Add Listing
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

    653 Instrument Dr Rocky Mount, NC 27804-8615

    • Industrial properties
    • 114,765 SF
    • 47.00 lot acres
    OFF-MARKET
    Value Estimations
    $15,280,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2674633
    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

    • Dyke Industries Inc / Big Box & Wholesale Store

    Property Details for 653 Instrument Dr

    Year built
    1966
    Construction
    BRICK
    Lot size
    47.00 lot acres
    Property size
    114,765 SF
    Property type
    Industrial properties
    Property subtype
    Industrial live-work properties
    APN
    385220-91-1889
    APU
    385220911889

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $16,805,000
      6.5%
      $15,510,000
      7%
      $14,405,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $17,208,000
      Market price range: $6.70M - $34.0M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $17,120,000
      Current use
      WAREHOUSE, STORAGE
      $18,240,000
      Change: +7% 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
    -77.7856
    Latitude
    36.0021
    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
    $36,334
    $199,930
    $2,704,820
    $2,904,750
    -
    $199,930
    $2,704,820
    $2,904,750

    Comparable in this City

    • Value Estimation
      $3,215,000
      55,104 SF

      381 Grace St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 55,104 SF
      381 Grace St, Rocky Mount, NC 27804-5317
      View Details
    • Value Estimation
      $9,255,000
      60,595 SF

      175 Freight Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 60,595 SF
      175 Freight Rd, Rocky Mount, NC 27804-8002
      View Details
    • Value Estimation
      $1,970,000
      29,424 SF

      442 Church St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 29,424 SF
      442 Church St, Rocky Mount, NC 27804-5809
      View Details
    • Value Estimation by Request
      146,639 SF

      4481 Dozier Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 146,639 SF
      4481 Dozier Rd, Rocky Mount, NC 27804
      View Details
    • Value Estimation
      $14,260,000
      64,640 SF

      546 English Rd

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 64,640 SF
      546 English Rd, Rocky Mount, NC 27804-9517
      View Details
    • Value Estimation
      $2,295,000
      38,735 SF

      518 Pearl St

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 38,735 SF
      518 Pearl St, Rocky Mount, NC 27804-5847
      View Details

    Similar Nearby for Sale

    • $1,299,999

      Free Standing Industrial Building For Sale

      47,924 SF industrial building on 3.3 acre lot.
      2521 North Church St, Rocky Mount, NC 27804
      View Details
    • $550,000
      2,600 SF

      Retail/Showroom with Attached Warehouse

      Retail/showroom space with attached warehouse in a prime location.
      1241 Independence Dr, Rocky Mount, NC 27804
      View Details
    • $59,000
      0.34 Acres

      Residential Land in Golf Community

      Wooded lot in Belmont Lake Preserve golf community.
      143 Glasgow, Rocky Mount, NC 27804
      View Details
    • $198,000
      Pending

      Rocky Mount Land For Sale

      2.98 acres of land in high-traffic location.
      2286 Benvenue Rd, Rocky Mount, NC 27804
      View Details
    • $205,000
      0.34 Acres

      Prime Land on Sunset Avenue

      High-traffic location ideal for office, medical, or service businesses.
      2705 Sunset Ave, Rocky Mount, NC 27804
      View Details
    • $75,000
      0.71 Acres

      Residential Lot in Rocky Mount

      Vacant lot for custom dream home in quiet community.
      3519 W Hampton Dr, Rocky Mount, NC 27804
      View Details

    Similar Nearby for Lease

    • $4,349 /Mo
      6,098 SF

      Rocky Mount Flex Space

      6,098 SF flex space ideal for light industrial use.
      105 Gelo Rd, 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

      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
    • 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
    • $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
    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.
    653 Instrument Dr
    Rocky Mount, NC 27804-8615
    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.
    Sign Up Successful!
    You now have access to more from Realmo!