Renovated Office/Retail Space with
For Sale
$450,000
361 W End Blvd, Winston Salem, NC 27101
361 W End Blvd
Property Size1,752 SF
Lot Size0.15 Acres
Price / SF$256.85
Days on Market225
Property Features for 361 W End Blvd
General Information
Standard status
Active
Property type
Mixed-use properties
Size
1,752 SF
Net Rentable
1,752 SF
Class
C
Total Parking Spaces
8
Elevators
No
Lot size
0.15 Acres
Occupancy
55%
Investment Type
Owner User
Building Details
Year Built
1928
Year Renovated
2016
Buildings
1
Stories
2
Units
2
Listing Agency:
(336) 310-5915
Listed By:
Jared
(336) 310-5915
Added: Jan 7
Changed: Mar 16
Investment Insights
Based on property information with market context.
This completely renovated office/retail space is situated in the historic West End neighborhood. The property, zoned Pedestrian Business (PB), allows for commercial, residential, and live/work usage. The upper level provides 840 square feet of renovated space, featuring multiple offices, new paint, refinished hardwood floors, natural light, and a small outdoor patio. It includes a private suite, locked off from the lower level, with its own entrance and bathroom. The property benefits from on-site parking spaces and signage. The location is minutes from Hanes Park and downtown Winston-Salem. The property has a lot size of 0.15 acres and a total size of 1752 square feet. The lower level has been used as a short-term rental for 2.5 years with a documented rental history.
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
$17,739
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
3.94%
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%
$354,780
$354.8K
Cap Rate 7%
$253,414
$253.4K
Cap Rate 9%
$197,100
$197.1K
Market Conditions
NOI Build-Up for 1,752 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
$31.5K $18.00/SF
− Vacancy
−$3.2K −$1.80/SF
EGI
$28.4K $16.20/SF
− OpEx
−$10.6K −$6.07/SF
NOI
$17.7K $10.13/SF
Area
Forsyth County, NC
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$354,780
Cap Rate 7%
$253,414
Cap Rate 9%
$197,100
Alternative Uses
Best Use
Mixed Use
$253.4K
$221.7K – $295.7K
NOI $17,739 @ 7.0% cap · market cap 3.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$452.6K
$396.0K – $528.0K
NOI $31,682 @ 7.0% cap · market cap 7.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,544
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 361 W End Blvd
Where is this mixed-use property located?
The property is located at 361 W End Blvd Winston Salem, NC.
What is the asking price?
The asking price for this property is $450,000.
