Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4684 North Patterson Avenue Winston-Salem, NC 27105

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    4,178 SF freestanding restaurant building with drive-thru for lease.

    Type:Retail
    Property size:
    4,178 SF
    Added:
    Nov 22, 2025
    Days on Market:
    135
    Last Refresh:
    Mar 19 at 10:13 pm

    Property Features for 4684 North Patterson Avenue

    General Information

    Standard status
    Active
    Size
    4,178 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Matt King

    Listing agent Matt King

    Listing office CBRE | Greensboro

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE | Greensboro

    Overview

    Freestanding Restaurant Building with Drive-Thru

    This 4,178 square foot freestanding building is equipped with a drive-thru. The property includes a hood system, walk-in cooler/freezer, grease trap, and other furniture, fixtures, and equipment. It is located off University Parkway at the intersection of University Parkway and Highway 52, next to Applebee’s and Allegacy Federal Credit Union. The property is across the street from Lowe’s Home Improvement, Sam’s Club, and various other restaurants and retailers. It offers visibility from both Highway 52 and University Parkway, both of which experience high traffic counts. This property is suitable for drive-through restaurants, restaurants, and retail properties.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drive through restaurants

    Map

    City
    Winston-Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.2349
    Latitude
    36.165

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      NC, Winston-Salem - W Third St

      102 3Rd St, Winston-Salem, NC 27101
      View Details
    • $5/mo

      Winston-Salem Warehouse/Distribution Space Available

      Warehouse/distribution space with office, convenient highway access, and fenced storage.
      4929 Home Road Northwest, Winston-Salem, NC, 27106
      View Details
    • Contact for pricing

      St. George Square

      615 St. George Sq Ct, Unit 300, Winston-Salem, NC 27103
      View Details
    • Contact for pricing

      Retail Space Near Medical Centers

      Retail space near hospitals and Whole Foods.
      55 Miller Street, Winston-Salem, NC 27104
      View Details
    • $18/mo

      Retail/Office Space Available For Lease

      9294 SF retail or office space available October 1, 2025.
      545 Power Plant Cir, Winston-Salem, NC
      View Details
    • $21/mo

      Stratford Road Office Space Available

      Office spaces available for lease on Stratford Road.
      514 S Stratford Rd, Winston-Salem, NC
      View Details
    • Contact for pricing

      Class A Office Space Available

      Class A office tower with unparalleled amenities in Winston-Salem.
      100 North Main Street, Winston-Salem, NC, 27101
      View Details
    • $17/mo

      Medical/Office Space For Lease

      Medical/Office space available for lease near hospitals and major retail.
      150 Charlois Blvd, Winston-Salem, NC
      View Details
    • $25/mo

      First-Floor Office Suite For Rent

      Well-appointed office suite suitable for professional or medical use.
      1598 Westbrook Plaza Dr, Winston-Salem, NC
      View Details
    • Contact for pricing

      Suburban Office Space Available

      Office space for rent in convenient location near I-40.
      3410 Healy Dr, Winston-Salem, NC
      View Details
    • Contact for pricing

      Retail Space in Parkway Square

      Retail endcap space available in Parkway Square shopping center.
      Winston-Salem, NC 27127
      View Details
    • $15/mo

      Winston-Salem Flex Space Available

      15,600 SF flex space with office and parking.
      3064 Salem Industrial Dr, Winston-Salem, NC
      View Details

    FAQs

    What type of property is this?
    Drive through restaurant - 4,178 SF freestanding restaurant building with drive-thru for lease.
    Where is this drive through restaurant located?
    The property is located at 4684 North Patterson Avenue Winston-Salem, NC.
    What are key features of this property?
    This property features: Excellent location off University Parkway at the intersection of University Parkway and Hwy 52.; Freestanding 4,178 SF building with drive‑thru.; High visibility from Hwy 52 and University Parkway.
    (336) 544-2724
    We can help!
    Listing Contact
    Matt King
    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!