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    1300 Scott St Rocky Mount, NC 27801

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    For Sale
    $750,000

    5.72 acres with four warehouses, seller financing available.

    Property size:
    92,160 SF
    Lot size:
    5.72 Acres

    Property Features for 1300 Scott St

    General Information

    Standard status
    Active
    Size
    92,160 SF
    Lot size
    5.72 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Marguerite S Greene
    Marguerite S Greene
    Source: Corcoran

    Listing Agency: Century 21 Collective Listing Agent: Marguerite S Greene

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

    Learn more

    Overview

    Prime Land with Warehouses

    This property features 5.72 acres of graded and fenced land, offering potential for both light industrial and residential rezoning. Seller financing options are available. The site includes four unconditioned warehouses, built in 1950, totaling 92,160 square feet. Each warehouse provides 23,040 square feet of space and is equipped with covered delivery entrances. Two of the buildings have sprinkler systems, while the other two do not have fire suppression systems. The property is zoned I-1 (Light Industrial District), with surrounding properties primarily zoned R-6MFA (Multifamily Residential District) and some parcels zoned B-5 (Commercial Services District). The city's Comprehensive Plan identifies the area as a Developed Area for possible R-6MFA (Multifamily Residential District). The property is located three minutes from Downtown Rocky Mount and near several educational academies. The site is equipped with city water and sewer, and electricity is available in all buildings. Each building has its own electrical panel, with 3-phase optional. Overhead lighting is installed in each building, and the floors are constructed with 6+ inches of concrete. Fire hydrants are located on the property. The eave height is 18 feet, with a roof pitch of 1/2-12. Columns are spaced every 16'x20-25'. Two roofs are rubber, and two are metal. The middle building was taken down in approximately 1996. The property is located 7 minutes from I95 and HWY 64, offering excellent connectivity.
    Location Intelligence

    Current Use by Public Records

    Warehouses

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Rocky Mount
    County
    Nash
    State
    North Carolina
    Longitude
    -77.779948
    Latitude
    35.94821

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    FAQs

    What type of property is this?
    Warehouse - 5.72 acres with four warehouses, seller financing available.
    Where is this warehouse located?
    The property is located at 1300 Scott St Rocky Mount, NC.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: - 5.72 +/- acres of fenced and gated land with **four unconditioned warehouses totaling 92,160 sq ft**.; - Seller financing available.; - Potential for residential rezoning to R-6MFA, allowing for multifamily, single-family, and townhome development.
    (919) 219-9312
    Request Owner's contact information
    1300 Scott St Rocky Mount, NC 27801
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    Rocky Mount, NC 27801
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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
    1300 Scott St Rocky Mount, NC 27801
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    We can help!
    Listing Contact
    Marguerite S Greene
    Marguerite S Greene
    Real Estate License ID: 283390
    (919) 219-9312 (910) 233-7647 (919) 552-4517
    Learn more
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