Four-Unit
For Sale
$269,900
216 Sharpe Road, Rocky Mount, NC 27803
Residential income property with consistent two-bedroom layouts across all units.
Property Size2,376 SF
Days on Market23
Property Features for 216 Sharpe Road
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Building Details
Building Size
2,376 SF
Year Built
1987
Listing Agency:
THORNE REALTY, INC.
Listed By:
Donna Bailey · License #209292
(252) 813-2705
Source:
Dustinbennett
Added: Sep 17
Changed: Oct 1
Last Checked: Oct 7 at 4:08PM
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 THORNE REALTY, INC.
Investment Insights
Based on property information with market context.
Built in 1987, this quadplex contains four residential units, each configured with two bedrooms. The property provides a consistent unit layout within a single multifamily asset.
Located at 216 Sharpe Road in Rocky Mount, North Carolina, the property is classified as a quadplex and is offered for sale.
Located at 216 Sharpe Road in Rocky Mount, North Carolina, the property is classified as a quadplex and is offered for sale.
Key Highlights
- Four residential units in one multifamily property
- Each unit includes 2 bedrooms
- Built in 1987
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,662
Cap Rate
8.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,240
$473.2K
Cap Rate 7%
$338,029
$338.0K
Cap Rate 9%
$262,911
$262.9K
Market Conditions
NOI Build-Up for 2,376 SF
Gross rent
$36.2K $15.24/SF
− Vacancy
−$2.4K −$1.01/SF
EGI
$33.8K $14.23/SF
− OpEx
−$10.1K −$4.27/SF
NOI
$23.7K $9.96/SF
Area
Nash County, NC
Vacancy
6.65%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,240
Cap Rate 7%
$338,029
Cap Rate 9%
$262,911
Alternative Uses
Best Use
Multifamily LT 5
$338.0K
$295.8K – $394.4K
NOI $23,662 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$300.0K
$262.5K – $350.0K
NOI $21,001 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 20.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 27803, NC
20,882
Population
10,079
Households
2.1
Avg Household Size
44
Median Age
23%
College-Educated
88%
High-School Grad
41.9 sq mi
ZIP Area
498
Density / Sq Mi
$59,647
Median Household Income
$38,154
Median Earnings
$889
Median Rent
$168,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Residential income property with consistent two-bedroom layouts across all units.
Where is this quadplex located?
The property is located at 216 Sharpe Road Rocky Mount, NC.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: Four residential units in one multifamily property; Each unit includes 2 bedrooms; Built in 1987
