Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    897 Peters Creek Pkwy Winston-Salem, NC 27103
    Back to Search
    Property profile & analytics

    897 Peters Creek Pkwy, Winston-Salem, NC 27103

    View on Map
    • Office Spaces
    • 5,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 897 Peters Creek Pkwy

    Property type
    Office Spaces

    Description

    This exceptional office property, Parkway Office Suites, offers 5,500 square feet of versatile space in a single building. Currently, 450 square feet of traditional or executive office space is immediately available for lease, perfect for a small business or expanding team. The property's convenient location near downtown Winston-Salem provides easy access to a vibrant urban core, with the added benefit of being just one mile from Truist Stadium. Numerous restaurants and lunch options are within easy reach, catering to the needs of employees and clients alike. Commuting is a breeze thanks to the property's proximity to major transportation arteries, including Highway 421, Interstate 40, and US 52. The building is designed for multiple tenants, offering a collaborative and professional environment. All utilities are included in the lease, simplifying budgeting and administration. This is an excellent opportunity to secure a well-located, functional office space with convenient amenities and exceptional accessibility. The available space is ideal for a variety of uses, including traditional office settings or retail operations. Don't miss this chance to establish your business in a thriving and accessible location.

    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
    State
    North Carolina
    Longitude
    -80.2579
    Latitude
    36.0784

    Comparable in this City

    • Value Estimation by Request

      380 Knollwood St

      Office Units
      380 Knollwood St, Winston-Salem, NC 27103
      View Details
    • Value Estimation
      $9,230,000
      58,298 SF

      1215 Creekshire Way

      OFFICE (GENERAL)
      1215 Creekshire Way, Winston Salem, NC 27103-3057
      View Details
    • Value Estimation by Request
      1,000 SF

      1308 Ashley Sq

      OFFICE (GENERAL)
      1308 Ashley Sq, Winston Salem, NC 27103-2919
      View Details
    • Value Estimation by Request
      1,000 SF

      1322 Ashley Sq

      OFFICE (GENERAL)
      1322 Ashley Sq, Winston Salem, NC 27103-2919
      View Details
    • Value Estimation by Request
      1,000 SF

      1312 Ashley Sq

      OFFICE (GENERAL)
      1312 Ashley Sq, Winston Salem, NC 27103-2919
      View Details
    • Value Estimation by Request
      1,000 SF

      1324 Ashley Sq

      OFFICE (GENERAL)
      1324 Ashley Sq, Winston Salem, NC 27103-2919
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      300,000 SF

      300,000 SF Industrial Building

      300,000 SF industrial building with 23,000 SF office space.
      3811 Kimwell Dr, Winston-Salem, NC 27103
      View Details
    • Contact for pricing
      2,050 SF

      Move-in Ready Office Condo

      Well-maintained office condo with flexible layout and convenient location.
      2990 Bethesda Pl, Winston-Salem, NC 27103
      View Details
    • Contact for pricing

      Development Opportunity Near Hanes Mall

      10.8-acre site near retail corridor and medical park.
      2010 Burke Mill Rd, Winston-Salem, NC 27103
      View Details
    • Contact for pricing

      Modern Office Building For Sale

      Two-story office building with open floorplan and excellent I-40 exposure.
      6010 Golding Center Dr, Winston-Salem, NC 27103
      View Details
    • $300,000
      1.11 Acres

      Winston-Salem Commercial Land Available

      Two combined lots totaling 1.11 acres near I-40.
      3660/3670 Westgate Center Cir, Winston-Salem, NC 27103
      View Details
    • Contact for pricing
      28,750 SF

      Stratford Road Commercial Land Parcel

      0.66 acre commercial land parcel with development potential.
      3255 S Stratford Rd, Winston-Salem, NC 27103
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      St. George Square

      Discover many ways to work your way in St. George Square
      615 St. George Sq Ct, Winston-Salem, NC 27103
      View Details
    • Contact for pricing
      257 SF

      Suburban Office Space Available

      Office space for rent in convenient location near I-40.
      3410 Healy Dr, Winston-Salem, NC 27103
      View Details
    • Contact for pricing

      Winston-Salem Suburban Office Suites

      Flexible and affordable office suites in a convenient Winston-Salem location.
      3410 Healy Dr, Winston-Salem, NC 27103
      View Details
    • Contact for pricing

      Winston-Salem Class B Office Building

      Four-story office building with flexible space and ample parking.
      514 S Stratford Rd, Winston-Salem, NC 27103
      View Details
    • Contact for pricing
      6,217 SF

      Stratford Road Office Space Available

      Office spaces available for lease on Stratford Road.
      514 S Stratford Rd, Winston-Salem, NC 27103
      View Details
    • Contact for pricing
      15,000 SF

      Winston-Salem Industrial Space Available

      15,000 SF industrial space featuring warehouse and office areas.
      2534 Empire Dr, Winston-Salem, NC 27103
      View Details
    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.
    897 Peters Creek Pkwy
    Winston-Salem, NC 27103
    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
    897 Peters Creek Pkwy, Winston-Salem, NC, 27103
    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!