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Classified Listing

Listing ID #: 11852 Mixed-Use Property In Rocky Mount, NC


Advertiser Info

 User:  NUCAPITALAS

Member Since: Feb 2018


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For This Ad:   198

Ad Info

  • Date Posted:
  • June 8, 2018
  • Purchase Price:
  • $274,000
  • Property Type:
  • Mixed Use - Commercial, plus Residential

    Property Address:

  • Street:
  • 132 SW Main St.
  • City:
  • Rocky Mount
  • State:
  • North Carolina
  • Zip Code:
  • 27804

    Contact Info:

  • Phone:
  • (919) 846-1953

Property Description

ASKING PRICE: $274,000
OR
$254,000 with 20K down owner financing available

132 SW Main Street * Rocky Mount, NC

ARV: ≈$300,000 (from appraisal done 2 years ago; this area continues to grow and improve) This is a great opportunity for some rental income from a residence and two business fronts.

Rocky Mount Main Street - 2 Story with residence on top and commercial space below (was an Allstate Office). Top residential rent ≈1250/month. This 3 bedroom and 2.5 bath home has a master bedroom en suite. The commercial property has 2 spaces totalling ≈2750 sq ft. Front space ≈2200' with 2 baths and has rented for $1500/month. Back space ≈550' with 1 bath and has rented for $400/month
Each one has their own, separate entrance.

This property was originally purchased roughly 12 years ago and renovated to the studs with over 200K put into it's rebirth.
Property totals: bedrooms 3, bathrooms 5, square foot of house ≈2750 up and down
There is owner financing available via a Master Lease Option on this 2 story brick building. Upstairs is a rented 3/2.5
Owner is wiling to provide a master lease option with 20K as the option and assignment fee. Payments on the MLO is 2K per month.

Master Lease $2000/month
Option and Assignment Fee: 20K
Purchase Price $254,000 for 12 months
Current Mortgage is 20 year note with a 5 year balloon and into the loan for roughly 4 years. For more information please contact us and refer to AD# AC100