3590 Sunset Ave Rocky Mount, NC 27804-3408

Property Details for 3590 Sunset Ave

Year built

2003

Construction

BRICK

Lot size

1.38 lot acres

Property size

14,364 SF

Zone code

B2

Property type

Retail space

APN

384005-07-5698

APU

384005075698

Description

This exceptional investment opportunity presents a fee-simple, single-tenant Walgreens property located at 3590 Sunset Ave, Rocky Mount, NC 27804. The 13,824 square foot building sits on a 1.6-acre lot with 70 parking spaces and benefits from a prominent, signalized hard-corner location boasting over 44,000 vehicles per day. The property is situated conveniently between I-95 and Highway 301, offering excellent regional access. The Walgreens lease is an absolute NNN, providing significant investor protection, with a corporate guarantee and a remaining term of 4.5 years. The lease commenced on May 5, 2004, and includes three 5-year options, with rent bumps of 5% in option 2 and $0.50 per square foot increases in options 3 and 4. The current lease expiration is May 4, 2029. The property's strong financials include a $4,000,000 asking price, a 7.00% cap rate, and a net operating income (NOI) of $280,125. The building, constructed in 2004, is zoned B1. The property's strategic location is further enhanced by its proximity to a Harris Teeter-anchored shopping center and UNC Health-backed Nash General Hospital, a major employer in the area. This investment offers a compelling combination of strong tenant, long-term lease, and excellent location in a growing market.

Location Insight

City

Rocky Mount

County

Nash

State

North Carolina

Longitude

-77.8488

Latitude

35.9642

CBSA code

40580

CBSA name

ROCKY MOUNT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments