High-Performing Retail Asset in Rocky
For Sale
Contact for pricing
809 & 819 Tiffany Blvd, Rocky Mount, NC 27804
Stabilized retail asset with national tenants and value-add potential.
Property Size10,738 SF
Price / SF$256.10
Days on Market195
Property Features for 809 & 819 Tiffany Blvd
General Information
Standard status
Active
Size
10,738 SF
Class
C
Property subtype
Office, Retail
Zoning
X
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$194,012
Building Details
Year Built
2001
Buildings
1
Stories
1
Listing Agency:
KW Commercial VG Realty
(919) 475-5769
Listed By:
Vandan Gandhi · License #NC #247850
Source:
Crexi
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 7 at 10:27AM
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 KW Commercial VG Realty
Investment Insights
Based on property information with market context.
This stabilized retail asset is located in the economic core of Rocky Mount. The property is backed by national-credit tenants Monarch and Eye Care, both secured with 5-year lease renewals. The property offers a 7.0% cap rate with an NOI of $194,012. The investment is offered at $2.75M. The property provides cash flow and in-place performance. The property features a 900 SF cold dark shell positioned for value-add and income expansion. The property size is 10738 SF.
Key Highlights
- High‑performing retail asset with a 7.0% cap rate and $194,012 NOI, offering immediate and reliable cash flow.
- Secured by national‑credit tenants (Monarch and Eye Care) with fresh 5‑year lease renewals, ensuring stability.
- Value‑add opportunity with a 900 SF cold dark shell for income expansion.
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
$208,505
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
7.58%
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%
$4,170,100
$4.2M
Cap Rate 7%
$2,978,643
$3.0M
Cap Rate 9%
$2,316,722
$2.3M
Market Conditions
NOI Build-Up for 10,738 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
$322.1K $30.00/SF
− Vacancy
−$44.1K −$4.11/SF
EGI
$278.0K $25.89/SF
− OpEx
−$69.5K −$6.47/SF
NOI
$208.5K $19.42/SF
Area
Nash County, NC
Vacancy
13.70%
Lease Rate
$30.00 /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%
$4,170,100
Cap Rate 7%
$2,978,643
Cap Rate 9%
$2,316,722
Alternative Uses
Best Use
Office B
$2.98M
$2.61M – $3.48M
NOI $208,505 @ 7.0% cap · market cap 7.58%
Second Best
Retail
$2.84M
$2.48M – $3.31M
NOI $198,635 @ 7.0% cap · market cap 7.22%
Theoretical Best
Office A
$3.54M
$3.10M – $4.13M
NOI $247,820 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
Explore this area
Business Placement
Demographics for 27804, NC
28,707
Population
14,352
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
89%
High-School Grad
43.0 sq mi
ZIP Area
668
Density / Sq Mi
$58,837
Median Household Income
$36,445
Median Earnings
$977
Median Rent
$177,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Stabilized retail asset with national tenants and value-add potential.
Where is this retail space located?
The property is located at 809 & 819 Tiffany Blvd Rocky Mount, NC.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: High‑performing retail asset with a 7.0% cap rate and $194,012 NOI, offering immediate and reliable cash flow.; Secured by national‑credit tenants (Monarch and Eye Care) with fresh 5‑year lease renewals, ensuring stability.; Value‑add opportunity with a 900 SF cold dark shell for income expansion.
