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    3 Cross Creek Pkwy Roanoke Rapids, NC 27870

    Sponsored
    For Sale
    $1,500,000

    144-Unit Multifamily Investment Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 144-unit apartment complex, situated on a substantial 16.63-acre lot in Roanoke Rapids, North Carolina, presents a compelling investment opportunity. The property, located at Tract 3 Cross Creek Parkway, zip code 27870, comprises six buildings, all permitted for residential use under the current zoning. The asking price is $1,500,000, translating to a land value of approximately $90,198.44 per acre. This prime location offers convenient access to essential amenities and services within Roanoke Rapids. The property boasts readily available water and sewer connections, simplifying operational logistics. For developers seeking a streamlined approach, the seller is willing to prepare the land to be "pad ready," eliminating significant pre-construction hurdles. This turnkey opportunity allows for immediate development or the potential for significant value appreciation through strategic property management and enhancements. The substantial lot size and existing infrastructure make this a highly attractive proposition for investors seeking a strong return on investment in the thriving Roanoke Rapids multifamily market. This is a rare chance to acquire a well-positioned, large-scale apartment complex in a desirable location. The property is situated in Halifax County, North Carolina.

    Property Features for 3 Cross Creek Pkwy

    General Information

    Property type
    Multifamily properties
    Lot Size
    724,403 SF

    Building Details

    Buildings
    6
    Units
    144

    HighLights

    • 144‑unit apartment complex on a 16.63‑acre lot in Roanoke Rapids, NC.
    • Located at Tract 3 Cross Creek Parkway, 27870, Halifax County.
    • Asking price: $1,500,000, approximately $90,198.44 per acre.
    • Six residential buildings with readily available water and sewer.
    • Seller will prepare land for pad‑ready development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Roanoke Rapids
    County
    Halifax
    State
    North Carolina
    Longitude
    -77.6504641
    Latitude
    36.4258776

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    FAQs

    What type of property is this?
    Multifamily property - 144-Unit Multifamily Investment Opportunity
    Where is this multifamily property located?
    The property is located at 3 Cross Creek Pkwy Roanoke Rapids, NC.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 144-unit apartment complex on a 16.63-acre lot in Roanoke Rapids, NC.; Located at Tract 3 Cross Creek Parkway, 27870, Halifax County.; Asking price: $1,500,000, approximately $90,198.44 per acre.
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    3 Cross Creek Pkwy Roanoke Rapids, NC 27870
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    Realmo Value Estimation

    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.

    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.

    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
    3 Cross Creek Pkwy Roanoke Rapids, NC 27870
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