Mixed-Use Property with
For Sale
$1,400,000
2129 Lawrence Circle, Rocky Mount, NC 27804
COMMERCIAL - Rocky Mount, NC
Property Size10,200 SF
Lot Size1.26 Acres
Price / SF$137.25
Days on Market373
Property Features for 2129 Lawrence Circle
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
50
Parking features
Off Street, Parking Lot
Subdivision
Not In Subdivision
Directions
Hyw 301 to Lawrence Circle
Standard status
Active
APN
3840-12-86-9102
Size
10,200 SF
Lot size
1.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
61D 1 2, Lot 1 Gorham
Tax Annual Amount
9378
Legal Description
61D 1 2, Lot 1 Gorham
Utilities
Heating system
Heat Pump (Heating), Natural Gas, Electric (Heating)
Cooling system
Heat Pump
Water source
Public
Building Details
Year built
2000
Number of units
2
Flooring type
Carpet, Tile
Building materials
Glass, Metal Siding, Brick, Steel Frame
Roof type
Metal
Listing Agency:
CENTURY 21 Champion Real Estate
(910) 455-5328
Listed By:
Royce Bennett · License #226403
(910) 389-9638
Added: Aug 12, 2025
Changed: Aug 19
Last Checked: Aug 19 at 2:06PM
MLS# 100524550
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 1.26-acre commercial property combines two buildings totaling 10,200 square feet. The larger 2129 Lawrence Circle building measures 8,100 square feet and includes assembly space, men’s and women’s restrooms, meeting rooms, and storage areas. The 2,100-square-foot 2127 Lawrence Circle building offers a 14-by-30-foot entrance foyer, a 44-by-30-foot main room, three 10-by-12-foot offices, and one restroom.
The property is currently used for a funeral home and beauty salon, with layouts that have supported multiple uses over time. Site features include 50 paved parking spaces, additional gravel parking access, and room for building expansion. Construction includes glass, metal siding, brick, and a steel frame, with carpet and tile flooring. The buildings were completed in 2000 and include heat-pump systems, natural gas, electric heating, cooling, a metal roof, and public water.
The property is currently used for a funeral home and beauty salon, with layouts that have supported multiple uses over time. Site features include 50 paved parking spaces, additional gravel parking access, and room for building expansion. Construction includes glass, metal siding, brick, and a steel frame, with carpet and tile flooring. The buildings were completed in 2000 and include heat-pump systems, natural gas, electric heating, cooling, a metal roof, and public water.
Key Highlights
- Two‑building property totals 10,200 square feet on 1.26 acres
- 8,100‑square‑foot building includes assembly space, meeting rooms, storage, and men’s and women’s restrooms
- 2,100‑square‑foot building includes foyer, main room, three offices, and one restroom
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercially zoned property with two buildings, flexible interior layouts, and public water service.
Where is this mixed-use property located?
The property is located at 2129 Lawrence Circle 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: Two‑building property totals 10,200 square feet on 1.26 acres; 8,100‑square‑foot building includes assembly space, meeting rooms, storage, and men’s and women’s restrooms; 2,100‑square‑foot building includes foyer, main room, three offices, and one restroom
