136 3Rd StSmithfield, NC 27577

Property Details for 136 3Rd St

Year built

1938

Lot size

0.05 AC

Property size (Sq ft)

2,205 SF

Zone code

COM

Property type

Office properties

Property subtype

Office buildings

APN

15024040

APU

15024040

Description

This exceptional 2,205 square foot retail space, situated at 136 S 3rd Street in the heart of Smithfield, NC, presents a lucrative investment opportunity. Boasting a prime location adjacent to the courthouse, this property benefits from substantial daytime foot traffic generated by courthouse activity and its high visibility on S. 3rd Street, ensuring significant drive-by exposure. Currently leased with a 3-year term and renewal options, the property offers a stable income stream with a 6% cap rate. The building underwent a complete renovation in 2021, ensuring modern and attractive features for tenants. The 0.05-acre lot provides convenient access and ample nearby public parking for customers and employees. Ideal for a variety of retail or professional office uses, this property is poised for continued success and strong returns. Its central location and high visibility make it an exceptional investment opportunity in a thriving community. The property's recent renovation ensures a move-in ready condition for immediate occupancy or continued lease income. Don't miss this chance to acquire a high-performing retail space in a desirable Smithfield location.

• CAP approach

  CAP return

  Valuation

  6%

  $534,479

  6.5%

  $493,365

  7%

  $458,125

• Comparable approach

  Method

  Valuation

  Relative Method

  $583,711

  Geo Method

  $506,136

• Alternative Use

  Use

  Valuation

  Residential

  $611,773

  Hospitality

  $560,380

  Educational

  $466,230

  Medical

  $482,264

  Retail

  $725,247

Location Insight

City

Smithfield

County

Johnston

State

North Carolina

Latitude

35.5103

Longitude

-78.3469

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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