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Discovering the compactness properties in generalized-type metric spaces opens up a fascinating area of research. The present study tries to develop a theoretical framework for compactness with key properties in the recently developed interval metric space. This work begins with explaining the covers and open covers to define compact interval metric spaces and their main features. Next, a similar definition of compactness using the finite intersection property is introduced. Then, the famous Heine–Borel theorem for compactness is extended in the case of interval metric spaces. Also, the concepts of sequential-type compactness and Bolzano–Weierstrass (BW)-type compactness for interval metric spaces are introduced with their equivalency relationship. Finally, the notion of total boundedness in interval metric spaces and its connection with compactness is introduced, providing new insights into these mathematical concepts.