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    1022 Roanoke Ave Roanoke Rapids, NC 27870

    Sponsored
    For Sale
    $350,000

    Retail - Roanoke Rapids, NC

    Type:Retail
    Property size:
    3,230 SF
    Lot size:
    0.09 Acres
    Days on Market:
    8
    Last Refresh:
    Jan 20 at 11:06 pm

    Property Features for 1022 Roanoke Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Parking features
    On Street
    Interior features
    Roof Sign, Fixtures/Furniture, Other-see Remarks, Display Window
    Size
    3,230 SF
    Lot size
    0.09 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1916
    Flooring type
    Carpet, Carpet - Full
    Building materials
    Brick, Other
    Roof type
    Asbestos Shingle, Flat, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Betty Harris

    Wilkie Real Estate,Inc. (252) 537-9012 [email protected]

    Listing agent Betty Harris (252) 537-9012

    Listing date Jan 13, 2026

    MLS# 140524 Listing URL

    Copyright © 2026 Roanoke Valley Lake Gaston Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Established Retail Business Opportunity

    The Quality Shop, a retail business established in 1904, is available for purchase in Roanoke Rapids, NC. This turnkey operation includes the real estate, fixtures, inventory, and business name. The store features a spacious retail area with three display windows at the front, five dressing rooms, and an office at the back. A small area on the second floor has been used as an office in the past. There are also two storage rooms and a half bath behind the retail area. The flat roof on the retail space is approximately 12 years old, while the flat roof on the storage area was new in 2022. The shingled roof at the front is approximately 5 years old. The property offers street parking in front, space at the back, and access to a city parking lot behind the building. The property is situated on a lot of 0.0868 acres and the building size is 3,230 square feet. The business is located in the heart of Roanoke Rapids.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quality Shop Inc Women'S Clothing Store

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    C & W's Flowers & Gifts

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke Rapids
    County
    Halifax
    State
    North Carolina
    Longitude
    -77.657195
    Latitude
    36.455216

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    FAQs

    What type of property is this?
    Storefront property - Turnkey retail business with real estate, fixtures, and inventory included.
    Where is this storefront property located?
    The property is located at 1022 Roanoke Ave Roanoke Rapids, NC.
    What is the asking price?
    The asking price for this property is $350,000.
    What are key features of this property?
    This property features: - Turnkey business opportunity: Includes real estate, fixtures, inventory, and business name.; - Established business with a long history: In continuous operation since 1904 with a strong reputation.; - Updated property: Features updated roofs (storage area roof new in 2022) and a spacious retail area.
    (252) 537-9012
    Request Owner's contact information
    1022 Roanoke Ave Roanoke Rapids, NC 27870
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    Roanoke Rapids, NC 27870
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1022 Roanoke Ave Roanoke Rapids, NC 27870
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    We can help!
    Listing Contact
    Betty Harris
    (252) 537-9012
    Learn more
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