Grocery Store With Attached
For Sale
$200,000
702 Branch St, Rocky Mount, NC 27801
Combined retail and residential improvements support an owner-operator setup with additional rear structures for rehabilitation.
Property Size1,495 SF
Price / SF$133.78
Days on Market32
Property Features for 702 Branch St
General Information
Standard status
Active
Size
1,495 SF
Property Condition
Severity
Major Repairs Needed
Evidence
needs a complete Rehab
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1970
Buildings
3
Listing Agency:
Boone, Hill, Allen & Ricks
(252) 443-4148
Listed By:
Muhammad Omer · License #258813
Source:
Barefootbrokers
Added: Jul 30
Changed: Aug 28
Last Checked: Aug 29 at 12:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Boone, Hill, Allen & Ricks
Investment Insights
Based on property information with market context.
This grocery and convenience store property includes approximately 1,495 square feet of retail space and an attached house with two bedrooms and one full bathroom. The residential component can support on-site occupancy or separate rental use. Built in 1970, the property combines commercial and residential improvements in one holding.
Two additional houses are located behind the store and require complete rehabilitation. The property is situated at 702 Branch St in Rocky Mount, North Carolina, providing a mixed-use configuration centered on an operating convenience-store building and multiple residential structures.
Two additional houses are located behind the store and require complete rehabilitation. The property is situated at 702 Branch St in Rocky Mount, North Carolina, providing a mixed-use configuration centered on an operating convenience-store building and multiple residential structures.
Key Highlights
- Approximately 1,495‑square‑foot grocery and convenience store
- Attached house with 2 bedrooms and 1 full bathroom
- Two additional houses behind the store require complete rehabilitation
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,130
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$302,600
$302.6K
Cap Rate 7%
$216,143
$216.1K
Cap Rate 9%
$168,111
$168.1K
Market Conditions
NOI Build-Up for 1,495 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.5K $14.40/SF
− Vacancy
−$1.4K −$0.91/SF
EGI
$20.2K $13.49/SF
− OpEx
−$5.0K −$3.37/SF
NOI
$15.1K $10.12/SF
Area
Nash County, NC
Vacancy
6.29%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$302,600
Cap Rate 7%
$216,143
Cap Rate 9%
$168,111
Alternative Uses
Best Use
Retail
$395.1K
$345.7K – $460.9K
NOI $27,655 @ 7.0% cap · market cap 13.83%
Second Best
Specialty Retail
$216.1K
$189.1K – $252.2K
NOI $15,130 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$492.9K
$431.3K – $575.1K
NOI $34,503 @ 7.0% cap · market cap 17.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
2k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
2,381 visits/mo
0.1 miles
Demographics for 27801, NC
19,043
Population
9,162
Households
2.1
Avg Household Size
41
Median Age
15%
College-Educated
83%
High-School Grad
66.8 sq mi
ZIP Area
285
Density / Sq Mi
$41,696
Median Household Income
$32,390
Median Earnings
$850
Median Rent
$108,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Family Supermarket — 540 Cokey Rd, Rocky Mount, NC 27801
- Karims Super Market — 111 Atlantic Ave, Rocky Mount, NC 27801
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Combined retail and residential improvements support an owner-operator setup with additional rear structures for rehabilitation.
Where is this grocery and convenience store located?
The property is located at 702 Branch St Rocky Mount, NC.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Approximately 1,495‑square‑foot grocery and convenience store; Attached house with 2 bedrooms and 1 full bathroom; Two additional houses behind the store require complete rehabilitation
