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High Yield NNN Lease - Former Rite Aid in Rocky Mount, NC

High Yield NNN Lease - Former Rite Aid in Rocky Mount, NC

← Back to Search Results 824 W Raleigh Blvd. Rocky Mount, NC 27803

 

This is a NNN leased Rite Aid (Dark) opportunity. The property is vacant however the tenant is subject to a long term lease which began in 1999 and runs through 2026. The lease is flat in the initial term with a 15% bump in the first option, and 2.5% bumps in each subsequent option. There are four 5-year renewal options beyond the initial term. The property is well-situated on a major retail corridor surrounded by national retailers.


Comments: 

Asking Price: $1,750,000

Cap Rate: 10.75%

Net Operating Income: $188,230

Square Footage: 11,336 SF

Lot Size: 1.89 Acres

Year Built: 1999

Absolute term NNN Leased Offering

100% Fee simple interest

Zero Landlord obligations

High Yield Return

Nearby retailers include: Dollar Tree, Family Dollar, Dollar General, Food Lion, Piggly Wiggly, etc.

Demographics 1 mi. 3 mi. 5 mi.
POPULATION 8,178 32,506 56,893
AVERAGE HH INCOME $34,442 $51,307 $59,313
MEDIAN HH INCOME $32,424 $44,208 $48,203

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