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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    111 Griffith Plz Dr Winston Salem, NC 27103-6827

    • Warehouses
    • 5,200 SF
    • 0.32 lot acres
    OFF-MARKET
    Last Sale
    Oct 28, 2022
    $250,000
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0326304
    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

    • Kelly Harkey Custom Homes Inc / General Contractor

    Property Details for 111 Griffith Plz Dr

    Year built
    1987
    Construction
    STEEL FRAME
    Lot size
    0.32 lot acres
    Property size
    5,200 SF
    Zone code
    GI
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    6813-16-7250.00
    APU
    681316725000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $255,000
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $276,000
      Market price range: $215k - $557k
      AI Estimate
      $173,000
      Market price range: $174k - $346k

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $405,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.3132
    Latitude
    36.0405
    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
    $2,357
    $52,800
    $119,100
    $171,900
    -
    $52,800
    $119,100
    $171,900

    Comparable in this City

    • Value Estimation
      $725,000
      21,738 SF

      345 Witt St

      MINI-WAREHOUSE, STORAGE • 21,738 SF
      345 Witt St, Winston Salem, NC 27103-1953
      View Details
    • Value Estimation
      $1,235,000
      139,835 SF

      2550 Empire Dr

      MINI-WAREHOUSE, STORAGE • 139,835 SF
      2550 Empire Dr, Winston Salem, NC 27103-6722
      View Details
    • Value Estimation
      $11,820,000
      86,688 SF

      2365 Winterhaven Ln

      MINI-WAREHOUSE, STORAGE • 86,688 SF
      2365 Winterhaven Ln, Winston Salem, NC 27103-6792
      View Details
    • Value Estimation
      $625,000
      10,081 SF

      355 Witt St

      MINI-WAREHOUSE, STORAGE • 10,081 SF
      355 Witt St, Winston Salem, NC 27103-1953
      View Details
    • Value Estimation
      $1,145,000
      6,400 SF

      672 Stratford Rd

      MINI-WAREHOUSE, STORAGE • 6,400 SF
      672 Stratford Rd, Winston Salem, NC 27103-1726
      View Details
    • Value Estimation
      $340,000
      5,000 SF

      2490 Armstrong Dr

      MINI-WAREHOUSE, STORAGE • 5,000 SF
      2490 Armstrong Dr, Winston Salem, NC 27103-6821
      View Details

    Similar Nearby for Sale

    • $9,500,000
      300,000 SF

      Winston-Salem Industrial Property

      300,000 SF Warehouse, 10 Acres
      3811 Kimwell Dr, Winston-Salem, NC 27103
      View Details
    • $525,000
      2.00 Acres

      Clemmons Commercial Land - 2 Acres

      Prime 2-acre commercial/industrial lot in Clemmons, NC.
      4320 Kinnamon Vlg, Winston-Salem, NC 27103
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    • $749,000
      5.49 Acres

      Winston-Salem Industrial Land For Sale

      5.49-acre industrial lot, prime location.
      6010 Gun Clb Rd, Winston-Salem, NC 27103
      View Details
    • $300,000
      1.12 Acres

      Westgate Center Drive Commercial Land

      1.12-Acre Commercial Lot, Winston-Salem
      0 Westgate Ctr Dr, Winston-Salem, NC 27103
      View Details
    • $37,500
      28,750 SF

      3255 Stratford Rd

      Land • 28,750 SF
      3255 Stratford Rd, Winston-Salem, NC 27103
      View Details
    • Contact for pricing
      13.50 Acres

      Winston-Salem Development Land

      13.5 Acres, Mixed-Use Potential
      2552 Stratford Rd, Winston-Salem, NC 27103
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      57,600 SF

      Winston Salem Warehouse and Office

      57,600 SF warehouse with office space for lease.
      199 Budd Blvd, Winston Salem, NC 27103
      View Details
    • $12 SF/Yr
      3,750 SF

      Blue Rock Flex Space Available

      3,750 SF Flex Warehouse For Lease
      695 Blue Rock Ct, Winston-Salem, NC 27103
      View Details
    • $7 SF/Yr
      52,790 SF

      Winston Salem Warehouse For Rent

      52,790 SF warehouse with convenient highway access.
      191 Budd Blvd, Winston Salem, NC 27103
      View Details
    • $12 SF/Yr
      17,600 SF

      Westpoint Flex Space - New Construction

      Modern Flex Space, Ready for Occupancy
      3947 Pt Blvd, Winston-Salem, NC 27103
      View Details
    • $20 SF/Yr
      19,968 SF

      Winston-Salem Office Building for Lease

      Prime Medical/Office Space Available in Winston-Salem
      285 Stratford Rd, Winston-Salem, NC 27103
      View Details
    • $13 SF/Yr
      25,216 SF

      3410 Healy Dr

      Office space • 25,216 SF
      3410 Healy Dr, Winston-Salem, NC 27103
      View Details
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    Winston Salem, NC 27103-6827
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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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