66,048 SF Warehouse For
For Sale
Contact for pricing
Pending
3655 Reed St, Winston-Salem, NC 27107
66,048 SF warehouse with 4 docks and secured access.
Property Size66,048 SF
Days on Market712
Property Features for 3655 Reed St
General Information
Standard status
Pending
Size
66,048 SF
Property subtype
Industrial
Listing Agency:
NAI Piedmont Triad
(336) 901-3452
Listed By:
Will Blackwell · License #137286
Source:
Crexi
Added: Sep 19, 2024
Changed: Aug 25
Last Checked: Aug 29 at 1:26PM
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 NAI Piedmont Triad
Investment Insights
Based on property information with market context.
This property features approximately 66,048 square feet of warehouse space. The building includes 4 docks and 3 drive-in doors, equipped with levelers and seals. It has a clear ceiling height of 20 feet and is equipped with an ESFR sprinkler system. Electrical capacity is supported by a 3-phase, 1000+ amp power supply. The property is secured with fencing, key-fob access, and video surveillance throughout. New LED lights are scheduled to be installed in August 2025. The property is centrally located within the Piedmont Triad area.
Key Highlights
- Central Piedmont Triad Location
- Secured (Fenced) Property with Key‑fob access and video surveillance throughout
- ± 66,048 SF
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
$465,351
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
8.96%
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%
$9,307,020
$9.3M
Cap Rate 7%
$6,647,871
$6.6M
Cap Rate 9%
$5,170,567
$5.2M
Market Conditions
NOI Build-Up for 66,048 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
$594.4K $9.00/SF
− Vacancy
−$47.0K −$0.71/SF
EGI
$547.5K $8.29/SF
− OpEx
−$82.1K −$1.24/SF
NOI
$465.4K $7.05/SF
Area
Winston-Salem, NC
Vacancy
7.90%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$9,307,020
Cap Rate 7%
$6,647,871
Cap Rate 9%
$5,170,567
Alternative Uses
Best Use
Warehouse
$6.65M
$5.82M – $7.76M
NOI $465,351 @ 7.0% cap · market cap 8.96%
Second Best
Industrial
$5.47M
$4.79M – $6.39M
NOI $383,230 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$12.20M
$10.68M – $14.23M
NOI $854,036 @ 7.0% cap · market cap 16.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27107, NC
49,834
Population
20,767
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
85%
High-School Grad
66.2 sq mi
ZIP Area
753
Density / Sq Mi
$59,897
Median Household Income
$35,832
Median Earnings
$889
Median Rent
$201,700
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 66,048 SF warehouse with 4 docks and secured access.
Where is this warehouse located?
The property is located at 3655 Reed St Winston-Salem, NC.
What is the asking price?
The asking price for this property is $5,195,000.
What are key features of this property?
This property features: Central Piedmont Triad Location; Secured (Fenced) Property with Key‑fob access and video surveillance throughout; ± 66,048 SF
