First-Floor Office
For Sale
$199,900
J-1-1365 Westgate Center Dr, Winston Salem, NC 27103
First-floor office suite with reception, open workspace, two private offices, and two bathrooms in a condo building.
Property Size1,000 SF
Price / SF$199.90
Days on Market102
Property Features for J-1-1365 Westgate Center Dr
General Information
Standard status
Active
Size
1,000 SF
Listing Agency:
Blue Door Group Real Estate
(336) 747-3245
Listed By:
Jodi Lee Tate · License #191136
(336) 409-0786
Source:
Exprealty
Added: Jul 6
Changed: Oct 6
Last Checked: Oct 15 at 5:10AM
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 Blue Door Group Real Estate
Investment Insights
Based on property information with market context.
This first-floor office condominium offers a practical layout designed for professional use. The suite includes a welcoming reception area, a spacious open workspace, and two additional private offices. The second office features an exterior entrance, adding operational flexibility. Interior amenities include two bathrooms, a storage room, and a small break room.
Located in the Westgate Center business district within the Gates Condos, the suite is positioned near major thoroughfares and surrounded by shopping, dining, and professional services.
With a mix of open work area and private offices, the space supports a range of office workflows, including established professional practices and other office users seeking a self-contained condo setting.
Located in the Westgate Center business district within the Gates Condos, the suite is positioned near major thoroughfares and surrounded by shopping, dining, and professional services.
With a mix of open work area and private offices, the space supports a range of office workflows, including established professional practices and other office users seeking a self-contained condo setting.
Key Highlights
- Approximately 1,000 SF first‑floor office condominium in Gates Condos at Westgate Center business district
- Suite includes a reception area and spacious open workspace
- Two private offices, including one with an exterior entrance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,877
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,540
$237.5K
Cap Rate 7%
$169,671
$169.7K
Cap Rate 9%
$131,967
$132.0K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$19.9K $19.92/SF
− Vacancy
−$4.1K −$4.08/SF
EGI
$15.8K $15.84/SF
− OpEx
−$4.0K −$3.96/SF
NOI
$11.9K $11.88/SF
Area
Forsyth County, NC
Vacancy
20.50%
Lease Rate
$19.92 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,540
Cap Rate 7%
$169,671
Cap Rate 9%
$131,967
Alternative Uses
Best Use
Office B
$169.7K
$148.5K – $198.0K
NOI $11,877 @ 7.0% cap · market cap 5.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$258.3K
$226.1K – $301.4K
NOI $18,084 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,585
Businesses Nearby
Explore this area
Business Placement
Demographics for 27103, NC
36,023
Population
17,884
Households
2
Avg Household Size
39
Median Age
41%
College-Educated
92%
High-School Grad
18.6 sq mi
ZIP Area
1,937
Density / Sq Mi
$66,582
Median Household Income
$40,498
Median Earnings
$1,113
Median Rent
$220,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - First-floor office suite with reception, open workspace, two private offices, and two bathrooms in a condo building.
Where is this office units located?
The property is located at J-1-1365 Westgate Center Dr Winston Salem, NC.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Approximately 1,000 SF first‑floor office condominium in Gates Condos at Westgate Center business district; Suite includes a reception area and spacious open workspace; Two private offices, including one with an exterior entrance
