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    Property profile & analytics

    6148-6166 University Pkwy Winston-Salem, NC 27105

    • Retail properties & Spaces
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 6148-6166 University Pkwy

    Property type
    Retail properties & Spaces
    Property subtype
    Land

    Description

    This exceptional commercial property, located at 6148-6166 University Parkway in Winston-Salem, North Carolina, presents a unique opportunity for retail development. Situated in Forsyth County, this single-tenant site boasts a generous land area ranging from one to seven acres. The property is zoned for commercial use, offering significant flexibility for a variety of retail ventures. The address is conveniently located on University Parkway, providing excellent visibility and accessibility for potential customers. With its expansive lot size, this property is ideal for businesses requiring ample space for building construction, parking, and outdoor amenities. The 27105 zip code ensures a strong connection to a vibrant and growing community. This is a blank canvas for a developer seeking to establish a prominent retail presence in a high-traffic area of Winston-Salem. The property's size allows for significant customization and design flexibility, catering to a wide range of retail concepts. Interested parties are encouraged to explore the potential of this exceptional commercial land parcel and its strategic location within a thriving market. The property is offered for lease, providing an attractive option for businesses seeking to expand or establish a new location in a desirable area of Winston-Salem. The expansive lot size offers significant development potential. This is a rare opportunity to secure a prime commercial site in a high-growth area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Winston-Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.2797
    Latitude
    36.195

    Comparable in this City

    • Value Estimation by Request
      5.70 Acres

      6148 University Pkwy

      Land • 5.70 Acres
      6148 University Pkwy, Winston-Salem, NC 27105
      View Details
    • Value Estimation by Request
      1.34 Acres

      6356 University Pkwy

      Land • 1.34 Acres
      6356 University Pkwy, Winston-Salem, NC 27105
      View Details
    • Value Estimation by Request
      1.18 Acres

      100 Hanes Mill Rd

      Land • 1.18 Acres
      100 Hanes Mill Rd, Winston-Salem, NC 27105
      View Details
    • Value Estimation by Request
      0.90 Acres

      5455 University Pkwy

      Land • 0.90 Acres
      5455 University Pkwy, Winston-Salem, NC 27105
      View Details
    • Value Estimation by Request
      2,436 SF

      3345 Carver School Rd

      DEPARTMENT STORE (MULTI-STORY) • 2,436 SF
      3345 Carver School Rd, Winston Salem, NC 27105-4759
      View Details
    • Value Estimation
      $16,755,000
      127,000 SF

      2701 University Pkwy

      DEPARTMENT STORE • 127,000 SF
      2701 University Pkwy, Winston Salem, NC 27105-4223
      View Details

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      Land For Sale

      Land available for sale.
      6356 University Pkwy, Winston-Salem, NC 27105
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      Forsyth County Land Auction Opportunity

      Land in Forsyth County offered via online auction.
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    Similar Nearby for Lease

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      Stand Alone Retail Space Available

      Retail space with diverse uses, significant parking, pylon signage.
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      Retail Center Shadow Anchored

      Retail center with national retailers and high consumer traffic.
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      Industrial Space For Lease/Sale

      545,459 SF industrial space available for lease or sale.
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    Winston-Salem, NC 27105
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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.

    More about this property
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