166-Room DoubleTree in Rocky
For Sale
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651 N Winstead Ave, Rocky Mount, NC 27804
166-room DoubleTree located in Rocky Mount, North Carolina.
Property Size98,831 SF
Price / SF$151.77
Days on Market248
Property Features for 651 N Winstead Ave
General Information
Standard status
Active
Size
98,831 SF
Property subtype
Hospitality
Occupancy
63%
Net Operating Income
$1,333,704
Building Details
Year Built
1986
Stories
4
Listing Agency:
Bang Realty
Listed By:
Brian Brockman · License #BRK.200900214
(888) 737-2264
Source:
Crexi
Added: Jan 22
Changed: Sep 26
Last Checked: Sep 26 at 4:28AM
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 Bang Realty
Investment Insights
Based on property information with market context.
This 166-room DoubleTree is located in Rocky Mount, NC, near US-64 and I-95, minutes from downtown and Rocky Mount Mills. Its position along the New York-to-Florida corridor and routes to the Outer Banks makes it an ideal stop for travelers. Business guests benefit from close proximity to major corporations including CSX, Cummins, Pfizer, Crump Naturals, and UNC Healthcare. The hotel also offers easy access to athletic venues such as the Rocky Mount Event Center, Rocky Mount Sports Complex, Nash County Sports Complex, and NC Wesleyan University. Guests can enjoy amenities including complimentary Wi-Fi, free parking, an outdoor pool, a fitness center, and a market. Rocky Mount offers cultural attractions, outdoor recreation, and family-friendly destinations. The Rocky Mount Mills features craft breweries, restaurants, live music, and walking paths along the Tar River. Visitors also frequent the Rocky Mount Event Center, a regional sports and entertainment venue. Nature lovers enjoy Battle Park, while families visit the Children’s Museum & Science Center and Planetarium. Additional draws such as the Rocky Mount Sports Complex, City Lake, and a growing downtown arts district make Rocky Mount an appealing destination for leisure travelers, sports visitors, and weekend explorers. Rocky Mount’s economy is anchored by manufacturing, healthcare, logistics, and food processing, supported by its position along the I-95 corridor. The city has seen steady revitalization, especially around Rocky Mount Mills, which has attracted breweries, tech startups, residential units, and hospitality investment. Major employers such as Pfizer, Cummins, Nash UNC Health Care, and regional distribution centers contribute to a stable employment base and consistent business travel demand. The city continues to benefit from public and private investment in industrial parks and downtown redevelopment, and transportation infrastructure, all of which support job growth and visitor activity. Rocky Mount is evolving into a balanced economy supported by local industry and regional tourism.
Key Highlights
- 166‑room DoubleTree Hotel in Rocky Mount, NC.
- Prime location off US‑64 and I‑95, along the New York‑to‑Florida corridor.
- Proximity to major corporations driving business travel.
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
$598,545
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
3.99%
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%
$11,970,900
$12.0M
Cap Rate 7%
$8,550,643
$8.6M
Cap Rate 9%
$6,650,500
$6.7M
Market Conditions
NOI Build-Up for 98,831 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
$1.48M $15.00/SF
− Vacancy
−$222.4K −$2.25/SF
EGI
$1.26M $12.75/SF
− OpEx
−$661.6K −$6.69/SF
NOI
$598.5K $6.06/SF
Area
Nash County, NC
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
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%
$11,970,900
Cap Rate 7%
$8,550,643
Cap Rate 9%
$6,650,500
Alternative Uses
Best Use
Hotel Hospitality
$8.55M
$7.48M – $9.98M
NOI $598,545 @ 7.0% cap · market cap 3.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$32.58M
$28.51M – $38.01M
NOI $2,280,897 @ 7.0% cap · market cap 15.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
747
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Hotel - 166-room DoubleTree located in Rocky Mount, North Carolina.
Where is this hotel located?
The property is located at 651 N Winstead Ave Rocky Mount, NC.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: 166‑room DoubleTree Hotel in Rocky Mount, NC.; Prime location off US‑64 and I‑95, along the New York‑to‑Florida corridor.; Proximity to major corporations driving business travel.
