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

    508 Fayetteville Road, Rockingham, NC 28379

    View on Map
    Claim this Listing
    For Sale
    $399,000

    Prime commercial property in Downtown Rockingham with redevelopment potential.

    Type:Commercial/Industrial
    Added:
    Apr 3, 2025
    Days on Market:
    424
    Last Refresh:
    May 28 at 8:40 am

    Property Features for 508 Fayetteville Road

    General Information

    Standard status
    Active
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1960

    We can help!

    Listing Contact
    Jill McLester
    Jill McLester

    Listing agent Jill McLester License #180210

    Listing office Pine & Palm Real Estate Group

    Listing date Apr 3, 2025

    Source Exitrealty

    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 Pine & Palm Real Estate Group

    HighLights

    • Prime commercial property in the heart of Downtown Rockingham.
    • High‑visibility location with steady traffic flow.
    • Versatile layout and solid structure suitable for redevelopment.
    • Endless possibilities for retail, office, or service shop.
    • Thriving area with strong community presence.
    • Easy access to major roads.

    Overview

    This commercial property, formerly a gas station and automotive shop, is located in Downtown Rockingham. The property offers a high-visibility location and steady traffic flow, presenting possibilities for redevelopment. The layout and structure allow for transformation into a retail storefront, modern office space, or service shop. Situated in a thriving area with a strong community presence and easy access to major roads, the property offers exposure and accessibility for customers and clients. This property is located at 508 Fayetteville Road, Rockingham, NC 28379.
    Location Intelligence

    Current Use by Public Records

    Gas stations

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Hoffman Auto Rental & Leasing — 818 E Broad Ave, Rockingham, NC 28379
    • U-Haul Neighborhood Dealer — 425 S Hancock St, Rockingham, NC 28379
    • Enterprise Rent-A-Car — 702 E Broad Ave, Rockingham, NC 28379
    • U-Haul Neighborhood Dealer — 301 E Broad Ave, Rockingham, NC 28379
    • U-Haul Neighborhood Dealer — 146 Mill Rd, Rockingham, NC 28379

    Location Insight

    • Map
    • Local Demand
    City
    Rockingham
    County
    Richmond
    State
    North Carolina
    Longitude
    -79.7691066
    Latitude
    34.9401505

    Nearby Similar for Sale

    • $1,200,000

      Rockingham Convenience Store Investment Opportunity

      High-traffic convenience store with new pumps and loyal customer base.
      824 E Broad Street, Rockingham, NC 28379
      View Details
    • $160,000
      1,840 SF

      Rockingham Duplex For Sale

      Income-producing duplex with updates, conveniently located near town amenities.
      1102 Lewis Circle, Rockingham, NC 28379
      View Details
    • $160,000
      1,840 SF

      Rockingham Duplex For Sale

      Income-producing duplex with updates, near town amenities in Rockingham, NC.
      1104 Lewis Circle, Rockingham, NC 28379
      View Details
    • $250,000
      4,110 SF

      Versatile Office Building For Sale

      Office building with flexible spaces and convenient parking.
      315 S Lawrence Street, Rockingham, NC 28379
      View Details
    • $160,000
      1,840 SF

      Rockingham Duplex For Sale

      Income-producing duplex in Rockingham, NC, with recent updates.
      1106 Lewis Drive, Rockingham, NC 28379
      View Details
    • $940,000
      11,500 SF

      Retail Space on Broad Avenue

      Retail location on Broad Avenue, Rockingham, NC for sale.
      646 E Broad Avenue, Rockingham, NC 28379
      View Details
    • $913,000
      9,000 SF

      Rockingham Retail and Warehouse Space

      9,000 SF mixed-use building in Rockingham's retail hub.
      1708 E Broad Avenue, Rockingham, NC 28379
      View Details
    • $160,000
      1,667 SF

      Rockingham Duplex For Sale

      Duplex in Rockingham, NC with tenants in place.
      107 &109 Edwards Circle, Rockingham, NC 28379
      View Details
    • $913,000
      9,000 SF

      Rockingham Retail and Warehouse Space

      9,000 SF mixed-use building in Rockingham's retail hub.
      1708 E Broad Ave, Rockingham, NC 28379
      View Details
    • $595,000
      6,000 SF

      Event Venue with Development Potential

      Two-story house on 2.31 acres, ideal for various businesses.
      710 S Caroline St, Rockingham, NC 28379
      View Details
    • $475,000

      Turnkey Farm with Event Venue

      21.93-acre farm featuring a pond, event building, and cabins.
      212 Guardian Way, Rockingham, NC 28379
      View Details

    FAQs

    What type of property is this?
    Automotive property - Prime commercial property in Downtown Rockingham with redevelopment potential.
    Where is this automotive property located?
    The property is located at 508 Fayetteville Road Rockingham, NC.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Prime commercial property in the heart of Downtown Rockingham.; High‑visibility location with steady traffic flow.; Versatile layout and solid structure suitable for redevelopment.
    (910) 206-5663
    We can help!
    Listing Contact
    Jill McLester
    Jill McLester
    Real Estate License ID: 180210
    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
    508 Fayetteville Road, Rockingham, NC 28379
    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!