12-Unit Apartment
For Sale
$942,000
514 Cascade, Rocky Mount, NC 27803
Two apartment buildings include rent-ready vacancies, individually metered electricity, and shared asphalt parking.
Property Size8,641 SF
Price / SF$109.02
Days on Market51
Property Features for 514 Cascade
General Information
Standard status
Active
Size
8,641 SF
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
514 F has a small area of damage floor in front of the sink
Units
Unit Mix
12 x 2BR/1BA
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$6,220
Building Details
Year Built
1976
Buildings
2
Listing Agency:
BRADDOCK REALTY
(888) 731-1710
Listed By:
BENJAMIN DAVID RIEGEL · License #363368
(252) 969-0699
Source:
Corcoran
Added: Sep 10
Changed: Oct 27
Last Checked: Oct 28 at 9:04AM
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 BRADDOCK REALTY
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Investment Insights
Based on property information with market context.
This 8,641-square-foot multifamily property comprises two apartment buildings at 514 and 520 Cascade Ave in Rocky Mount. The 12-unit configuration includes exclusively two-bedroom, one-bath residences equipped with ceiling-register Mini-Split systems. The buildings were constructed in 1976 and use a shared asphalt parking area.
Eight apartments are occupied and four are vacant. Electrical service is separately metered, with residents paying the provider directly; water is commonly metered and billed by ownership according to usage. Vacant residences are prepared for occupancy. One unit, 514 F, has a small damaged floor area near the sink.
Eight apartments are occupied and four are vacant. Electrical service is separately metered, with residents paying the provider directly; water is commonly metered and billed by ownership according to usage. Vacant residences are prepared for occupancy. One unit, 514 F, has a small damaged floor area near the sink.
Key Highlights
- Two buildings totaling 12 units at 514 and 520 Cascade Ave
- All units are 2‑bed/1‑bath with ceiling‑register Mini‑Splits
- 8 units occupied and 4 vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,375
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,527,500
$1.5M
Cap Rate 7%
$1,091,071
$1.1M
Cap Rate 9%
$848,611
$848.6K
Market Conditions
NOI Build-Up for 8,641 SF
Gross rent
$149.3K $17.28/SF
− Vacancy
−$10.5K −$1.21/SF
EGI
$138.9K $16.07/SF
− OpEx
−$62.5K −$7.23/SF
NOI
$76.4K $8.84/SF
Area
Nash County, NC
Vacancy
7.00%
Lease Rate
$17.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,527,500
Cap Rate 7%
$1,091,071
Cap Rate 9%
$848,611
Alternative Uses
Best Use
Apartment 5plus
$1.09M
$954.7K – $1.27M
NOI $76,375 @ 7.0% cap · market cap 8.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,424 @ 7.0% cap · market cap 21.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two apartment buildings include rent-ready vacancies, individually metered electricity, and shared asphalt parking.
Where is this apartment building located?
The property is located at 514 Cascade Rocky Mount, NC.
What is the asking price?
The asking price for this property is $942,000.
What are key features of this property?
This property features: Two buildings totaling 12 units at 514 and 520 Cascade Ave; All units are 2‑bed/1‑bath with ceiling‑register Mini‑Splits; 8 units occupied and 4 vacant
