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Sunset Office Building Sunset Ave 11,033 SF 30% Leased Office Building Rocky Mount, NC 27804 $650,000 ($58.91/SF)
EXECUTIVE SUMMARY
Acquire this 1978 10-unit office building for $650,000 - less than half of replacement cost. Located at 3048-3094 Sunset Avenue, on 1 acre of land, this 11,033 square foot office building is being offered at just $58.91 per square foot. The high 70% vacancy provides an excellent opportunity to bring your aggressive lease up campaign and increase the current annual income of $21,816 to a projected stabilized annual income of $128,046. Based on the asking price and operating expenses of $12,541.57, the asset offers a compelling projected stabilized capitalization rate of 16.97%. Appraised in 2021 for $1,109,000
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Building Size
11,033 SF
Year Built
1978
Price
$650,000
Price Per SF
$58.91
Percent Leased
30%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
10,182 SF
Building FAR
0.25
Lot Size
1.00 AC
Parking
55 Spaces (4.99 Spaces per 1,000 SF Leased)
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Sunset Office Building | Sunset Ave
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