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    245 4 St Winston-Salem, NC 27101

    • Retail space
    • 9,975 SF
    • 0.09 lot acres
    For Sale
    View listing
    $1,800,000
    Value Estimation
    Last Sale
    Dec 29, 2020
    Location Intelligence
    Property ID
    US53-1464318
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Yogi mart / Convenience Store

    Property Details for 245 4 St

    Year built
    1914
    Construction
    STEEL FRAME
    Lot size
    0.09 lot acres
    Property size
    9,975 SF
    Zone code
    CB WO
    Property type
    Retail space
    APN
    6835-17-7084.00
    APU
    683517708400

    Description

    This exceptional investment opportunity presents three contiguous, two-story buildings totaling 13,975 square feet located at 245, 249, and 259 West Fourth Street in the heart of downtown Winston-Salem, North Carolina. The property, formerly home to the iconic Hines Shoe Company, boasts a rich history and prime location. Currently, the street level spaces are occupied by three successful businesses: a restaurant, a neighborhood bar, and a convenience store. All leases are short-term and structured as NNN (Net, Net, Net) leases, offering significant upside potential for the new owner. A 2,475 square foot mezzanine in the convenience store building provides additional storage space, not included in the total square footage. The asking price is $1,800,000, translating to a price per square foot of $143.11. The property's unique layout and substantial square footage make it ideally suited for mixed-use development, with the potential for second-floor lofts, apartments, or condominiums. This is a rare chance to acquire a significant piece of Winston-Salem's history and capitalize on the vibrant growth of its downtown area. The property is currently 50% occupied. This is a multi-tenant property with a 0-year remaining lease term. Located in Forsyth County, NC, zip code 27101.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $340,000

    • CAP approach

      CAP return
      Estimation
      6%
      $545,000
      6.5%
      $505,000
      7%
      $495,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $430,000
      Geo Method
      $510,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $515,000
      Retail
      $450,000
      Mixed-Use
      $465,000
      Hospitality
      $495,000
      Educational
      $445,000
      Residential Income
      $475,000
      Energy
      $460,000
      Income-Based Land
      $540,000
      Food Service
      $505,000

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.2464
    Latitude
    36.0984
    CBSA code
    49180
    CBSA name
    WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,283
    $110,600
    $176,300
    $286,900
    -
    $110,600
    $176,300
    $286,900

    Comparable in this City

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    • Value Estimation by Request
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      715 Patterson Ave

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    • Value Estimation by Request
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      601 Trade St

      RETAIL STORES (PERSONAL SERVICES) • 18,000 SF
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    • Value Estimation by Request
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      2721 Old Greensboro Rd

      RETAIL STORES (PERSONAL SERVICES) • 540 SF
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      View Details
    • Value Estimation by Request
      0.04 Acres

      Brookstown Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.04 Acres
      Brookstown Ave, Winston Salem, NC 27101
      View Details

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    245 4 St
    Winston-Salem, NC 27101
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    Realmo Value Estimation

    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.

    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.

    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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