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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1232 Wesleyan Blvd Rocky Mount, NC 27804-1815

    • Community centers
    • 19,992 SF
    • 7.76 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2025
    $3,500,000
    Value Estimations
    $3,520,000
    Show details
    Cap Rate Potential
    6.1%
    Community centers
    Location Intelligence
    Property ID
    US53-2559655
    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

    • Platinum Cafe / Cafe & Coffee Shop
    • Toast Up Brunch Lounge / Restaurant

    Property Details for 1232 Wesleyan Blvd

    Year built
    1985
    Construction
    CONCRETE BLOCKS
    Lot size
    7.76 lot acres
    Property size
    19,992 SF
    Zone code
    B2
    Property type
    Community centers
    APN
    385118-42-4374
    APU
    385118424374

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,320,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,370,000
      6.5%
      $3,115,000
      7%
      $2,890,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,172,000
      Market price range: $2.07M - $4.17M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,005,000
      Current use
      OFFICE BUILDING
      $5,405,000
      Change: +80% Conversion: Moderate
      RETAIL STORES
      $4,810,000
      Change: +60% Conversion: Easy
      COMMERCIAL (GENERAL)
      $4,070,000
      Change: +35% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Rocky Mount
    County
    Nash
    State
    North Carolina
    Longitude
    -77.8014
    Latitude
    35.976
    CBSA code
    40580
    CBSA name
    ROCKY MOUNT, 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
    $16,342
    $1,023,100
    $428,060
    $1,451,160
    -
    $1,023,100
    $428,060
    $1,451,160

    Comparable in this City

    • Value Estimation
      $7,525,000
      69,953 SF

      301 Church St

      MINI-MALL • 69,953 SF
      301 Church St, Rocky Mount, NC 27804-5755
      View Details
    • Value Estimation
      $13,900,000
      95,646 SF

      550 Sutters Crk Blvd

      MINI-MALL • 95,646 SF
      550 Sutters Crk Blvd, Rocky Mount, NC 27804-8437
      View Details
    • Value Estimation by Request
      10,842 SF

      767 Word Plz

      Lifestyle centers • 10,842 SF
      767 Word Plz, Rocky Mount, NC 27804
      View Details
    • Value Estimation
      $7,260,000
      46,533 SF

      3651 Sunset Ave

      MINI-MALL • 46,533 SF
      3651 Sunset Ave, Rocky Mount, NC 27804-3411
      View Details
    • Value Estimation
      $5,395,000
      25,320 SF

      1340 Benvenue Rd

      SHOPPING CENTER, STRIP CENTER • 25,320 SF
      1340 Benvenue Rd, Rocky Mount, NC 27804-1803
      View Details
    • Value Estimation
      $7,605,000
      47,310 SF

      404 Goldrock Rd

      SHOPPING CENTER, STRIP CENTER • 47,310 SF
      404 Goldrock Rd, Rocky Mount, NC 27804-8852
      View Details

    Similar Nearby for Sale

    • $2,200,000
      4,997 SF

      Freestanding Building on 2.52 Acres

      4,997 SF commercial building on 2.52 acres in Rocky Mount.
      1690 Benvenue Rd, Rocky Mount, NC 27804
      View Details
    • $899,900
      9,000 SF

      Versatile Commercial Building Near Major Routes

      9,000 SF commercial building on 3 acres near I-95.
      2040 Fenner Rd, Rocky Mount, NC 27804
      View Details
    • New
      $175,000
      1,367 SF

      Restaurant Space with Expansion Potential

      Commercial property with restaurant space and expansion opportunity in Rocky Mount.
      601-603 N Pine St, Rocky Mount, NC 27804
      View Details
    • $560,000
      4,810 SF

      Retail Corner Near Rocky Mount Mills

      Five-unit retail property with restaurant space near mixed-use development.
      901 Falls Rd, Rocky Mount, NC 27804
      View Details
    • New
      $750,000
      34.50 Acres

      Rocky Mount Industrial Land Available

      34.5-acre light industrial site in Rocky Mount, North Carolina.
      5413 Dortches Blvd, Rocky Mount, NC 27804
      View Details
    • Contact for pricing
      2,824 SF

      Murphy USA Ground Lease Opportunity

      20-year ground lease to Murphy USA in Rocky Mount, NC.
      959 N Wesleyan Blvd, Rocky Mount, NC 27804
      View Details

    Similar Nearby for Lease

    • New
      $3,000 /Mo
      5,500 SF

      Rocky Mount Retail Space Available

      5500 sqft retail space with road frontage near Hwy 301.
      1800 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • New
      $2,125 /Mo
      2,548 SF

      Rocky Mount Office Space Available

      Office space featuring 12 private offices and conference room.
      3051 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • $14 SF/Yr
      7,274 SF

      Sunset Ave Office Space for Lease

      Rocky Mount Office Suites Available
      2325 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • $3 SF/Yr
      55,000 SF

      Nash County Warehouse - 55,000 SF

      Prime Industrial Space, Excellent Access
      2245 Church St, Rocky Mount, NC 27804
      View Details
    • $18 SF/Yr
      57,556 SF

      Rocky Mount Office Spaces

      Historic building, flexible office suites.
      1701 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • Contact for pricing
      11,000 SF

      Downtown Rocky Mount Office Space

      Class A office space in a prime downtown location.
      134 N Church St, Rocky Mount, NC 27804
      View Details
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    Rocky Mount, NC 27804-1815
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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.

    More about this property
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