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    The Largest CRE Database in the US with Over 1 Million Listings

    4871 Phelps Dr Winston Salem, NC 27105

    Sponsored
    For Sale
    Pending
    $493,650

    LAND - Winston-Salem, NC

    Lot size:
    130.10 Acres
    Days on Market:
    23
    Last Refresh:
    Jan 23 at 3:06 am

    Property Features for 4871 Phelps Dr

    General Information

    Special listing conditions
    Auction
    Property type
    Land
    Property subtype
    Other
    TransactionType
    Auction
    Standard status
    Pending
    Vegetation
    Brush, Grassed, Partially Wooded
    Zoning
    RS20
    APN
    6848-34-3802, see remarks
    Lot size
    130.10 Acres

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Septic Needed
    Water source
    Well Needed

    We can help!

    Listing Contact
    Reynolds Mcfarlane

    3289llc (919) 815-2890 [email protected]

    Listing agent Reynolds Mcfarlane (919) 275-5868

    Listing date Jan 1, 2026

    MLS# 10097654 Listing URL

    Copyright © 2026 Doorify MLS of North Carolina. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Expansive Land Assemblage Near Winston-Salem

    This offering features an expansive assemblage of parcels totaling approximately 130 acres near Winston-Salem, North Carolina, now with newly established access to Phelps Dr. The land's substantial size and favorable zoning (RS20 and RS9) make it suitable for a wide range of residential projects. The proximity to urban amenities coupled with the tranquility of a vast landholding offers the best of both worlds. The property comprises 7 parcels sold together, identified as GIS#s 6848-16-3842.00, 6848-34-3802.00, 6848-26-6948.00, 6848-26-0556.00, 6848-16-6946.00, 6848-16-0819.00, and 6848-16-1707.00. NCDOT# 261424, 252796, and 260996 (use 261424 for bidding). Blue-line streams, a pond, and approximately 24 acres of floodplain are present. Well water is currently required, but there is public water along Davis Rd, Phelps Dr, Three Hills Dr, and Jackson View Rd. A natural gas easement is present. Public sewer is not available. Access and development are not guaranteed and may require road upgrades or additional approvals. Buyers should verify all requirements with NCDOT and local planning authorities. The buyer is responsible for all due diligence regarding the property, and the lot size is not guaranteed and should be verified independently by the buyer. This property is owned by NCDOT, and they reserve the right to unilaterally back out of the sale at any time up until the deed has been recorded. The title will be transferred via QuitClaim Deed.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Realty agency Spa & Massage Auto Repair Shop Hair Salon Clothing Store Department Store Kitchen & Bath Convenience Store Cafe & Coffee Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.212326
    Latitude
    36.179428

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    FAQs

    What type of property is this?
    Land - Approximately 130 acres near Winston-Salem, suitable for residential development.
    Where is this land located?
    The property is located at 4871 Phelps Dr Winston Salem, NC.
    What is the asking price?
    The asking price for this property is $493,650.
    What are key features of this property?
    This property features: - Expansive 130-acre land assemblage near Winston-Salem, offering substantial development potential.; - Favorable zoning (RS20 and RS9) suitable for a wide range of residential projects.; - Newly established access to Phelps Dr enhances development possibilities.
    (919) 275-5868
    Request Owner's contact information
    4871 Phelps Dr Winston Salem, NC 27105
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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
    4871 Phelps Dr Winston Salem, NC 27105
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    We can help!
    Listing Contact
    Reynolds Mcfarlane
    (919) 275-5868
    Learn more
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