| Hotel Conversion Opportunity: 151-key hotel (41 rooms w/ kitchenettes + 110 standard rooms) with a defined path to 151 multifamily units. |
| Cost & Timeline Advantages: Recent renovations, sprinklered systems, and in-place plumbing/electrical reduce conversion scope. |
| ~$70K All-In Basis: Illustrative acquisition and conversion basis of ~$70,000 per unit, meaningfully below new construction cost. |
| Wesleyan Blvd Corridor: On Rocky Mount’s primary commercial corridor with retail, services, and I-95 access. |
| Rocky Mount Employment Base: Anchored by Pfizer, Cummins Rocky Mount Engine Plant, Nash UNC Health, and QVC. |
| I-95 Regional Access: Direct I-95 access connecting Rocky Mount to Raleigh, Richmond, Norfolk, and Eastern NC. |
Ryan Parrish
Marcus & Millichap
