Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    4880 Phelps Dr Winston-Salem, NC 27105
    Back to Search
    Property profile & analytics

    4880 Phelps Dr Winston-Salem, NC 27105

    View on Map
    • Land
    • 22.37 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 4880 Phelps Dr

    Lot size
    22.37 lot acres
    Property type
    Land

    Description

    This exceptional 22.37-acre property in Winston-Salem, Forsyth County, North Carolina, presents a unique development or investment opportunity. Located at 4880 Phelps Dr, zip code 27105, this land parcel offers a blend of seclusion and convenience, with close proximity to I-74. The property is zoned RS20 and RS9 and comprises ten parcels (APN: 6848-06-4827.00, 6838-96-6974.00, 6848-05-6989.00, 6848-06-4032.00, 6848-06-7110.00, 6848-06-7222.00, 6848-06-7323.00, 6848-06-7427.00, 6848-06-0863.00, 6848-06-6569.00) sold as a single unit. The asking price is $72,187, translating to approximately $3,226.96 per acre. Important considerations include the property being bisected by Mill Creek and containing approximately 12.24 acres of floodplain. Well and septic systems will be required. Buyers should note that this is an online auction with a non-refundable buyer premium added to the final bid price. The property is owned by NCDOT, which reserves the right to withdraw from the sale before the deed is recorded. Title transfer will be via QuitClaim Deed. Lot size is not guaranteed and should be independently verified. All due diligence regarding the property is the buyer's responsibility.

    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
    -80.2184
    Latitude
    36.1807

    Comparable in this City

    • Value Estimation by Request
      9.90 Acres

      Elm Dr

      Land • 9.90 Acres
      0 Elm Dr, Winston-Salem, NC 27105
      View Details
    • Value Estimation by Request
      4.29 Acres

      830 Old Hollow Rd

      Land • 4.29 Acres
      830 Old Hollow Rd, Winston-Salem, NC 27105
      View Details
    • Value Estimation by Request
      50.04 Acres

      New Walkertown Rd

      Land • 50.04 Acres
      0 New Walkertown Rd, Winston-Salem, NC 27105
      View Details
    • Value Estimation by Request
      3.58 Acres

      4944 Davis Rd

      Land • 3.58 Acres
      4944 Davis Rd, Winston-Salem, NC 27105
      View Details
    • Value Estimation by Request
      18.60 Acres

      4929 Baux Mountain Rd

      Land • 18.60 Acres
      4929 Baux Mountain Rd, Winston-Salem, NC 27105
      View Details
    • Value Estimation by Request
      13.70 Acres

      550 Holly Ridge Dr

      Land • 13.70 Acres
      550 Holly Ridge Dr, Winston-Salem, NC 27105
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Winston-Salem Land Auction Opportunity

      Land available in Winston-Salem via online auction.
      Germanton Rd, Winston-Salem, NC 27105
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      6356 University Pkwy, Winston-Salem, NC 27105
      View Details
    • Contact for pricing
      Pending

      Land Auction in Winston-Salem

      2.24 acre land parcel offered at online auction.
      Sandhill Dr, Winston-Salem, NC 27105
      View Details
    • Contact for pricing
      1.37 Acres

      Wooded Lot For Residential Development

      1.37-acre wooded lot ready for your vision!
      177 Dillingham Rd, Winston-Salem, NC 27105
      View Details
    • Contact for pricing
      0.16 Acres

      Residential Lot in Established Neighborhood

      Level lot for dream home in Winston-Salem, North Carolina.
      1421 21St St, Winston-Salem, NC 27105
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Sam's Club

      Retail space available in North Summit Square.
      256 Summit Square Blvd, Winston-Salem, NC 27105
      View Details
    • Contact for pricing

      Stand Alone Retail Space Available

      Retail space with diverse uses, significant parking, pylon signage.
      4404 Old Rural Hall Rd, Winston-Salem, NC 27105
      View Details
    • Contact for pricing
      545,459 SF

      Winston-Salem Manufacturing/Distribution Facility

      Large industrial facility suitable for manufacturing or distribution.
      401 W Hanes Mill Rd, Winston-Salem, NC 27105
      View Details
    • Contact for pricing

      Retail Center Shadow Anchored

      Retail center with national retailers and high consumer traffic.
      344 E Hanes Mill Rd, Winston-Salem, NC 27105
      View Details
    • Contact for pricing
      2,800 SF

      Winston-Salem Industrial/Warehouse Property

      Industrial/warehouse property with flexible leasing options in Winston-Salem, NC.
      5709 Robin Wood Ln, Winston-Salem, NC 27105
      View Details
    • Contact for pricing

      Industrial Space For Lease/Sale

      545,459 SF industrial space available for lease or sale.
      401 W Hanes Mill Rd, Winston-Salem, NC 27105
      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.
    4880 Phelps Dr
    Winston-Salem, NC 27105
    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
    4880 Phelps Dr, 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!