Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Center Shadow Anchored Title is generated by Realmo AI

    344 E Hanes Mill Rd, Winston-Salem, NC 27105

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail center with national retailers and high consumer traffic.

    Type:Retail
    Added:
    Jun 2, 2022
    Days on Market:
    1464
    Last Refresh:
    May 13 at 8:13 pm

    Property Features for 344 E Hanes Mill Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    2003

    We can help!

    Listing Contact
    Jimmy Conder

    Listing agent Jimmy Conder License #NC

    Listing office Rivercrest Realty Associates LLC

    Listing date Jun 2, 2022

    Source Crexi

    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 Rivercrest Realty Associates LLC

    HighLights

    • Walmart Supercenter shadow anchor provides significant consumer traffic.
    • Dominant retail center in North Winston‑Salem.
    • Easily accessible location with two signalized entrances on Hanes Mill Road.
    • High traffic volume: 16,000 VPD on Hanes Mill Road.
    • Located less than ½ mile from University Parkway and John M Gold Freeway (US Hwy 52/NC 8).
    • Established in 2003.

    Overview

    Oak Summit Shopping Center is a retail center shadow anchored by a Walmart Supercenter. It is located on Hanes Mill Road in Winston-Salem, NC. The center is the dominant retail location on the northern side of Winston-Salem and includes a large number of national retailers. These retailers attract a high volume of consumer traffic to the center. The center is located less than 0.5 miles from both University Parkway and John M Gold Freeway (US Hwy 52/NC 8). It is easily accessible from two signalized entrances on Hanes Mill Road. Average traffic for the area totals 16,000 vehicles per day on Hanes Mill Road and 21,000 vehicles per day on University Parkway. No internet cafes are allowed.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Similar Places Nearby

    • Oak Summit Shopping Center — 344 E Hanes Mill Rd, Winston-Salem, NC 27105

    Map

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

    Nearby Similar for Lease

    • Sponsored
      $129-$4,498/Mo
      11-1,292 SF

      NC, Winston-Salem - W Third St

      102 3Rd St, Winston-Salem, NC 27101
      View Details
    • $25 SF/Yr
      2,373 SF

      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
    • $129-$5,544/Mo
      11-1,292 SF

      St. George Square

      615 St. George Sq Ct, Unit 300, Winston-Salem, NC 27103
      View Details
    • $18 SF/Yr
      9,253 SF

      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
    • $22 SF/Yr
      2,908 SF

      Retail Space with On-Site Amenities

      Retail space with on-site restaurants, security, and parking.
      380 Knollwood St, Winston-Salem, NC
      View Details
    • $5 SF/Yr
      11,250 SF

      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
    • $20 SF/Yr
      1,345 SF

      Class A Office Space Available

      Class A office space with extensive window areas and parking.
      1605 Westbrook Plaza Dr, Winston-Salem, NC
      View Details
    • $550/Mo
      521 SF

      Suburban Office Space Available

      Office space for rent in convenient location near I-40.
      3410 Healy Dr, Winston-Salem, NC
      View Details
    • $17 SF/Yr
      5,000 SF

      Medical/Office Space For Lease

      Medical/Office space available for lease near hospitals and major retail.
      150 Charlois Blvd, Winston-Salem, NC
      View Details
    • Contact for pricing
      7,500 SF

      Versatile Commercial Space Near Clemmons

      Industrial-zoned commercial space with flexible layout and convenient location.
      6206 Hackers Bend Court, Winston-Salem, NC 27103
      View Details
    • $15 SF/Yr
      15,600 SF

      Winston-Salem Flex Space Available

      15,600 SF flex space with office and parking.
      3064 Salem Industrial Dr, Winston-Salem, NC
      View Details
    • $19 SF/Yr
      7,400 SF

      Historic Building Retail/Office Space

      Redeveloped historic building offering retail and office space for lease.
      500 W 4th St, Winston-Salem, NC
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail center with national retailers and high consumer traffic.
    Where is this shopping center located?
    The property is located at 344 E Hanes Mill Rd Winston-Salem, NC.
    What are key features of this property?
    This property features: Walmart Supercenter shadow anchor provides significant consumer traffic.; Dominant retail center in North Winston‑Salem.; Easily accessible location with two signalized entrances on Hanes Mill Road.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Jimmy Conder
    Real Estate License ID: NC
    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
    344 E Hanes Mill Rd, Winston-Salem, NC 27105
    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!