Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Leased Medical Office Building Title is generated by Realmo AI

    390 W Salem Ave, Winston-Salem, NC

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    100% leased medical office building with strong credit tenant.

    Type:OFFICE
    Property size:
    9,712 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $331/SF
    Added:
    Nov 24, 2025
    Days on Market:
    175
    Last Refresh:
    Apr 5 at 8:06 pm

    Property Features for 390 W Salem Ave

    General Information

    Standard status
    Active
    Size
    9,712 SF
    Lot size
    0.29 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Michael Moreno

    Listing agent Michael Moreno

    Listing office Matthews Real Estate Investments Services | New York

    Listing date Nov 24, 2025

    Source Moodyscre

    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 Matthews Real Estate Investments Services | New York

    HighLights

    • 100% Leased Medical Office Building with a stabilized 1st year NOI (2025) of $206,551.
    • Strong credit tenant with parent company (Novant Health, Inc.) having an AA- credit rating with S&P Global.
    • Located in Winston‑Salem, NC, the headquarters of Novant Health, Inc.
    • Less than 4 miles to Novant Health Forsyth Medical Center.
    • Medical Office Building
    • Stabilized NOI

    Overview

    This 9,712 square foot medical office building is located in Winston-Salem, North Carolina, the headquarters of Novant Health, Inc. The property is 100% leased to a tenant whose parent company, Novant Health, Inc., has an AA- credit rating with S&P Global. The stabilized first-year net operating income (NOI) for 2025 is projected to be $206,551. The property is less than 4 miles from Novant Health Forsyth Medical Center.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Map

    City
    Winston-Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.2042
    Latitude
    36.1052

    Nearby Similar for Sale

    • $999,000
      7,878 SF

      Highway 150 Commercial Opportunity

      Light Industrial property near US 52 and I 40.
      12394 NC Highway 150, Winston-Salem, NC 27127
      View Details
    • $585,000
      5,240 SF

      Winston-Salem Retail/Commercial Opportunity

      Located near major highways, ideal for commercial growth and reach.
      5307 Peters Creek Parkway, Winston-Salem, NC 27127
      View Details
    • $499,500
      2,510 SF

      Ardmore Triplex Near Baptist Hospital

      Well-maintained triplex near Baptist Hospital with income potential.
      301 S Sunset Drive, Winston-Salem, NC 27103
      View Details
    • $785,000
      6,412 SF

      Retail Property in Winston-Salem

      Well-maintained retail property with high visibility and strong traffic.
      2910 Reynolda Road, Winston-Salem, NC 27106
      View Details
    • $720,000

      Winston-Salem Multifamily Investment Opportunity

      Eight-unit multifamily portfolio in Winston-Salem's high-growth market.
      2810 Carriage Drive, Winston-Salem, NC 27106
      View Details
    • $599,000
      16,991 SF

      Winston-Salem Church/Commercial Redevelopment Opportunity

      Large Winston-Salem church/commercial building on 1.04 acres for sale.
      1800 N Liberty Street, Winston-Salem, NC 27105
      View Details
    • $535,000

      Four-Unit Investment Property in Ardmore

      Four-unit investment property in the heart of Ardmore.
      678 Irving Street, Winston-Salem, NC 27103
      View Details
    • $299,900
      1,402 SF

      Winston-Salem Investment Opportunity

      Single-family house with rental history on 1.38 acres.
      5358 Gumtree Road, Winston-Salem, NC 27107
      View Details
    • $285,000

      Charming Duplex in West End

      Income-generating duplex with historic charm in desirable West End.
      166 Piedmont Avenue, Winston-Salem, NC 27101
      View Details
    • $1,750,000

      Winston-Salem Multifamily Investment Opportunity

      10-unit apartment building in a sought-after Winston-Salem location.
      110 Hedgecock Avenue, Winston-Salem, NC 27104
      View Details
    • $800,000
      6,716 SF

      Childcare Facility on Large Lot

      6,700 SF building on 0.96 acre lot for sale.
      5016 Old Walkertown Rd, Winston-Salem, NC
      View Details
    • $499,000
      2,890 SF

      Retail Property on Reynolda Road

      Retail property available for sale on Reynolda Road.
      4910 Reynolda Rd, Winston-Salem, NC
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 100% leased medical office building with strong credit tenant.
    Where is this medical office space located?
    The property is located at 390 W Salem Ave Winston-Salem, NC.
    What is the asking price?
    The asking price for this property is $3,218,827.
    What are key features of this property?
    This property features: 100% Leased Medical Office Building with a stabilized 1st year NOI (2025) of $206,551.; Strong credit tenant with parent company (Novant Health, Inc.) having an AA- credit rating with S&P Global.; Located in Winston‑Salem, NC, the headquarters of Novant Health, Inc.
    (818) 522-4497 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Moreno
    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

    Thank You for Inquiry
    390 W Salem Ave, Winston-Salem, NC
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!