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    Historic Office Spaces For Rent Title is generated by Realmo AI

    1701 Sunset Ave, Rocky Mount, NC 27804

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    Multiple office spaces available in a historic Rocky Mount building.

    Type:Office
    Added:
    Aug 3, 2022
    Days on Market:
    1402
    Last Refresh:
    May 12 at 9:35 pm

    Property Features for 1701 Sunset Ave

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1923

    Spaces For Lease

    at 1701 Sunset Ave Contact us

    Suite 301 $18/Mo

    Size
    1,087 SF
    Type
    Office
    Contact us

    Suite 201 C $23/Mo

    Size
    180 SF
    Type
    Office
    Open floor and fully carpeted. All utilities included except WIFI
    Contact us

    Suite 302 $18/Mo

    Size
    1,415 SF
    Type
    Office
    includes 5-6 offices, 1 conference room, 1 sink, 1 closet, and 1 back entrance.
    Contact us

    Suite 101 $18/Mo

    Size
    1,014 SF
    Type
    Office
    All utilities included except WIFI. Unit includes 4 offices, 1 closest, and 1 emergency...
    show more
    Contact us

    Suite 400 $18/Mo

    Size
    1,611 SF
    Type
    Office
    Contact us

    Suite 401 $18/Mo

    Size
    807 SF
    Type
    Office
    ncludes 2 larges offices (with windows), 1 large common hallway, and 1 storage closest....
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    Contact us

    Suite 207 $18/Mo

    Size
    1,080 SF
    Type
    Office
    Includes 4 offices, 1 closet, and an excellent view of the tar river
    Contact us

    Suite 200 $18/Mo

    Size
    1,996 SF
    Type
    Office
    Includes 7 offices, 1 reception window, 1 storage room, 1 sink, and 1 backdoor.
    Contact us

    Suite 203 $18/Mo

    Size
    400 SF
    Type
    Office
    Includes 3 small rooms, fully carpeted, all utilities included except WIFI
    Contact us

    Suite 300 $18/Mo

    Size
    2,624 SF
    Type
    Office
    Contains 11 offices, 1 reception desk, 1 breakroom, 1 closest, 1 storage room, and...
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    Contact us

    Suite 102 $18/Mo

    Size
    2,466 SF
    Type
    Office
    Unit includes 5 offices, 1 conference room, 1 reception window, 1 waiting room, 1...
    show more
    Contact us
    Show more

    We can help!

    Listing Contact
    Phillip Rabil

    Listing agent Phillip Rabil License #300470, NC

    Listing office Chambliss & Rabil

    Listing date Aug 3, 2022

    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 Chambliss & Rabil

    HighLights

    • High visibility and traffic count on Sunset Ave, Rocky Mount's busiest street.
    • Utilities included in lease.
    • Conveniently located less than half a mile from highway 301.
    • Proximity to national retail chains like Popeyes, KFC, Dunkin Doughnuts, and Panera Bread.
    • Mail packages can be delivered directly to individual units.
    • Located next door to the city lake.

    Overview

    Located in Rocky Mount, NC, this historic building offers multiple office spaces for lease. The spaces vary in size, number of offices, and additional features. Utilities are included, and packages can be mailed directly to individual units. The property benefits from high visibility and a high traffic count, situated on the busiest street in Rocky Mount, Sunset Ave. It is also located less than half a mile from highway 301 and approximately one mile from national retail outlets such as Popeyes, KFC, Dunkin' Donuts, and Panera Bread. The property is next door to the city lake.
    Property Profile Location Intelligence

    Current Use by Public Records

    Elite Credit Services Financial Advisor Chico's Mexican Restaurant Restaurant Peggy S Levin Law Firm The August Realtor, LLC Real Estate Agency Gibson T Stewart Law Firm

    Suggested Use

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

    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
    -77.8201575
    Latitude
    35.9518725

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      View Details

    FAQs

    What type of property is this?
    Office units - Multiple office spaces available in a historic Rocky Mount building.
    Where is this office units located?
    The property is located at 1701 Sunset Ave Rocky Mount, NC.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: High visibility and traffic count on Sunset Ave, Rocky Mount's busiest street.; Utilities included in lease.; Conveniently located less than half a mile from highway 301.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Phillip Rabil
    Real Estate License ID: 300470, NC
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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.

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