Restaurant Property on
For Sale
$975,000
3870 Bethania Station Rd, Winston Salem, NC 27106
Two tax parcels comprise an approximately 35-acre offering, subject to survey and current zoning and restrictions.
Property Size3,200 SF
Lot Size35.00 Acres
Price / SF$304.69
Days on Market27
Property Features for 3870 Bethania Station Rd
General Information
Standard status
Active
Size
3,200 SF
Lot size
35.00 Acres
Building Details
Year Built
1995
Listing Agency:
Franklin Street Realty
(919) 619-2160
Listed By:
Bill Bracey
Source:
Tcrnc
Added: Aug 4
Changed: Aug 29
Last Checked: Aug 29 at 9:12PM
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 Franklin Street Realty
Investment Insights
Based on property information with market context.
This conventional restaurant offering includes two tax parcels totaling approximately 35 acres, subject to survey. The property is associated with a 1995 year-built improvement, while the available property-size figure is not used because its unit is unspecified.
The site is located at 3870 Bethania Station Rd in Winston Salem, NC 27106. Potential directions identified for the property include event space, a farm-to-table restaurant, a brewery, or conversion to a par-three golf course, all subject to current zoning and applicable restrictions.
The site is located at 3870 Bethania Station Rd in Winston Salem, NC 27106. Potential directions identified for the property include event space, a farm-to-table restaurant, a brewery, or conversion to a par-three golf course, all subject to current zoning and applicable restrictions.
Key Highlights
- Two tax parcels included in the offering
- Approximately 35 acres total, subject to survey
- Conventional restaurant property classification
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
$57,867
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
5.94%
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%
$1,157,340
$1.2M
Cap Rate 7%
$826,671
$826.7K
Cap Rate 9%
$642,967
$643.0K
Market Conditions
NOI Build-Up for 3,200 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
$79.9K $24.96/SF
− Vacancy
−$2.7K −$0.85/SF
EGI
$77.2K $24.11/SF
− OpEx
−$19.3K −$6.03/SF
NOI
$57.9K $18.08/SF
Area
Forsyth County, NC
Vacancy
3.40%
Lease Rate
$24.96 /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%
$1,157,340
Cap Rate 7%
$826,671
Cap Rate 9%
$642,967
Alternative Uses
Best Use
Specialty Retail
$826.7K
$723.3K – $964.5K
NOI $57,867 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
112
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27106, NC
49,115
Population
22,491
Households
2.2
Avg Household Size
38
Median Age
48%
College-Educated
92%
High-School Grad
28.5 sq mi
ZIP Area
1,723
Density / Sq Mi
$66,091
Median Household Income
$37,094
Median Earnings
$1,090
Median Rent
$286,000
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Two tax parcels comprise an approximately 35-acre offering, subject to survey and current zoning and restrictions.
Where is this conventional restaurant located?
The property is located at 3870 Bethania Station Rd Winston Salem, NC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Two tax parcels included in the offering; Approximately 35 acres total, subject to survey; Conventional restaurant property classification
