Available For Sale - Office

10,738 SF | Show Pricing $

LISTED BY

Vandan Gandhi CCIM
Van Gandhi - Durham Southpoint, 919-475-5769

AVAILABILITY DETAILS

Size
10,738 SF
Price/SF
Show Pricing $
Listing ID
SA529232
Notes
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.
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Vandan Gandhi CCIM, Van Gandhi - Durham Southpoint
BRE# 247850