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

    240 Scales Street Reidsville, NC 27320

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $110,000

    Redevelopment opportunity with high foot traffic and off-street parking.

    Type:Commercial
    Added:
    Nov 19, 2025
    Days on Market:
    153
    Last Refresh:
    Apr 5 at 9:24 pm

    Property Features for 240 Scales Street

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1921

    We can help!

    Listing Contact
    LARRY STORY
    LARRY STORY

    Listing agent LARRY STORY

    Listing office HOWARD HANNA ALLEN TATE - GREENSBORO

    Listing date Nov 19, 2025

    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 HOWARD HANNA ALLEN TATE - GREENSBORO

    Overview

    Redevelopment Opportunity Near Market Square

    This property presents a redevelopment opportunity, situated across the intersection from Reidsville's Market Square. The corner location benefits from high foot traffic. The property has been gutted and cleaned out, and all environmental paperwork is available. Previously used as a laundromat, it is one of the few properties in downtown Reidsville with off-street parking. The site offers visibility from all directions and could accommodate various uses. The property requires a new roof and all infrastructure.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Reidsville
    County
    Rockingham
    State
    North Carolina
    Longitude
    -79.6645
    Latitude
    36.3596

    Nearby Similar for Sale

    • $225,000
      2,355 SF

      Reidsville Office/Commercial Building For Sale

      Versatile brick building in downtown Reidsville with excellent street presence.
      112 S Main Street, Reidsville, NC 27320
      View Details
    • $1,900,000
      13,045 SF

      Reidsville Multifamily Opportunity

      Multifamily property available for sale in Reidsville, North Carolina.
      1700 Richardson Drive, Reidsville, NC 27320
      View Details
    • $335,000

      Unrestricted Acreage in Reidsville, NC

      64.88 acres of unrestricted land perfect for building or recreation.
      1200 Purcell Road, Reidsville, NC 27320
      View Details
    • $197,500

      Reidsville Four-Unit Investment Property

      Four-unit property near downtown and major roadways in Reidsville, NC.
      105 N Franklin Street, Reidsville, NC 27320
      View Details
    • $215,000

      Reidsville Land with Road Frontage

      33.5 acres in Reidsville, NC, with commercial potential.
      NC Highway 14, Reidsville, NC 27320
      View Details
    • $215,000

      Reidsville Commercial Land For Sale

      33.5 acres of commercial land in Reidsville, North Carolina.
      4250 & 4220 NC Highway 14, Reidsville, NC 27320
      View Details
    • $325,000
      15,120 SF

      Reidsville Commercial Warehouse Opportunity

      Commercial warehouse with 14,000+ sqft near downtown Reidsville.
      103 Harris Street, Reidsville, NC 27320
      View Details
    • $329,900
      9,271 SF

      Reidsville Grandfathered Downtown Apartments

      Unique investment opportunity in revitalizing downtown Reidsville, North Carolina.
      101 S Scales Street, Reidsville, NC 27320
      View Details
    • $390,000

      Reidsville Vacant Land with Stream

      55.52 acres of land with stream and creek.
      0 Brown Road, Reidsville, NC 27320
      View Details
    • $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
    • $350,000

      Reidsville RV Park Investment Opportunity

      Established RV park with expansion potential near major cities.
      Little Birds Lane, Reidsville, NC 27320
      View Details
    • $975,000

      Reidsville Land For Sale

      141.83 acre land parcel in Reidsville, North Carolina.
      898 Sandy Cross Road, Reidsville, NC 27320
      View Details

    FAQs

    What type of property is this?
    Storefront property - Redevelopment opportunity with high foot traffic and off-street parking.
    Where is this storefront property located?
    The property is located at 240 Scales Street Reidsville, NC.
    What is the asking price?
    The asking price for this property is $110,000.
    What are key features of this property?
    This property features: Prime redevelopment opportunity directly across from Market Square.; High foot traffic corner location with excellent visibility.; Rare downtown property with off‑street parking.
    (336) 273-7771
    We can help!
    Listing Contact
    LARRY STORY
    LARRY STORY
    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!