Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    245 4 St Winston-Salem, NC 27101

    Sponsored
    For Sale
    $1,800,000

    Historic Hines Shoe Co. Building, Multi-Tenant Opportunity

    Property size:
    13,975 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents three contiguous, two-story buildings totaling 13,975 square feet located at 245, 249, and 259 West Fourth Street in the heart of downtown Winston-Salem, North Carolina. The property, formerly home to the iconic Hines Shoe Company, boasts a rich history and prime location. Currently, the street level spaces are occupied by three successful businesses: a restaurant, a neighborhood bar, and a convenience store. All leases are short-term and structured as NNN (Net, Net, Net) leases, offering significant upside potential for the new owner. A 2,475 square foot mezzanine in the convenience store building provides additional storage space, not included in the total square footage. The asking price is $1,800,000, translating to a price per square foot of $143.11. The property's unique layout and substantial square footage make it ideally suited for mixed-use development, with the potential for second-floor lofts, apartments, or condominiums. This is a rare chance to acquire a significant piece of Winston-Salem's history and capitalize on the vibrant growth of its downtown area. The property is currently 50% occupied. This is a multi-tenant property with a 0-year remaining lease term. Located in Forsyth County, NC, zip code 27101.

    Property Features for 245 4 St

    General Information

    Property type
    Individual retail properties
    Square Feet
    13,975 SF

    HighLights

    • $1,800,000 asking price.
    • 13,975 square feet total building area.
    • Historic Hines Shoe Company building in downtown Winston‑Salem.
    • Three contiguous, two‑story buildings.
    • Mixed‑use potential for second‑floor lofts/apartments/condos.
    • Three ground‑floor tenants: restaurant, bar, and convenience store.
    Property Profile Location Intelligence

    Current Use by Public Records

    Yogi mart Convenience Store

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Winston-Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.2465428
    Latitude
    36.0983272

    Nearby Similar for Sale

    • $1,500,000
      4,042 SF

      Robinhood Road Commercial Property For Sale

      Commercial property with high traffic, dual access, and ample parking.
      3449 Robinhood Rd, Winston-Salem, NC
      View Details
    • Contact for pricing

      Iconic Mid-Century Modern Landmark

      Renovated former gas station near Wake Forest University.
      1231 Polo Rd, Winston-Salem, NC
      View Details
    • $1,600,000
      22,000 SF

      Winston-Salem Warehouse with Office

      22,000 SF warehouse with office space for sale.
      3425 Thomasville Rd, Winston-Salem, NC
      View Details
    • $320,000
      2,050 SF

      Move-in Ready Office Condo

      Well-maintained office condo with flexible layout and convenient location.
      2990 Bethesda Pl, Winston-Salem, NC
      View Details
    • $1,250,000
      18,000 SF

      Historic Retail Building For Sale

      Two-story, 18,000 SF retail building in downtown Winston-Salem.
      408 N Liberty St, Winston-Salem, NC
      View Details
    • $1,500,000

      Corner Lot with Highway Business

      High-traffic corner lot suitable for various business ventures.
      4805 Shattalon Dr, Winston-Salem, NC
      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
    • $1,699,000
      15,600 SF

      Downtown Winston-Salem Office Building

      15,600 SF building in downtown Winston-Salem for sale/lease.
      201 N Broad St, Winston-Salem, NC
      View Details
    • $4,700,000
      35,000 SF

      Winston-Salem Campus with Redevelopment Potential

      35,000+ sqft campus near US 74/Hwy 52 and University Parkway.
      271-289 Mercantile Dr, Winston-Salem, NC
      View Details
    • $6,750,000
      300,000 SF

      Winston-Salem Industrial/Manufacturing Facility

      300,000 +/- SF industrial facility near I-40.
      3811 Kimwell Dr, Winston-Salem, NC
      View Details
    • $3,425,000
      9,712 SF

      Leased Medical Office Building

      100% leased medical office building with strong credit tenant.
      390 W Salem Ave, Winston-Salem, NC
      View Details
    • $850,000
      12,300 SF

      Winston-Salem Warehouse with Fenced Yard

      12,300 SF warehouse with fenced parking near downtown.
      2101 Sunnyside Ave, Winston-Salem, NC
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Historic Hines Shoe Co. Building, Multi-Tenant Opportunity
    Where is this individual retail property located?
    The property is located at 245 4 St Winston-Salem, NC.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: $1,800,000 asking price.; 13,975 square feet total building area.; Historic Hines Shoe Company building in downtown Winston-Salem.
    Request Owner's contact information
    245 4 St Winston-Salem, NC 27101
    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.
    245 4 St
    Winston-Salem, NC 27101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    245 4 St Winston-Salem, NC 27101
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.