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

    124 Foy Dr Rocky Mount, NC 27804-2417

    • Medical offices
    • 2,574 SF
    • 0.37 lot acres
    OFF-MARKET
    Value Estimations
    $655,000
    Show details
    Cap Rate Potential
    4.5%
    Medical offices
    Location Intelligence
    Property ID
    US53-2877848
    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

    • Allergy & Asthma Specialty Group / Allergist / Medical Clinic
    • Allergy & Asthma Specialty Group: Covington Jr Alfred J MD / Allergist

    Property Details for 124 Foy Dr

    Year built
    1970
    Construction
    BRICK
    Lot size
    0.37 lot acres
    Property size
    2,574 SF
    Zone code
    I
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    384006-37-2789
    APU
    384006372789

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $660,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $500,000
      6.5%
      $460,000
      7%
      $425,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $851,000
      Market price range: $735k - $1.28M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $970,000
      Current use
      AUTO REPAIR, GARAGE
      $825,000
      Change: -15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Rocky Mount
    County
    Nash
    State
    North Carolina
    Longitude
    -77.8397
    Latitude
    35.9642
    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
    $1,841
    $71,250
    $186,030
    $257,280
    -
    $71,250
    $186,030
    $257,280

    Comparable in this City

    • Value Estimation by Request
      1,395 SF

      125 Foy Dr

      MEDICAL BUILDING • 1,395 SF
      125 Foy Dr, Rocky Mount, NC 27804-2418
      View Details
    • Value Estimation
      $5,230,000
      10,509 SF

      921 Winstead Ave

      MEDICAL BUILDING • 10,509 SF
      921 Winstead Ave, Rocky Mount, NC 27804-8749
      View Details
    • Value Estimation
      $2,070,000
      7,274 SF

      2325 Sunset Ave

      MEDICAL BUILDING • 7,274 SF
      2325 Sunset Ave, Rocky Mount, NC 27804-2529
      View Details
    • Value Estimation
      $2,545,000
      5,297 SF

      147 Winstead Ave

      MEDICAL BUILDING • 5,297 SF
      147 Winstead Ave, Rocky Mount, NC 27804-2236
      View Details
    • Value Estimation
      $555,000
      1,600 SF

      112 Winstead Ave

      MEDICAL BUILDING • 1,600 SF
      112 Winstead Ave, Rocky Mount, NC 27804-2235
      View Details
    • Value Estimation
      $905,000
      5,092 SF

      413 Ml St

      MEDICAL BUILDING • 5,092 SF
      413 Ml St, Rocky Mount, NC 27804-4837
      View Details

    Similar Nearby for Sale

    • $900,000
      11,315 SF

      Class A Office Building in Rocky Mount, NC

      Executive & Traditional Office Space, 11,315 SF
      451 Winstead Ave, Rocky Mount, NC 27804
      View Details
    • New
      $249,900
      1,650 SF

      Downtown Office Duplex For Sale

      Downtown office duplex with separate entrances, ready for occupancy.
      411/413 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • $695,000
      7,274 SF

      Sunset Ave Office Building

      Rocky Mount Office Investment Opportunity
      2325 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • $700,000
      7,274 SF

      Income Producing Office Building

      Office building with leasing opportunities in a high-traffic location.
      2325 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • $125,000
      1.27 Acres

      Wesleyan Blvd Commercial Land

      1.27-acre commercial lot in Rocky Mount, NC.
      0 Wesleyan Blvd, Rocky Mount, NC 27804
      View Details
    • $270,000
      Pending

      Rocky Mount Multifamily Investment Opportunity

      Multifamily property in Rocky Mount, NC with income potential.
      1114 Gold St, Rocky Mount, NC 27804
      View Details

    Similar Nearby for Lease

    • $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
    • Contact for pricing
      6,581 SF

      Office Space at Rocky Mount Mills

      Office space for rent in a mixed-use campus.
      1151 Falls Rd, Rocky Mount, NC 27804
      View Details
    • $12 SF/Yr
      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
    • $18 SF/Yr
      57,556 SF

      Rocky Mount Office Spaces

      Historic building, flexible office suites.
      1701 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • $14,213 /Mo
      47,900 SF

      Rocky Mount Office/Warehouse with Yard

      47,900 SF office/warehouse with laydown yard for lease.
      2521 N Church St, 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
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    124 Foy Dr
    Rocky Mount, NC 27804-2417
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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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