B-2 Restaurant
For Sale
$369,000
1505 E Raleigh Boulevard, Rocky Mount, NC 27801
Commercial Sale, Rocky Mount, NC
Property Size2,260 SF
Lot Size0.54 Acres
Price / SF$163.27
Days on Market294
Property Features for 1505 E Raleigh Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B-2
Subdivision
Not In Subdivision
Directions
Take US-64E / US-264 E to Rocky Mount / Wilson / Greenville.Continue to 1-87/ US-64E / US 264 E for 10 miles. Continue to US-64E for 42 Miles.Take Exit 472 to US-64 Business to US-64ALT/NC-43 S/ Rocky Mount. Turn right onto US-64 BUS W/E Raleigh Blvd. Destination will be on the left.
Standard status
Active
APN
386031633800
Size
2,260 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Pettaway LD
Tax Annual Amount
1927
Legal Description
Pettaway LD
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1986
Listing Agency:
Compass Carolinas LLC
(919) 726-6548
Listed By:
Marianne Mansour · License #285588
(919) 696-7218
Added: Nov 1, 2025
Changed: Aug 19
Last Checked: Aug 21 at 12:06AM
MLS# 100539223
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This conventional restaurant property includes a 2,260-square-foot commercial building on a 0.54-acre parcel. Constructed in 1986, the building is served by electric heating and is positioned for continued restaurant use within a B-2 zoning district.
The property fronts a busy roadway with reported daily traffic of 10,000 - 19,000 vehicles per day. Its location provides proximity to US-64 and I-95, while East Raleigh Boulevard offers direct access to downtown Rocky Mount. Apartment communities and residential neighborhoods surround the site, with portions of that housing base within walking distance.
The parcel combines an existing commercial improvement with additional land area, supporting consideration of future site expansion subject to applicable approvals.
The property fronts a busy roadway with reported daily traffic of 10,000 - 19,000 vehicles per day. Its location provides proximity to US-64 and I-95, while East Raleigh Boulevard offers direct access to downtown Rocky Mount. Apartment communities and residential neighborhoods surround the site, with portions of that housing base within walking distance.
The parcel combines an existing commercial improvement with additional land area, supporting consideration of future site expansion subject to applicable approvals.
Key Highlights
- 2,260‑square‑foot restaurant building on a 0.54‑acre parcel
- B‑2 zoning supports the property's commercial restaurant classification
- Reported daily traffic ranges from 10,000 - 19,000 vehicles per day
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,873
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$457,460
$457.5K
Cap Rate 7%
$326,757
$326.8K
Cap Rate 9%
$254,144
$254.1K
Market Conditions
NOI Build-Up for 2,260 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.5K $14.40/SF
− Vacancy
−$2.0K −$0.91/SF
EGI
$30.5K $13.49/SF
− OpEx
−$7.6K −$3.37/SF
NOI
$22.9K $10.12/SF
Area
Nash County, NC
Vacancy
6.29%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$457,460
Cap Rate 7%
$326,757
Cap Rate 9%
$254,144
Alternative Uses
Best Use
Retail
$597.2K
$522.6K – $696.8K
NOI $41,806 @ 7.0% cap · market cap 11.33%
Second Best
Specialty Retail
$326.8K
$285.9K – $381.2K
NOI $22,873 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$745.1K
$652.0K – $869.3K
NOI $52,158 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
19,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
128
Businesses Nearby
85k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 48%
Bojangles' Famous Chicken 'n Biscuits
Dining
16,425 visits/mo
0.5 miles
McDonald's
Dining
12,985 visits/mo
0.2 miles
Roses Discount Store
Shops & Services
9,468 visits/mo
0.1 miles
Hardee's
Dining
9,174 visits/mo
0.2 miles
Exxon
Shops & Services
8,939 visits/mo
0.2 miles
Demographics for 27801, NC
19,043
Population
9,162
Households
2.1
Avg Household Size
41
Median Age
15%
College-Educated
83%
High-School Grad
66.8 sq mi
ZIP Area
285
Density / Sq Mi
$41,696
Median Household Income
$32,390
Median Earnings
$850
Median Rent
$108,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - B-2-zoned commercial site near US-64 and I-95, surrounded by established residential communities.
Where is this conventional restaurant located?
The property is located at 1505 E Raleigh Boulevard Rocky Mount, NC.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: 2,260‑square‑foot restaurant building on a 0.54‑acre parcel; B‑2 zoning supports the property's commercial restaurant classification; Reported daily traffic ranges from 10,000 - 19,000 vehicles per day
