Downtown Winston-Salem Retail/Office
For Sale
Contact for pricing
215 N Broad St, Winston-Salem, NC 27101
Two-story, 7,040 SF building in downtown Winston-Salem.
Property Size7,040 SF
Price / SF$141.34
Days on Market1575
Property Features for 215 N Broad St
General Information
Standard status
Active
Size
7,040 SF
Property subtype
Retail
Zoning
HB
Lease Type
NNN
Building Details
Year Built
1966
Buildings
1
Stories
2
Units
1
Listing Agency:
Linville Team Partners
Listed By:
Katie Hayes · License #314753
(336) 724-1715
Source:
Crexi
Added: May 13, 2022
Changed: Aug 16
Last Checked: Sep 2 at 7:31PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Linville Team Partners
Investment Insights
Based on property information with market context.
This two-story building offers approximately 7,040 square feet of retail or office space. Situated on N. Broad Street in downtown Winston-Salem, the property benefits from a traffic volume of 13,000 vehicles per day. Its location is two blocks from Truist Stadium and provides convenient access to I-40. The property features high visibility and ample parking. It is strategically located among restaurants, retailers, and luxury apartments, including the 229-unit West End Station and the upcoming high-end 300-unit Easley. The building is a warm shell, ready for redevelopment.
Key Highlights
- High‑visibility location on N. Broad Street (13,000 VPD) in downtown Winston‑Salem.
- ±7,040 SF two‑story building, warm shell ready for redevelopment.**
- Ample parking.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,172
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,363,440
$1.4M
Cap Rate 7%
$973,886
$973.9K
Cap Rate 9%
$757,467
$757.5K
Market Conditions
NOI Build-Up for 7,040 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$114.0K $16.20/SF
− Vacancy
−$23.2K −$3.29/SF
EGI
$90.9K $12.91/SF
− OpEx
−$22.7K −$3.23/SF
NOI
$68.2K $9.68/SF
Area
Winston-Salem, NC
Vacancy
20.30%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,363,440
Cap Rate 7%
$973,886
Cap Rate 9%
$757,467
Alternative Uses
Best Use
Office B
$973.9K
$852.2K – $1.14M
NOI $68,172 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,031 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
83
Businesses Nearby
Explore this area
Business Placement
Demographics for 27101, NC
21,654
Population
11,958
Households
1.8
Avg Household Size
37
Median Age
34%
College-Educated
90%
High-School Grad
12.5 sq mi
ZIP Area
1,732
Density / Sq Mi
$44,611
Median Household Income
$34,278
Median Earnings
$970
Median Rent
$201,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Two-story, 7,040 SF building in downtown Winston-Salem.
Where is this office building located?
The property is located at 215 N Broad St Winston-Salem, NC.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: High‑visibility location on N. Broad Street (13,000 VPD) in downtown Winston‑Salem.; ±7,040 SF two‑story building, warm shell ready for redevelopment.**; Ample parking.
