location with a strong consumer base.
- Zoned B-2 Commercial Corridor District, one of the most versatile zoning designations in the city of Rocky Mount, allowing for a variety of uses.
- Located at the signalized intersection of W Haven Boulevard and W Raleigh Boulevard (NC Route 97), one of the area’s primary corridors.
- 1 mile from the Rocky Mount Train Station, 1.4 miles from US Highway 301 BYP, 2.3 miles from US Highway 64, and 5.4 miles from Interstate 95.
- Surrounded by and offering proximity to national retailers, including Dollar Tree, Dollar General, Piggly Wiggly, Hardee's, Food Lion, and more.
Executive Summary
Horvath & Tremblay, in tandem with Ten-X, is pleased to present the exclusive opportunity to purchase 824 W Raleigh Boulevard in Rocky Mount, North Carolina (the property). The vacant building was formerly occupied by Rite Aid and is improved by an 11,480-square-foot freestanding single-tenant building on a 1.89-acre corner parcel (82,328 square feet). 824 W Raleigh Boulevard is a corner parcel and is zoned B-2 Commercial Corridor District, one of the most versatile zoning designations in the city of Rocky Mount.
824 W Raleigh Boulevard is a one-story, 11,480-square-foot single-tenant building on an 82,328-square-foot (1.89-acre) corner parcel. The property has a drive-thru and offers outstanding frontage and visibility at a signalized intersection with four access points.
824 W Raleigh Boulevard offers multiple repositioning opportunities in an attractive location with a strong consumer base. A new owner can lease the building as is, subdivide it and lease it to multiple tenants, or open their own business on the property, taking advantage of the well-trafficked location. Additionally, the building can be razed, and the parcel can be developed, utilizing the strength of the lot and market to attract a new tenant. The parcel is zoned B-2 Commercial Corridor District, one of the most versatile zoning designations in the city of Rocky Mount, allowing for a variety of uses. Please contact the agent for more details.
The property, 824 W Raleigh Boulevard, is located at the signalized intersection of W Haven Boulevard and W Raleigh Boulevard (NC Route 97), one of the area’s primary commercial and commuter corridors. The property enjoys outstanding visibility and frontage and offers four points of access. The property is near major roadways, area schools, and the Rocky Mount Train Station. The location is surrounded by densely developed residential neighborhoods that provide a strong consumer base and national retailers that drive traffic to the area. 824 W Raleigh Boulevard offers the opportunity to acquire a versatile building in a strong and growing submarket.
824 W Raleigh Boulevard is a one-story, 11,480-square-foot single-tenant building on an 82,328-square-foot (1.89-acre) corner parcel. The property has a drive-thru and offers outstanding frontage and visibility at a signalized intersection with four access points.
824 W Raleigh Boulevard offers multiple repositioning opportunities in an attractive location with a strong consumer base. A new owner can lease the building as is, subdivide it and lease it to multiple tenants, or open their own business on the property, taking advantage of the well-trafficked location. Additionally, the building can be razed, and the parcel can be developed, utilizing the strength of the lot and market to attract a new tenant. The parcel is zoned B-2 Commercial Corridor District, one of the most versatile zoning designations in the city of Rocky Mount, allowing for a variety of uses. Please contact the agent for more details.
The property, 824 W Raleigh Boulevard, is located at the signalized intersection of W Haven Boulevard and W Raleigh Boulevard (NC Route 97), one of the area’s primary commercial and commuter corridors. The property enjoys outstanding visibility and frontage and offers four points of access. The property is near major roadways, area schools, and the Rocky Mount Train Station. The location is surrounded by densely developed residential neighborhoods that provide a strong consumer base and national retailers that drive traffic to the area. 824 W Raleigh Boulevard offers the opportunity to acquire a versatile building in a strong and growing submarket.
Data Room Click Here to Access
- Operating and Financial Statements
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Freestanding
Building Size
11,480 SF
Building Class
B
Year Built
1999
Percent Leased
Vacant
Building Height
1 Story
Building FAR
0.14
Lot Size
1.89 AC
Zoning
B-2 - Commercial Corridor District
Parking
67 Spaces (5.84 Spaces per 1,000 SF Leased)
Frontage
174 FT on North Carolina 97
Space Availability
- Space
- Size
- Space Use
- Position
- Available
- 1st Floor
- 11,480 SF
- Retail
- Outparcel
- Now
| Space | Size | Space Use | Position | Available |
| 1st Floor | 11,480 SF | Retail | Outparcel | Now |
1st Floor
| Size |
| 11,480 SF |
| Space Use |
| Retail |
| Position |
| Outparcel |
| Available |
| Now |
About Rocky Mount Narrative
Rocky Mount, North Carolina, is located at the juncture of several major highways and railways, including interstates 95 and 87. Historically, the city’s economy was centered around textile and manufacturing, but the area has attracted a variety of industries in recent decades. The area has access to a larger-than-average talent pool via the collective of colleges and universities, including North Carolina Wesleyan University and numerous others within a 90-minute drive. Trade, transportation, and manufacturing continue to make up a large portion of the Rocky Mount region’s workforce.
The region south of Rocky Mount’s core is a mostly suburban area with access to some of the most traveled regional thoroughfares, including State Route 301, which connects the region to the Richmond area. The region also has access to the city’s core, adjacent districts, and newly revitalized areas. Very little new retail space has been constructed in this area over the past five years, which has made retail space hard to find. Lack of available space, coupled with an uptick in demand for the region’s retail space over the past few years, has kept vacancies tight and rent gains steady. These attributes, along with the area’s affordability, should continue to positively impact the region’s retail sector.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
8,660
34,984
58,879
2020 Population
7,692
32,771
56,937
2029 Population
9,061
35,815
60,151
2024-2029 Projected Population Growth
4.6%
2.4%
2.2%
Daytime Employees
4,294
19,535
33,075
Total Businesses
304
1,967
3,497
Average Household Income
$50,538
$56,659
$64,557
Median Household Income
$31,143
$38,777
$46,218
Total Consumer Spending
$74.1M
$335.8M
$616.1M
Median Age
38.7
40.5
40.8
2024 Households
3,696
14,871
25,149
Percent College Degree or Above
12%
13%
15%
Average Home Value
$155,311
$142,625
$161,063
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 3759-09-16-7523 | Improvements Assessment | $1,920,190 |
| Land Assessment | $107,810 | Total Assessment | $2,028,000 |
PROPERTY TAXES
Parcel Number
3759-09-16-7523
Land Assessment
$107,810
Improvements Assessment
$1,920,190
Total Assessment
$2,028,000
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
John Artozqui
Contact
Ten-X Licensing:
Ten-X, LLC Samantha Corbat RE Brkr C34060. Ten-X, LLC Auction Firm 10478. NCALB Disclosure: Broker Contact is the Seller’s Real Estate Listing Agent providing real estate services only. Broker Contact is not acting as an Auctioneer.
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Freestanding Retail | Flexible B-2 Zoning | 824 W Raleigh Blvd
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