Corner-Lot Flex
For Sale
$150,000
323 Trevathan Street, Rocky Mount, NC 27804
COMMERCIAL - Rocky Mount, NC
Property Size1,500 SF
Lot Size0.26 Acres
Price / SF$100
Days on Market210
Property Features for 323 Trevathan Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-2
Parking features
On Street
Subdivision
Not In Subdivision
Lot features
Corner Lot
Directions
From Raleigh, take US-64 East toward Rocky Mount. Continue on US-64 E for approximately 55 miles. Take the exit toward Downtown Rocky Mount and merge onto Sunset Avenue. Turn right onto Falls Road, then left onto Trevathan Street. Continue to 323 Trevathan Street; property will be on the corner.
Standard status
Active
APN
3850-14-43-4319
Size
1,500 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
25 3 9, 1 LT,
Tax Annual Amount
992
Legal Description
25 3 9, 1 LT,
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1975
Flooring type
Concrete, Vinyl
Building materials
Vinyl Siding, Wood Frame
Roof type
Shingle
Listing Agency:
Foote Real Estate Group
(252) 314-8206
Listed By:
Patricia Judith Roberson · License #295899
(252) 452-6269
Added: Jan 21
Changed: Aug 19
Last Checked: Aug 19 at 2:06PM
MLS# 100550514
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 1,500-square-foot flex property occupies a 0.26-acre corner lot in Rocky Mount. The building is currently arranged for photography and woodworking, with an open interior that supports flexible commercial use. Vinyl siding, wood-frame construction, concrete and vinyl flooring, a shingle roof, and public water service are in place.
Built in 1975, the property includes forced-air natural-gas heat and central air conditioning. On-street parking serves the building, while the side yard adds usable exterior space. Its location near Rocky Mount Mills places the property close to dining, entertainment, and other commercial activity. I-2 zoning and the existing studio and shop configuration provide a practical foundation for a range of business operations.
Built in 1975, the property includes forced-air natural-gas heat and central air conditioning. On-street parking serves the building, while the side yard adds usable exterior space. Its location near Rocky Mount Mills places the property close to dining, entertainment, and other commercial activity. I-2 zoning and the existing studio and shop configuration provide a practical foundation for a range of business operations.
Key Highlights
- 1,500 SF flex building on a 0.26‑acre corner lot
- Currently configured for photography studio and woodworking shop use
- I‑2 zoning supports the property's industrial‑commercial classification
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 - I-2-zoned commercial building with an adaptable interior, side yard, and convenient access near Rocky Mount Mills.
Where is this flex space located?
The property is located at 323 Trevathan Street 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 SF flex building on a 0.26‑acre corner lot; Currently configured for photography studio and woodworking shop use; I‑2 zoning supports the property's industrial‑commercial classification
