290 Old Franklin Tpke
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290 Old Franklin Tpke
14,550 SF Retail Building Rocky Mount, VA 24151 $8,177,516 CAD ($562 CAD/SF) 9.25% Cap Rate
Investment Highlights
- The property benefits from a fully guaranteed lease with over 11 years remaining from an investment grade tenant with zero landlord responsibilities.
- Rocky Mount is surrounded by scenic landscapes, including Smith Mountain Lake and the Blue Ridge Mountains.
- Ongoing and planned infrastructure projects, such as road improvements and broadband expansion, enhance connectivity and accessibility
- Rocky Mount is strategically located along the US-220 corridor in Franklin County, which provides easy access to major markets like Roanoke
- While historically reliant on agriculture and manufacturing, the economy has diversified into sectors like healthcare, education,
- Nearby institutions like University of Virginia, Virginia Tech & Ferrum College contribute to a skilled workforce and potential collaborations for res
Executive Summary
Broker of Record
Kyle Matthews
License No. 226035518 (VA)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Kyle Matthews
License No. 226035518 (VA)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$756,420
|
$51.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$756,420
|
$51.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $756,420 |
| Annual Per SF | $51.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $756,420 |
| Annual Per SF | $51.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
14,550 SF
Building Class
B
Year Built
2010
Price
$8,177,516 CAD
Price Per SF
$562 CAD
Cap Rate
9.25%
NOI
$756,540 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Land Acres
1.38 AC
Zoning
GB
Parking
43 Spaces (2.96 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signalized Intersection
- Drive Thru
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 2030007602 | Improvements Assessment | $4,972,608 CAD |
| Land Assessment | $929,912 CAD | Total Assessment | $5,902,520 CAD |
PROPERTY TAXES
Parcel Number
2030007602
Land Assessment
$929,912 CAD
Improvements Assessment
$4,972,608 CAD
Total Assessment
$5,902,520 CAD
-
Chris Naylon -
Matthews Real Estate Investment Services
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