Add Listing
    For Sale
    • 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

    223 Scales Street Reidsville, NC 27320

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $320,000

    Event space with updated systems and potential business included.

    Added:
    Mar 8, 2026
    Days on Market:
    24
    Last Refresh:
    Mar 16 at 11:04 am

    Property Features for 223 Scales Street

    General Information

    Standard status
    Active

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    MARY CHALK

    Listing agent MARY CHALK

    Listing office REALTY ONE GROUP RESULTS REIDSVILLE

    Listing date Mar 8, 2026

    Source Corcoran

    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 REALTY ONE GROUP RESULTS REIDSVILLE

    Overview

    Reidsville Event Space For Sale

    This property is suited with a new HVAC system throughout. It features updated electrical panels, ingress and egress, side street parking, and an updated roof. The property includes office space and a kitchenette. The seller is open to negotiating the business portion with the event space, which may include a DJ system, live video broadcasting equipment, lights, band tour contracts and contacts, vendor lists, tables, chairs, and sound systems. A 3D virtual tour is available.
    Location Intelligence

    Current Use by Public Records

    Reidsville Event Center Hotel & Motel

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Reidsville
    County
    Rockingham
    State
    North Carolina
    Longitude
    -79.665458
    Latitude
    36.365849

    Nearby Similar for Sale

    • $235,900
      9,730 SF

      Downtown Reidsville Office Investment

      Office building in revitalizing downtown Reidsville, near new casino.
      220 S Scales Street, Reidsville, NC 27320
      View Details
    • $349,900
      9,271 SF

      Downtown Reidsville Investment Opportunity

      Unique grandfathered apartments in revitalizing downtown Reidsville, near new casino.
      101 S Scales Street, Reidsville, NC 27320
      View Details
    • $549,900
      2,785 SF

      Freeway Drive Commercial Opportunity

      2,700 sq. ft. building on busy Freeway Drive.
      1418 Freeway Drive, Reidsville, NC 27320
      View Details
    • $289,900
      3,258 SF

      Reidsville Quadruplex Investment Opportunity

      Quadruplex in Reidsville with rental income potential.
      604 Wentworth Street, Reidsville, NC 27320
      View Details
    • $197,500

      Reidsville Four-Unit Investment Property

      Four-unit property in Reidsville near downtown and major roadways.
      105 N Franklin Street, Reidsville, NC 27320
      View Details
    • $1,400,000
      13,800 SF

      Tamco Road Warehouse Opportunity

      Two warehouse buildings totaling 13,800 SF for sale.
      640 Tamco Rd, Reidsville, NC
      View Details
    • $109,000

      Meeting Facility with Event Potential

      Meeting facility with potential as event center on large lot.
      609 Winstead Street, Reidsville, NC 27320
      View Details
    • $1,350,000

      Cash-Flowing Mobile Home Park

      Mobile home park with fishing retreat near Hwy 29.
      115 Washburn Lake Road, Reidsville, NC 27320
      View Details
    • $269,900
      3,184 SF

      Reidsville Quadplex with Rental History

      Quadplex in Reidsville, NC with strong rental income potential.
      510 Piedmont Street, Reidsville, NC 27320
      View Details
    • $250,000
      17,300 SF

      Reidsville Retail/Office Space Available

      17,300 SF retail/office space in downtown Reidsville, NC.
      301-305 SW Market St, Reidsville, NC
      View Details
    • $429,000

      Fully Leased Commercial Investment Property

      Brick-and-mortar commercial investment with excellent visibility and long-term market value.
      1315 Freeway Drive, Reidsville, NC 27320
      View Details
    • $299,000

      Medical Office Near Hospital

      Exceptional medical office space with expansion potential near hospital.
      601 Harrison Street, Reidsville, NC 27320
      View Details

    FAQs

    What type of property is this?
    Wedding venue - Event space with updated systems and potential business included.
    Where is this wedding venue located?
    The property is located at 223 Scales Street Reidsville, NC.
    What is the asking price?
    The asking price for this property is $320,000.
    What are key features of this property?
    This property features: Established event space with potential business acquisition including DJ system, lights, contracts and vendor lists.; New HVAC system throughout the building.; Updated electrical panels.
    (336) 637-5058
    We can help!
    Listing Contact
    MARY CHALK
    Learn More
    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.
    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!