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    Functional Auto Garage Opportunity Title is generated by Realmo AI

    5858 Prospect Street, Archdale, NC 27263

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    Claim this Listing
    Pending
    $725,000

    COMMERCIAL - Archdale, NC

    Property size:
    9,156 SF
    Lot size:
    1.95 Acres
    Added:
    Apr 30, 2026
    Days on Market:
    15
    Last Refresh:
    May 14 at 5:06 pm

    Property Features for 5858 Prospect Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    LI
    Fencing
    Fenced
    Standard status
    Pending
    Size
    9,156 SF
    Lot size
    1.95 Acres

    Utilities

    Sewer type
    Septic Tank
    Water source
    Public

    Building Details

    Year built
    1978
    Floors in Building
    1

    We can help!

    Listing Contact
    Michael Lemmons

    Listing agent Michael Lemmons

    Listing office Realty One Group Results Moravian Falls, NC

    Listing date Apr 30, 2026

    MLS# 1210037

    Copyright © 2026 Triad Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Fully functional auto garage with equipment included (optional).
    • Large 9156 sq ft building on 1.95 acres suitable for garage, industrial, warehouse, or light manufacturing.
    • Features 3 roll‑up bay doors and a raised dock.
    • Equipped with multiple rotary lifts, air compressor, milling machine, lathe, welders, tire machine, engine analyzers, brake lathe, and other tools.
    • Includes 1056 sq ft of office space.
    • Building electrical is 220v, 3‑phase.

    Overview

    This fully functional auto garage presents a strong opportunity. Currently operated as Mike Byer Autoworks, it specializes in servicing and repairing high-end European models. The building, situated on 1.95 acres, previously functioned as an industrial warehouse and a light manufacturing facility. It offers 9156 sq ft of space with high ceilings. The building includes 3 roll-up bay doors, a raised dock, fuel oil heat, and central air conditioning. According to the seller, the building electrical is 220v, 3-phase. The property features 1056 sq ft of office space and 2 half bathrooms. A chain-link fence encloses the premises. Included equipment examples: 4 7000 lb rotary lifts, 10 hp air compressor, Bridgeport milling machine, Southbend lathe, 4 welders, Coats tire machine, Snap-On scanner engine analyzer, 1 Autoboss & 1 Maxisys Pro engine/chassis analyzer, Accuturn brake lathe, and many tools. Possible uses include a garage, industrial facility, warehouse, light manufacturing facility, and similar businesses. The property is located in Archdale, North Carolina.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto shops

    Suggested Use

    Real Estate Agency Building Supply Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Auto Parts Store Department Store Food Market Grocery & Convenience Store Storage Facility

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

    Similar Places Nearby

    • Mike Byer Autoworks — 5858 Prospect St, High Point, NC 27263
    • Beauty and Beast Auto Shop — 7004 Starflower Dr, Archdale, NC 27263
    • Mickey's truck body — 6561 Middle Point Rd, High Point, NC 27263
    • 2nd Chance Automotive LLC — 6903 Mendenhall Rd, Archdale, NC 27263
    • Skips Truck & Trailer Repair, Rolling Systems # Eagle smart Tarp System Dealer — 5459 Prospect Ct, High Point, NC 27263

    Location Insight

    • Map
    • Local Demand
    City
    Archdale
    County
    Guilford
    State
    North Carolina
    Longitude
    -80.0300029
    Latitude
    35.90711

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    FAQs

    What type of property is this?
    Auto shop - 9156 sq ft Archdale garage on 1.95 acres.
    Where is this auto shop located?
    The property is located at 5858 Prospect Street Archdale, NC.
    What is the asking price?
    The asking price for this property is $725,000.
    What are key features of this property?
    This property features: Fully functional auto garage with equipment included (optional).; Large 9156 sq ft building on 1.95 acres suitable for garage, industrial, warehouse, or light manufacturing.; Features 3 roll‑up bay doors and a raised dock.
    (336) 671-8358
    We can help!
    Listing Contact
    Michael Lemmons
    Learn More
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    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.

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