This exceptional Class A office building, totaling 11,315 square feet, is situated on a 1.66-acre lot in Rocky Mount, NC (APN: 3840-05-09-5468, 3840-05-09-5655). Built in 1990 and extensively renovated in 2022, this three-story property boasts a prime location less than five minutes from Highway 64, experiencing an average daily traffic volume of 22,500 vehicles. Its proximity to Nash General Hospital (under 2 minutes) and national retailers further enhances its appeal. The building features a comprehensive array of amenities, including ten new HVAC units installed in 2022, an alarm system, and a diesel generator. The interior layout is thoughtfully designed, encompassing multiple offices, conference rooms, break rooms, storage closets, and private bathrooms across two main floors. The ground floor (5,380 sq ft) includes a large reception area, fourteen offices (one executive suite with a private restroom), three conference rooms, a mailroom, break room, three storage closets, and two bathrooms. The upper level (5,380 sq ft) offers six offices, a large IT room, a 1,300 sq ft filing room, a kitchen and break room, a mechanical room, three storage closets, and two bathrooms. A lower level (555 sq ft) provides an exercise room, a full bathroom with a shower, an electrical room, two storage areas, and a patio. The asking price is $900,000 ($79.54/sq ft), and the property is zoned O&!. Included in the sale is a furniture package. This presents a remarkable opportunity to acquire a well-maintained, fully equipped office building in a high-traffic, convenient location.
Property Features for 451 Winstead Ave
General Information
Property type
Office Properties & Spaces
Square Feet
11,315 SF
Class
A
Lot Size
72,310 SF
Building Details
Year Built/Renovated
1990/2022
Buildings
1
Stories
3
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Listing Contact
Phillip Rabil
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Property Insight Report
HighLights
$900,000 asking price for this Class A, 11,315 square foot office building.
Located at 451 N Winstead Ave, Rocky Mount, NC 27804, on a 1.66‑acre lot.
Features three stories, built in 1990 and renovated in 2022, including new HVAC systems.
Includes a furniture package. The building offers multiple offices, conference rooms, break rooms, storage, and private bathrooms. A basement level provides additional storage, an exercise room, and a full bath.
Excellent location: less than 5 minutes from Highway 64, Nash General Hospital, and national retailers. High daily traffic volume of 22,500 vehicles.
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Office Property / Space - Executive & Traditional Office Space, 11,315 SF
Where is this office property / space located?
The property is located at 451 Winstead Ave Rocky Mount, NC.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: $900,000 asking price for this Class A, 11,315 square foot office building.; Located at 451 N Winstead Ave, Rocky Mount, NC 27804, on a 1.66-acre lot.; Features three stories, built in 1990 and renovated in 2022, including new HVAC systems.
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451 Winstead Ave Rocky Mount, NC 27804
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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.
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451 Winstead Ave Rocky Mount, NC 27804
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