Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8 Sheraton Dr Roanoke Rpd Roanoke Rapids, NC 27870

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    1.55-acre lot, ideal for development. High visibility.

    Property Features for 8 Sheraton Dr Roanoke Rpd

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    B. Carter Kennemur, Ccim
    B. Carter Kennemur, Ccim

    Listing Agency: Kennemur and Associates Listing Agent: B. Carter Kennemur, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 1.55-acre commercial land parcel presents a remarkable investment opportunity in Roanoke Rapids, North Carolina. Strategically located on Lot 8 Sheraton Drive, this property boasts unparalleled visibility due to its frontage along a service road directly facing Interstate 95, a major transportation artery. The high traffic volume of I-95 ensures significant exposure for any commercial development on this site. Situated in Halifax County, zip code 27870, the lot's precise coordinates are 36.40397033804234 latitude and -77.64441345834389 longitude. The asking price for this prime commercial land is $810,000. This property is classified as commercial land and is ready for immediate development, offering significant potential for a variety of commercial uses. Its location provides easy access to the interstate, making it an attractive location for businesses seeking high visibility and convenient access for customers and employees. The property's size and location make it an excellent choice for businesses seeking to establish a strong presence in the Roanoke Rapids area. Don't miss this chance to acquire a highly visible and strategically located commercial lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Roanoke Rapids
    County
    Halifax
    State
    North Carolina
    Longitude
    -77.644413458344
    Latitude
    36.403970338042

    Nearby Similar for Sale

    • $350,000
      3,230 SF

      Established Retail Business Opportunity

      Turnkey retail business with real estate, fixtures, and inventory included.
      1022 Roanoke Ave, Roanoke Rapids, NC 27870
      View Details
    • $199,900
      5,775 SF

      Versatile Commercial Building with Parking

      Investment property with multiple units and parking in Roanoke Rapids.
      15 E 11Th St, Roanoke Rapids, NC 27870
      View Details
    • $625,000
      7,200 SF

      Versatile Commercial Property on 6+ Acres

      Prime commercial property with unmatched visibility and direct access.
      1652 Nc Highway 125, Roanoke Rapids, NC 27870
      View Details
    • $625,000
      6.13 Acres

      Prime Commercial Land with Visibility

      6+ acres with unmatched visibility, flexibility, and direct access.
      1652 Nc Highway 125, Roanoke Rapids, NC 27870
      View Details
    • $189,000
      0.12 Acres

      Historic Roanoke Rapids Retail/Office Building

      Prime commercial opportunity with mixed-use potential in Roanoke Rapids.
      933 Roanoke Ave, Roanoke Rapids, NC 27870
      View Details
    • $245,000
      1,521 SF

      Move-in Ready Ranch Home

      Well-maintained home with versatile exterior space in convenient location.
      1506 Pruden St, Roanoke Rapids, NC 27870
      View Details
    • $285,000
      1,636 SF

      Updated Home with Fenced Backyard

      Renovated 3-bedroom home with versatile bonus building and fenced yard.
      133 Devonshire Cir, Roanoke Rapids, NC 27870
      View Details
    • $1,500,000
      16.63 Acres

      Cross Creek Parkway Apartments

      144-Unit Multifamily Investment Opportunity
      3 Cross Creek Pkwy, Roanoke Rapids, NC 27870
      View Details

    FAQs

    What type of property is this?
    Land - 1.55-acre lot, ideal for development. High visibility.
    Where is this land located?
    The property is located at 8 Sheraton Dr Roanoke Rpd Roanoke Rapids, NC.
    What is the asking price?
    The asking price for this property is $810,000.
    What are key features of this property?
    This property features: $810,000 asking price for this commercial land parcel.; 1.55-acre commercial lot.; Located in Roanoke Rapids, NC.
    (919) 269-6400 Call to check price and availability
    Request Owner's contact information
    8 Sheraton Dr Roanoke Rpd Roanoke Rapids, NC 27870
    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.
    8 Sheraton Dr Roanoke Rpd
    Roanoke Rapids, NC 27870
    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
    8 Sheraton Dr Roanoke Rpd Roanoke Rapids, NC 27870
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing B. Carter Kennemur, Ccim
    B. Carter Kennemur, Ccim
    Real Estate License ID: 158309
    (919) 269-6400
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!