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    Property profile & analytics

    1701 Sunset Ave Rocky Mount, NC 27804

    • Office buildings
    • 58,511 SF
    • 2.30 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    $3,670,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2651602
    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

    • Elite Credit Services / Credit Counseling Service / Service Establishment
    • Chico's Mexican Restaurant / Mexican Restaurant
    • Peggy S Levin / Attorney
    • The August Realtor, LLC / Service Establishment / Real Estate Agency
    • Gibson T Stewart / Attorney

    Property Details for 1701 Sunset Ave

    Year built
    1928
    Construction
    BRICK
    Lot size
    2.30 lot acres
    Property size
    58,511 SF
    Zone code
    B2
    Property type
    Office buildings
    APN
    384016-93-0324
    APU
    384016930324

    Description

    This stunning, five-story Class A office building, situated on 2.3 acres in Rocky Mount, NC, offers a unique blend of historic charm and modern convenience. Originally constructed in 1923, the 57,556 square foot Rocky Mount Power Plant has been thoughtfully renovated to provide a variety of office spaces, ranging from 180 to 2,624 square feet, suitable for coworking, traditional office setups, or executive suites. Multiple tenancy options are available. The building boasts 90-100 parking spaces and elevators for easy access. Located on Sunset Avenue, the city's busiest street, this high-visibility location offers exceptional foot and vehicle traffic. Its prime location is less than half a mile from Highway 301 and within a mile of numerous national retail chains, including Popeyes, KFC, Dunkin' Donuts, and Panera Bread. Utilities are included, and mail services can be arranged for individual units. The B2CU zoning provides flexibility for various business types. The property's address is 1701 Sunset Ave, Rocky Mount, NC 27804 (APN: 3840-16-93=0324, Nash County). Enjoy the added benefit of proximity to the city lake. This is an exceptional opportunity to lease office space in a landmark building with unparalleled accessibility and visibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $3,670,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Rocky Mount
    County
    Nash
    State
    North Carolina
    Longitude
    -77.8205
    Latitude
    35.9517
    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
    $7,286
    $143,750
    $1,576,040
    $1,719,790
    -
    $143,750
    $1,576,040
    $1,719,790

    Comparable in this City

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      Greyson Rd

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      $485,000
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      418 Peachtree St

      OFFICE BUILDING • 1,134 SF
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      122 Roundabout Ct

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      1911 Wesleyan Blvd

      OFFICE BUILDING • 960 SF
      1911 Wesleyan Blvd, Rocky Mount, NC 27804-6634
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    • Value Estimation
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      1,993 SF

      101 Church St

      OFFICE BUILDING • 1,993 SF
      101 Church St, Rocky Mount, NC 27804-5702
      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
    • $695,000
      7,274 SF

      Sunset Ave Office Building

      Rocky Mount Office Investment Opportunity
      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
    • $65,000
      0.83 Acres

      Residential Land in Belmont Lake Preserve

      0.83 acre lot in premier Rocky Mount community.
      672 Chimney Hill Way, 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
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    • $32,500
      0.33 Acres

      Residential Land in Belmont Lake

      Fairway lot in Belmont Lake Preserve, Rocky Mount, NC.
      44 Formby, Rocky Mount, NC 27804
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    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
    • $18 SF/Yr
      57,556 SF

      Rocky Mount Office Spaces

      Historic building, flexible office suites.
      1701 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • $20 SF/Yr
      1,384 SF

      Rocky Mount Office Space Available

      Office space available for lease in Rocky Mount, NC.
      804 English 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
    • $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
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    Rocky Mount, NC 27804
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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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