Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Commercial Land Opportunity Title is generated by Realmo AI

    317 Summitt Ave Old Farm Rd, Roanoke Rapids, NC 27870

    View on Map
    Claim this Listing
    For Sale
    $175,000

    COMMERCIAL - Roanoke Rapids, NC

    Lot size:
    0.56 Acres
    Added:
    Jan 22, 2026
    Days on Market:
    120
    Last Refresh:
    May 22 at 11:06 am

    Property Features for 317 Summitt Ave Old Farm Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    Lot size
    0.56 Acres

    Building Details

    Year built
    2026

    We can help!

    Listing Contact
    Vickie Irby
    Vickie Irby

    Listing agent Vickie Irby License #286837

    Listing office Coldwell Banker Advantage-Littleton 2391 Eaton Ferry Road, Littleton, NC

    Listing date Jan 22, 2026

    MLS# 140557

    Copyright © 2026 Roanoke Valley Lake Gaston Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime commercial location with exceptional visibility and high traffic.
    • Conveniently located within one mile of I‑95 and close to Halifax Regional Medical Center.
    • Surrounded by a strong mix of established businesses, medical practices, and major retailers.
    • Easy access to I‑95, Highway 158, and Highway 125.
    • New development underway nearby, including a new 7‑11 gas station.
    • Adjoining commercial parcels are available for potential expansion.

    Overview

    This commercial property is situated on Old Farm Road Extension in Roanoke Rapids, offering visibility and traffic. It is located within one mile of I-95 and less than half a mile from Halifax Regional Medical Center. The site is surrounded by established businesses and services, including medical practices such as adult medicine, orthopedic surgery, express care, surgical associates, dialysis, and dental offices. Major retailers like Walmart, Starbucks, and Belk are also nearby. Numerous restaurants are located within a one-mile radius, including Ruby Tuesday, Logan's, Don Juan, Saki Sushi, and Cracker Barrel. Additional neighboring establishments include a veterinary hospital, fitness centers, a Social Security office, law firms, and the fire department. New development is underway nearby, including a new 7-11 gas station. This corridor offers access to I-95, Highway 158, and Highway 125. The property address fronts Summit Drive and extends through to Old Farm Road. Two small homes are located on the property and are considered to have no value, as the property is being sold strictly for commercial use. Adjoining commercial parcels are also available, offering potential for expansion. The lot size is 0.5579 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Roanoke Rapids
    County
    Halifax
    State
    North Carolina
    Longitude
    -77.6393517
    Latitude
    36.4302424

    Nearby Similar for Sale

    • $625,000
      7,200 SF

      Versatile Commercial Property on 6+ Acres

      Prime commercial property with unmatched visibility and direct access.
      1652 Nc Hwy 125, Roanoke Rapids, NC 27870
      View Details
    • $199,900
      5,775 SF

      Roanoke Rapids Investment Property

      Commercial building with five units and parking lot.
      15 E 11th Street, Roanoke Rapids, NC 27870
      View Details
    • $45,000
      3,336 SF

      Historic Commercial Building on Roanoke

      3,336 SF historic building with live/work potential.
      232 Roanoke Avenue, Roanoke Rapids, NC 27870
      View Details
    • $295,000
      1,500 SF

      Roanoke Rapids Duplex Investment Opportunity

      Two side-by-side duplexes with income potential in Roanoke Rapids.
      1203 W 10th Street, Roanoke Rapids, NC 27870
      View Details
    • $299,999

      Prime Commercial Land Opportunity

      1.7 acres of high-visibility land in Roanoke Rapids, NC.
      1611 E 10th Street, Roanoke Rapids, NC 27870
      View Details
    • $299,999

      Prime Commercial Land Opportunity

      1.7 acres of high-visibility land in Roanoke Rapids, NC.
      1611 E 10th Street, Roanoke Rapids, NC 27870
      View Details
    • $625,000

      Prime Commercial Land with Visibility

      6+ acres with unmatched visibility, ideal for various commercial ventures.
      1652 NC Highway 125, Roanoke Rapids, NC 27870
      View Details
    • $525,000

      Commercial Lot Near Carolina Crossroads

      Commercial lot suitable for restaurant, hotel, or other businesses.
      Carolina Crossroads lot: 9, Roanoke Rapids, NC 27870
      View Details
    • $525,000

      Commercial Lot in Roanoke Rapids

      Commercial land suitable for restaurant, hotel, or other businesses.
      Carolina Crossroads Pkwy lot: 9, Roanoke Rapids, NC 27870
      View Details
    • $295,000
      1,500 SF

      Roanoke Rapids Duplex Investment Opportunity

      Two side-by-side duplexes with strong rental income potential.
      1203 W 10th Street, Roanoke Rapids, NC 27870
      View Details
    • $415,000

      Roanoke Rapids Commercial Property ForSale

      Commercial property in Roanoke Rapids, North Carolina, available for sale.
      1503 W 10th Street, Roanoke Rapids, NC 27870
      View Details
    • $349,500
      1,689 SF

      Roanoke Rapids Commercial Opportunity

      Large parcel suitable for commercial conversion near I-95.
      1448 NC Highway 125, Roanoke Rapids, NC 27870
      View Details

    FAQs

    What type of property is this?
    Commercial land - Highly visible commercial property near I-95 and Halifax Regional Medical Center.
    Where is this commercial land located?
    The property is located at 317 Summitt Ave Old Farm Rd Roanoke Rapids, NC.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Prime commercial location with exceptional visibility and high traffic.; Conveniently located within one mile of I‑95 and close to Halifax Regional Medical Center.; Surrounded by a strong mix of established businesses, medical practices, and major retailers.
    (252) 532-9194
    We can help!
    Listing Contact
    Vickie Irby
    Vickie Irby
    Real Estate License ID: 286837
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    317 Summitt Ave (Old Farm Rd), Roanoke Rapids, NC 27870
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!