325 Franklin Street , Rocky Mount, VA 24151(Franklin County)

Take advantage of this opportunity to participate in the revitalization of Downtown Rocky Mount, the eastern gateway of The Crooked Road, Virginias Heritage Music Trail! The Morris Furniture Building, constructed in 1930, is a well-known landmark located across from the bustling Angle Hardware (established in 1887) and a few steps from the Franklin County Library and The Franklin Center. The Harvester Performance Center, which opened on April 11, and Farmers Market are a two minute walk from the property. The Franklin County Courthouse, Carilion Franklin Memorial Hospital and Welcome Center are approximately 0.2 mi. away. This high visibility property is located at the signalized intersection of Franklin Street (Rt. 40) and Claiborne Avenue. Average daily traffic count is 11,000 vehicles according to the most recent report from VDOT (2012).

The real estate is improved with a 3.5-story, 15,806 sq. ft. brick building that also has a basement. There are offices and retail space on the first floor and open spaces that were formerly used for retail sales on the third and fourth floors. The second floor has retail space, storage and a loading area. There are four restrooms and a freight elevator. Heat is oil forced air. The property has a sprinkler system and central air conditioning. It is served by public water and sewer. Parking is available behind the building, on the street and in a public parking lot with 72 spaces on Claiborne Avenue. There is a rear entrance to the property from the 27-space parking lot behind the Franklin County Public Library.

The property is zoned Central Business District which permits a wide variety of uses, including residential uses above the first floor of a business use. The current floor plan makes the property suitable for continued retail sales or easily adaptable for use as a restaurant, offices, an art gallery or other businesses on the first level. The two upper floors would make desirable residential units or storage for the street-level business or other tenants. Central Business District zoning permits a wide variety of uses, some of which include retail stores, restaurants, banks, bed and breakfasts, churches and offices. The property is located in the Arts & Cultural District for which incentives are available if the property is utilized for art or cultural purposes.

This parcel is identified as Franklin County Tax Map Parcel 2070103300. It has a current assessed value of $247,800 of which $30,000 is attributed to the land and $217,800 is attributed to improvements.

Great Investment Potential in Rocky Mount, Virginia