Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    1138 Rocky Run Rd Midway Park, NC 28544-1125

    • Commercial real estate
    • 3,458 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $305,000
    Show details
    Cap Rate Potential
    9.9%
    Commercial real estate
    Location Intelligence
    Property ID
    US53-2102077
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1138 Rocky Run Rd

    Year built
    1964
    Lot size
    0.50 lot acres
    Property size
    3,458 SF
    Zone code
    RA
    Property type
    Commercial real estate
    APN
    4713
    APU
    4713

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $240,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $400,000
      6.5%
      $365,000
      7%
      $340,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $305,000
      Market price range: $301k - $1.17M
      AI Estimate
      $213,000
      Market price range: $165k - $618k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Midway Park
    County
    Onslow
    State
    North Carolina
    Longitude
    -77.3197
    Latitude
    34.7368
    CBSA code
    27340
    CBSA name
    JACKSONVILLE, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $877
    $27,500
    $106,410
    $133,910
    -
    $27,500
    $106,410
    $133,910

    Comparable in this City

    • Value Estimation by Request
      0.46 Acres

      Rocky Run Rd

      COMMERCIAL (GENERAL) • 0.46 Acres
      Rocky Run Rd, Midway Park, NC 28544
      View Details
    • Value Estimation
      $910,000
      128,208 SF

      2763 Piney Grn Rd

      COMMERCIAL (GENERAL) • 128,208 SF
      2763 Piney Grn Rd, Midway Park, NC 28544
      View Details
    • Value Estimation by Request
      12,979 SF

      2763 Piney Grn Rd

      COMMERCIAL (GENERAL) • 12,979 SF
      2763 Piney Grn Rd, Midway Park, NC 28544
      View Details
    • Value Estimation
      $405,000
      11,434 SF

      209 Freedom Way

      COMMERCIAL (GENERAL) • 11,434 SF
      209 Freedom Way, Midway Park, NC 28544-1418
      View Details
    • Value Estimation
      $260,000
      6.81 Acres

      Lk St

      COMMERCIAL (GENERAL) • 6.81 Acres
      Lk St, Midway Park, NC 28544
      View Details
    • Value Estimation
      $270,000
      5,000 SF

      1226 Rocky Run Rd

      COMMERCIAL (GENERAL) • 5,000 SF
      1226 Rocky Run Rd, Midway Park, NC 28544-1120
      View Details

    Similar Nearby for Sale

    • $705,000
      5,500 SF

      Midway Park Commercial Land Opportunity

      Prime 1.2-acre commercial lot, 5,500 SF building.
      2720 Piney Green Rd, Jacksonville, NC 28544
      View Details
    • $500,000

      Prime Industrial Land, Midway Park NC

      ±1 Acre Corner Lot, Hwy 24 Access
      483 47, Jacksonville, NC 28544
      View Details
    • $45,000
      3.00 Acres

      Midway Park Land Opportunity

      3 acres near Camp Lejeune, ideal for homesite or investment.
      Lake Cole Rd, Midway Park, NC 28544
      View Details
    • $39,000
      0.80 Acres

      Midway Park Vacant Land

      0.80-acre lot near New River, ideal for building or mobile home.
      109 Shady St, Midway Park, NC 28544
      View Details
    • $175,000
      0.27 Acres

      Prime Location Land For Sale

      0.27 acre lot in Midway Park, NC, ready for development.
      2848 Piney Green Rd, Midway Park, NC 28544
      View Details
    • $60,000
      3.63 Acres

      Wooded Lot Near Jacksonville

      3.63 acre wooded lot near Jacksonville, Camp Lejeune.
      Lake Cole Rd, Midway Park, NC 28544
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      16,900 SF

      Prime Jacksonville Warehouse Space

      16,900 SF Warehouse - High Traffic Area
      2770 Piney Green Rd, Jacksonville, NC 28544
      View Details
    • $3,280,000
      10,438 SF

      Medical Office Building For Lease

      Medical office building in excellent condition near Camp Lejeune.
      241 Freedom Way, Jacksonville, NC 28544
      View Details
    • $1,400 /Mo
      40,511 SF

      Midway Park Commercial Building For Rent

      Commercial building for rent with multiple potential uses.
      1224 Rocky Run Rd, Midway Park, NC 28544
      View Details
    • $19,135 /Mo
      10,438 SF

      Renovated Medical Office Near Base

      Completely renovated medical office building near Camp Lejeune Marine Base.
      241 Freedom Way, Midway Park, NC 28544
      View Details
    Request Owner's contact information
    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.
    1138 Rocky Run Rd
    Midway Park, NC 28544-1125
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.