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Property profile & analytics
FOR SALE
Distribution properties

2703 Rocky River Rd Monroe, NC 28110

3,600 SF 1.57 ac lot Built 1976
Entity Owned 9-yr Hold ~ Est. High Equity
Property ID
US53-2191583
Property summary
AI-generated overview

This exceptional 1.34-acre parcel at 2703 Rocky River Road in Monroe, NC, presents a compelling investment opportunity. Ideally situated minutes from the Monroe Bypass and just 800 feet from Highway 74, this property boasts unparalleled access to major transportation arteries, ensuring convenient connectivity throughout the region. The site benefits from readily available city water, and sewer connection is obtainable through the City of Monroe upon request. Currently zoned CC-MX1, the land offers significant development potential. The zoning allows for eight units per acre by right, with the possibility of increasing density to ten units per acre subject to meeting specific conditions. This flexibility opens the door to a variety of development scenarios, making it suitable for a range of projects. The City of Monroe expresses a preference for multi-family developments, suggesting a strong potential for this type of project. Given its prime location, convenient access to major roadways, and flexible zoning, this property represents a rare chance to acquire a highly desirable development site in a thriving area. The asking price is $750,000. Serious inquiries are encouraged.

Property profile
Verified
Property type Distribution properties
Use group BUS TERMINAL
Year built 1976
Construction WOOD
Total area 3,600 SF
Lot 1.57 ac (68,389 SF)
Zoning code GB MONROE
APN 09-336-018B
UPID US53-2191583
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Spence Electric Co Electrical Service General Contractor
  • SBS Technologies Computer & Electronic Repair
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Spence Electric Co & INC · 9 yrs held
Spence Electric Co & INC
since 2016
3 recorded transactions
2016
Price N/A
1969
Price N/A
1969
Price N/A
Zoning & alternative use
GB MONROE · Monroe, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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