Retail Space with Dark
For Sale
$2,750,000
819 Tiffany Blvd, Rocky Mount, NC 27804
Monarch and Eye Care occupy the property under fresh five-year lease renewals, with additional unfinished space included.
Property Size10,738 SF
Days on Market71
Property Features for 819 Tiffany Blvd
General Information
Standard status
Active
Size
10,738 SF
Property subtype
Commercial
Zoning
X
Net Operating Income
$194,012
Financials
Asking Price
$2,750,000
Cap Rate
7%
Building Details
Building Size
10,738 SF
Year Built
2001
Tenancy
Multi
Listing Agency:
KW Commercial VG Realty
Listed By:
Vandan Gandhi, CCIM · License #NC #247850
(919) 475-5769
Source:
Vgrealty
Added: Jun 24
Changed: Aug 30
Last Checked: Aug 31 at 4:03PM
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 retail property at 819 Tiffany Blvd in Rocky Mount was completed in 2001 and includes approximately 900 SF of cold dark shell space. The unfinished area provides a separate component within the existing commercial layout, while Monarch and Eye Care are identified as the current national-credit tenants.
Both tenants have executed new five-year lease renewals. The property carries a 7% cap rate, and zoning is designated X. Its address places the asset in Rocky Mount’s economic core, providing a defined commercial setting for the existing retail occupancy and additional shell space.
Both tenants have executed new five-year lease renewals. The property carries a 7% cap rate, and zoning is designated X. Its address places the asset in Rocky Mount’s economic core, providing a defined commercial setting for the existing retail occupancy and additional shell space.
Key Highlights
- Approximately 900 SF of cold dark shell space
- Monarch and Eye Care are identified as national‑credit tenants
- Both tenants have fresh 5‑year lease renewals
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
$198,635
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
7.22%
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%
$3,972,700
$4.0M
Cap Rate 7%
$2,837,643
$2.8M
Cap Rate 9%
$2,207,056
$2.2M
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
$302.8K $28.20/SF
− Vacancy
−$19.0K −$1.77/SF
EGI
$283.8K $26.43/SF
− OpEx
−$85.1K −$7.93/SF
NOI
$198.6K $18.50/SF
Area
Nash County, NC
Vacancy
6.29%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
30.00%
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%
$3,972,700
Cap Rate 7%
$2,837,643
Cap Rate 9%
$2,207,056
Alternative Uses
Best Use
Retail
$2.84M
$2.48M – $3.31M
NOI $198,635 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
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
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
677
Businesses Nearby
366k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 34%
Shops & Services 28%
Apparel 27%
Office Supplies 6%
Chick-fil-A
Dining
57,986 visits/mo
0.5 miles
Burlington
Apparel
25,668 visits/mo
0.4 miles
Dunham's Sports
Apparel
24,508 visits/mo
0.3 miles
Ross Dress for Less
Apparel
24,173 visits/mo
0.2 miles
Office Depot
Office Supplies
21,418 visits/mo
0.4 miles
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Monarch and Eye Care occupy the property under fresh five-year lease renewals, with additional unfinished space included.
Where is this retail space located?
The property is located at 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: Approximately 900 SF of cold dark shell space; Monarch and Eye Care are identified as national‑credit tenants; Both tenants have fresh 5‑year lease renewals
