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    1311 Freeway Drive Reidsville, NC 27320

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    COMMERCIAL - Reidsville, NC

    Type:Office
    Property size:
    2,462 SF
    Added:
    Oct 27, 2025
    Days on Market:
    178
    Last Refresh:
    Apr 22 at 9:06 am

    Property Features for 1311 Freeway Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    HB/Commercial
    Parking
    20
    Standard status
    Active
    Size
    2,462 SF

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1986
    Floors in Building
    3

    We can help!

    Listing Contact
    Michael McCollum
    Michael McCollum

    Listing agent Michael McCollum License #169448

    Listing office Keller Williams One Greensboro, NC

    Listing date Oct 27, 2025

    MLS# 1199867

    Copyright © 2026 Triad Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Reidsville Office Space for Lease

    This commercial property in Reidsville, North Carolina, offers office space for lease across three floors. The building has been recently renovated. The main level provides 1200 square feet, the second level offers 800 square feet with four offices, and the third level includes 400 square feet with two office spaces. The property features updated bathrooms on the main and second levels. A large conference room is located on the main level. New laminate flooring has been installed throughout. The second and third floors were painted in October 2025. Situated in a high-visibility area on Freeway Drive, the property provides ample parking. The first floor is handicap accessible, with a ramp and bathroom. Lease terms are $15 per square foot per year for the main floor, $14 per square foot per year for the second floor, and $13 per square foot per year for the third floor. Rent will be determined based on the amount of space required. The property is zoned HB/Commercial.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    McCollum Realty Team Real Estate Agency Redirections Non-Profit Organization

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reidsville
    County
    Rockingham
    State
    North Carolina
    Longitude
    -79.689425
    Latitude
    36.327604

    Nearby Similar for Lease

    • Contact for pricing

      Reidsville Retail/Warehouse Space Available

      2,700 SF retail/warehouse space for lease in Reidsville, NC.
      1641 Freeway Dr, Reidsville, NC
      View Details
    • Contact for pricing

      Former American Tobacco Facility Space

      Upscale office, data center, R&D, and industrial space available.
      301 N Scales St, Reidsville, NC
      View Details
    • Contact for pricing

      Freeway Drive Office Center

      Office center with high visibility on Freeway Drive.
      1417 Freeway Dr, Reidsville, NC 27320
      View Details

    FAQs

    What type of property is this?
    Office units - Recently renovated office space available in Reidsville, North Carolina.
    Where is this office units located?
    The property is located at 1311 Freeway Drive Reidsville, NC.
    What are key features of this property?
    This property features: Recently renovated on all three floors.; High visibility location on Freeway Dr.; Ample parking.
    (336) 432-2222
    We can help!
    Listing Contact
    Michael McCollum
    Michael McCollum
    Real Estate License ID: 169448
    Learn More
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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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