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

    21 Progress Dr Rocky Mount, NC 27804-9745

    • Drive through restaurants
    • 3,469 SF
    • 1.10 lot acres
    OFF-MARKET
    Value Estimations
    $4,015,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2920743
    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

    • El Tapatio Rocky Mount #2 / Restaurant

    Property Details for 21 Progress Dr

    Year built
    2010
    Lot size
    1.10 lot acres
    Property size
    3,469 SF
    Zone code
    B5CU
    Property type
    Drive through restaurants
    APN
    384113-22-2637
    APU
    384113222637

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $3,950,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,079,000
      Market price range: $1.86M - $4.08M

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

    Location Insight

    • Map
    • Local Demand
    City
    Rocky Mount
    County
    Nash
    State
    North Carolina
    Longitude
    -77.843
    Latitude
    35.9777
    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
    $9,249
    $369,710
    $1,134,230
    $1,503,940
    -
    $369,710
    $1,134,230
    $1,503,940

    Comparable in this City

    • Value Estimation
      $3,270,000
      4,160 SF

      2108 Stone Rose Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,160 SF
      2108 Stone Rose Dr, Rocky Mount, NC 27804-2556
      View Details
    • Value Estimation
      $2,385,000
      1,612 SF

      101 Rowe Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,612 SF
      101 Rowe Dr, Rocky Mount, NC 27804-6431
      View Details
    • Value Estimation
      $2,580,000
      3,182 SF

      980 Tarrytown Ctr

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,182 SF
      980 Tarrytown Ctr, Rocky Mount, NC 27804-1799
      View Details
    • Value Estimation
      $2,275,000
      1,581 SF

      43 Ventura Dr

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,581 SF
      43 Ventura Dr, Rocky Mount, NC 27804-4000
      View Details
    • Value Estimation
      $2,105,000
      3,311 SF

      1831 Wesleyan Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,311 SF
      1831 Wesleyan Blvd, Rocky Mount, NC 27804-6632
      View Details
    • Value Estimation
      $4,885,000
      5,795 SF

      950 Wesleyan Blvd

      DRIVE-THRU RESTAURANT, FAST FOOD • 5,795 SF
      950 Wesleyan Blvd, Rocky Mount, NC 27804-1758
      View Details

    Similar Nearby for Sale

    • $2,200,000

      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
    • New
      $150,000
      1,367 SF

      Restaurant Space with Expansion Potential

      Commercial space ideal for restaurant or business with expansion options.
      601-603 N Pine St, Rocky Mount, NC 27804
      View Details
    • Contact for pricing
      4,810 SF

      Retail Corner in Rocky Mount

      Five-unit retail space with restaurant potential in high-traffic area.
      901 Falls Rd, Rocky Mount, NC 27804
      View Details
    • Contact for pricing
      4,810 SF

      Retail Corner in Rocky Mount

      Five-unit retail space with restaurant, high visibility, foot traffic.
      901 Falls Rd, Rocky Mount, NC 27804
      View Details
    • New
      $350,000
      31.80 Acres

      31.8 Acres Light Industrial Site

      31.8-acre light industrial site suitable for various commercial uses.
      5413 Dortches Blvd, Rocky Mount, NC 27804
      View Details
    • New
      $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

    Similar Nearby for Lease

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

      Retail Space on Sunset Avenue

      5500 sqft retail space with road frontage, shelving.
      1800 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • $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
    • Contact for pricing

      Convenient Office Space For Rent

      Open-concept office space near national retailers with ample parking.
      2325 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • Contact for pricing

      Standalone Open Concept Office Building

      Move-in ready office building with open layout and one bathroom.
      327 S Pearl St, 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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    21 Progress Dr
    Rocky Mount, NC 27804-9745
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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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