Mixed-Use Property with
For Sale
$1,400,000
2129 Lawrence Cir, Rocky Mount, NC 27804
Two-building commercial property with flexible interior layouts, paved parking, and additional gravel parking areas.
Property Size10,200 SF
Lot Size1.26 Acres
Price / SF$137.25
Days on Market23
Property Features for 2129 Lawrence Cir
General Information
Standard status
Active
Size
10,200 SF
Total Parking Spaces
50
Lot size
1.26 Acres
Building Details
Year Built
2000
Buildings
2
Listing Agency:
CENTURY 21 Champion Real Estate
(910) 389-9638
Listed By:
Royce Bennett · License #226403
Source:
Bradberrygarnerrealestate
Added: Aug 8
Changed: Aug 30
Last Checked: Aug 30 at 3:44AM
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 CENTURY 21 Champion Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property comprises two commercial buildings totaling 10,200 square feet on 1.26 acres. The improvements date to 2000 and offer distinct layouts suited to varied business operations. The larger building at 2129 Lawrence Circle includes men’s and women’s restrooms, several meeting rooms, and storage areas. The 2127 Lawrence Circle building features a 14-by-30-foot entrance foyer, a 44-by-30-foot main room, three offices measuring 10 by 12 feet, and one restroom.
The property provides 50 paved parking spaces along with access to additional gravel parking. Its two-building configuration and available land area support continued commercial use, with room for expansion noted in the property information. The buildings have accommodated multiple uses over time, including assembly, funeral home, and beauty salon operations.
The property provides 50 paved parking spaces along with access to additional gravel parking. Its two-building configuration and available land area support continued commercial use, with room for expansion noted in the property information. The buildings have accommodated multiple uses over time, including assembly, funeral home, and beauty salon operations.
Key Highlights
- 10,200 square feet across two commercial buildings
- 1.26‑acre property with room for building expansion
- 50 paved parking spaces plus access to gravel parking
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
$89,610
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
6.40%
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%
$1,792,200
$1.8M
Cap Rate 7%
$1,280,143
$1.3M
Cap Rate 9%
$995,667
$995.7K
Market Conditions
NOI Build-Up for 10,200 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
$153.0K $15.00/SF
− Vacancy
−$9.6K −$0.94/SF
EGI
$143.4K $14.06/SF
− OpEx
−$53.8K −$5.27/SF
NOI
$89.6K $8.79/SF
Area
Nash County, NC
Vacancy
6.29%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,792,200
Cap Rate 7%
$1,280,143
Cap Rate 9%
$995,667
Alternative Uses
Best Use
Retail
$2.70M
$2.36M – $3.14M
NOI $188,683 @ 7.0% cap · market cap 13.48%
Second Best
Mixed Use
$1.28M
$1.12M – $1.49M
NOI $89,610 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$3.36M
$2.94M – $3.92M
NOI $235,403 @ 7.0% cap · market cap 16.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
354k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Superstores 25%
Shops & Services 19%
Home Improvements & Furnishings 13%
Sam's Club
Superstores
89,187 visits/mo
0.2 miles
Lowe's
Home Improvements & Furnishings
47,013 visits/mo
0.4 miles
Sam's Club Gas Station
Shops & Services
29,278 visits/mo
0.2 miles
Circle K
Shops & Services
27,876 visits/mo
0.3 miles
Bojangles' Famous Chicken 'n Biscuits
Dining
22,612 visits/mo
0.1 miles
Demographics for 27804, NC
28,707
Population
14,352
Households
2
Avg Household Size
42
Median Age
27%
College-Educated
89%
High-School Grad
43.0 sq mi
ZIP Area
668
Density / Sq Mi
$58,837
Median Household Income
$36,445
Median Earnings
$977
Median Rent
$177,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial property with flexible interior layouts, paved parking, and additional gravel parking areas.
Where is this mixed-use property located?
The property is located at 2129 Lawrence Cir Rocky Mount, NC.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 10,200 square feet across two commercial buildings; 1.26‑acre property with room for building expansion; 50 paved parking spaces plus access to gravel parking
