819 Tiffany
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819 Tiffany
10,738 SF 100% Leased Office Building Rocky Mount, NC 27804 £2,404,500 (£224/SF) 6.01% Net Initial Yield
Investment Highlights
- Strategic Location
- Optimal Financial Performance
- Yield Value-Add Opportunity
- Impressive Rental Income
- Solid Investment
Executive Summary
Nestled in the heart of Rocky Mount, 819 Tiffany Blvd presents a prime investment opportunity in the commercial real estate landscape. This meticulously maintained property boasts an impressive array of features:
Monthly Rent: $16,132/month
Yearly Total Rent: $193,584/year
Operating Costs (Including Taxes): $13,300/year
Net Operating Income: $180,284/year
Strategically designed for optimal returns, this investment yields a solid 6% cap rate, valuing the property at $3 million.
The property also offers a value-add opportunity with approximately 900 sq. ft. of prime space, currently in its cold dark shell state. This blank canvas presents endless possibilities for customization and expansion, allowing for even greater revenue potential.
KEY TENANTS:
• Eyecare Associates - Anchoring the property, Eyecare Associates has three years remaining on their lease. They are billed separately each month for TICAM fees, ensuring streamlined operations.
• Monarch Health - Recently renewed for an additional five years, Monarch Health's lease is modified gross, with no obligations towards tax and insurance. This translates to a hassle-free, stable income stream.
Monthly Rent: $16,132/month
Yearly Total Rent: $193,584/year
Operating Costs (Including Taxes): $13,300/year
Net Operating Income: $180,284/year
Strategically designed for optimal returns, this investment yields a solid 6% cap rate, valuing the property at $3 million.
The property also offers a value-add opportunity with approximately 900 sq. ft. of prime space, currently in its cold dark shell state. This blank canvas presents endless possibilities for customization and expansion, allowing for even greater revenue potential.
KEY TENANTS:
• Eyecare Associates - Anchoring the property, Eyecare Associates has three years remaining on their lease. They are billed separately each month for TICAM fees, ensuring streamlined operations.
• Monarch Health - Recently renewed for an additional five years, Monarch Health's lease is modified gross, with no obligations towards tax and insurance. This translates to a hassle-free, stable income stream.
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
10,738 SF
Building Class
C
Year Built
2001
Price
£2,404,500
Price Per SF
£224
Net Initial Yield
6.01%
NOI
£144,498
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
10,738 SF
Building FAR
0.16
Lot Size
1.58 AC
Zoning
X
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819 Tiffany
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