3048-3094 Sunset Ave Rocky Mount, NC 27804

Acquire this 1978 10-unit office building for $650,000 - less than half of replacement cost. Located at 3048-3094 Sunset Avenue, on 1 acre of land, this 11,033 square foot office building is being offered at just $58.91 per square foot. The high 70% vacancy provides an excellent opportunity to bring your aggressive lease up campaign and increase the current annual income of $21,816 to a projected stabilized annual income of $128,046. Based on the asking price and operating expenses of $12,541.57, the asset offers a compelling projected stabilized capitalization rate of 16.97%. Appraised in 2021 for $1,109,000