Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Mixed-Use Building For Sale Title is generated by Realmo AI

    1045 N Main St, Rocky Mount, VA 24151

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    77,550 SF mixed-use building with warehouse, retail, and office space.

    Type:Industrial, Office, Retail
    Property size:
    77,550 SF
    Price / SF:
    $44/SF
    Added:
    Nov 11, 2024
    Days on Market:
    570
    Last Refresh:
    May 12 at 9:59 pm

    Property Features for 1045 N Main St

    General Information

    Standard status
    Active
    Size
    77,550 SF
    Property subtype
    Industrial, Office, Retail

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    Henry Scholz

    Listing agent Henry Scholz License #VA 0225055191

    Listing office MKB Commercial

    Listing date Nov 11, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of MKB Commercial

    HighLights

    • Large versatile building with 77,550 total square feet.
    • 24,000 square feet of warehouse space featuring tall ceilings, dock doors, and a drive‑in door.
    • M1 zoning in the Town of Rocky Mount allows for many uses.
    • Potential leaseback opportunity with Goodwill for approximately 13,288 square feet at $9.50 per square foot.
    • Additional 19,500 square feet of warehouse/production space.
    • Includes 7,600 square feet of open retail space, storage, administrative offices, training rooms, and a large employee break area.

    Overview

    This 77,550 square foot building features 24,000 square feet of warehouse space with tall ceilings, dock doors, and a drive-in door, along with an additional 19,500 square feet of warehouse or production space. The property also includes 7,600 square feet of open retail space with adjoining storage, administrative offices, training rooms, and a large employee break area. A total of four dock doors and one drive-in door are available. Located in the Town of Rocky Mount, the property is zoned M1, allowing for many uses. There is a possible outparcel opportunity. The retail store area, approximately 13,288 square feet, could be leased back to Goodwill for $9.50 per square foot, including utilities, on a three-year lease with a three-year option to renew.
    Property Profile Location Intelligence

    Current Use by Public Records

    Goodwill Rocky Mount ... Charitable Organization Goodwill Store and Donation ... Discount Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Rocky Mount
    County
    Franklin
    State
    Virginia
    Longitude
    -79.8953475
    Latitude
    37.0098027

    Nearby Similar for Sale

    • $425,000

      Versatile Mixed-Use Property in Rocky Mount

      Flexible property suitable for residential, commercial, or multi-family use.
      114 W CHURCH St, Rocky Mount, VA 24151
      View Details
    • $324,900

      Rocky Mount GB Zoned Property

      Well-maintained Rocky Mount property with detached workshop and garage.
      45 Meadow View Ave, Rocky Mount, VA 24151
      View Details
    • $439,900

      Rocky Mount Quadplex Investment Opportunity

      Quadplex in Rocky Mount, VA, ideal for investment portfolio.
      60 Sunrise RD, Rocky Mount, VA 24151
      View Details
    • $660,000
      2,853 SF

      Restaurant-Style Building on 0.78 Acres

      2,853 sq. ft. building on 0.78 acres for sale.
      20221 Virgil H Goode Hwy, Rocky Mount, VA
      View Details
    • $325,000
      3,527 SF

      Retail Building in Downtown Rocky Mount

      3,527 SF retail building with ample parking.
      190 Franklin St, Rocky Mount, VA
      View Details
    • $264,900
      24,393 SF

      Brick Triplex with Detached Garages

      Three-unit brick triplex with detached garages and good rental history.
      1715 Ball Park Road, Rocky Mount, VA 24151
      View Details
    • $985,600

      Rocky Mount Townhouses For Sale

      Recently constructed townhouses in a desirable location, great investment opportunity.
      10 Hunters Vly Ln, Rocky Mount, VA 24151
      View Details
    • $3,199,000
      16,899 SF

      Retail Property Near High-Traffic Intersection

      Retail property located near a high-traffic intersection.
      19875 Virgil H Goode Hwy, Rocky Mount, VA
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - 77,550 SF mixed-use building with warehouse, retail, and office space.
    Where is this mixed-use property located?
    The property is located at 1045 N Main St Rocky Mount, VA.
    What is the asking price?
    The asking price for this property is $3,450,000.
    What are key features of this property?
    This property features: Large versatile building with 77,550 total square feet.; 24,000 square feet of warehouse space featuring tall ceilings, dock doors, and a drive‑in door.; M1 zoning in the Town of Rocky Mount allows for many uses.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Henry Scholz
    Real Estate License ID: VA 0225055191
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1045 N Main St, Rocky Mount, VA 24151
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!