Corner-Lot Flex
For Sale
$150,000
323 Trevathan St, Rocky Mount, NC 27804
Open layout supports studio, light manufacturing, office, retail, and service uses.
Property Size1,500 SF
Price / SF$100
Days on Market19
Property Features for 323 Trevathan St
General Information
Standard status
Active
Size
1,500 SF
Building Details
Year Built
1975
Listing Agency:
Foote Real Estate Group
(252) 452-6269
Listed By:
Patricia Judith Roberson · License #295899
Source:
Barefootbrokers
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 30 at 7:51PM
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 Foote Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1975, this 1,500-square-foot flex property features an open interior currently arranged for photography and woodworking. The adaptable configuration provides a practical setting for creative production, light manufacturing, retail, office, or service-oriented operations.
The building occupies a corner lot with a sizable side yard that adds outdoor utility and may support future accessory improvements such as a garage, storage shed, or expanded work area. The property also offers direct access and visibility, with Rocky Mount Mills located minutes away amid dining, entertainment, and other commercial activity.
The building occupies a corner lot with a sizable side yard that adds outdoor utility and may support future accessory improvements such as a garage, storage shed, or expanded work area. The property also offers direct access and visibility, with Rocky Mount Mills located minutes away amid dining, entertainment, and other commercial activity.
Key Highlights
- 1,500‑square‑foot flex property built in 1975
- Current photography studio and woodworking shop configuration
- Open, adaptable interior layout
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
$9,733
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
6.49%
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%
$194,660
$194.7K
Cap Rate 7%
$139,043
$139.0K
Cap Rate 9%
$108,144
$108.1K
Market Conditions
NOI Build-Up for 1,500 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
$15.1K $10.08/SF
− Vacancy
−$1.2K −$0.81/SF
EGI
$13.9K $9.27/SF
− OpEx
−$4.2K −$2.78/SF
NOI
$9.7K $6.49/SF
Area
Nash County, NC
Vacancy
8.04%
Lease Rate
$10.08 /SF/Yr
Expense Ratio
30.00%
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%
$194,660
Cap Rate 7%
$139,043
Cap Rate 9%
$108,144
Alternative Uses
Best Use
Office B
$416.1K
$364.1K – $485.4K
NOI $29,126 @ 7.0% cap · market cap 19.42%
Second Best
Industrial
$139.0K
$121.7K – $162.2K
NOI $9,733 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$494.5K
$432.7K – $577.0K
NOI $34,618 @ 7.0% cap · market cap 23.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Open layout supports studio, light manufacturing, office, retail, and service uses.
Where is this flex space located?
The property is located at 323 Trevathan St Rocky Mount, NC.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: 1,500‑square‑foot flex property built in 1975; Current photography studio and woodworking shop configuration; Open, adaptable interior layout
