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Property profile & analytics
OFF-MARKET
Estimated value
$4,930,000
Industrial properties
115 Chestnut St Winston Salem, NC 27101-4096
Individually Owned
Free & Clear
Property ID
US53-1800685
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1959
Construction
CONCRETE
Total area
76,139 SF
Lot
1.29 ac (56,192 SF)
Zoning code
CI
APN
6835-35-3692.00
UPID
US53-1800685
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Astral Genetics Consultant
-
Kiraly Lab - Wake Forest University School of Medicine University
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.19M
Comparable Approach
Comparable
$3.20M
Blend (final)
Blend
$4.93M
Owner & transaction history
W F U HEALTH SCIENCES
W F U HEALTH SCIENCES
Zoning & alternative use
CI · Winston Salem, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CI District is intended to accommodate biomedical, technological, scientific, and other public and private research uses within Growth management area 1 and is also intended to accommodate a pedestrian oriented mixture of uses such as office, retail, residential, and light manufacturing to support the primary research function of the district
Zone name
Central Industrial
General category
INDUSTRIAL
Zone area
239.70 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Winston Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Winston Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,705,000
6.5%
$6,190,000
7%
$5,750,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$6,595,000
Current use
WAREHOUSE, STORAGE
$5,855,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$4.93M
Range $4.44M – $5.42M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$65 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Assessed value
$9,299,500
Assessed 2024
Assessed land
$846,200
Assessed improvement
$8,453,300
Land market value
$846,200
Improvement market value
$8,453,300
Total market value
$9,299,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1959
Construction
CONCRETE
Heating
NONE
Buildings
3
Stories
3
Total area
76,139 SF
Lot
1.29 ac (56,192 SF)
Zoning code
CI
APN
6835-35-3692.00
UPID
US53-1800685
Jurisdiction
FORSYTH
Zoning & alternative use
CI · Winston Salem, NCZoning CI · permitted uses
CI · Winston Salem, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The CI District is intended to accommodate biomedical, technological, scientific, and other public and private research uses within Growth management area 1 and is also intended to accommodate a pedestrian oriented mixture of uses such as office, retail, residential, and light manufacturing to support the primary research function of the district
Zone name
Central Industrial
General category
INDUSTRIAL
Zone area
239.70 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$6.6M
WAREHOUSE, STORAGE
Est. value
$5.9M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1959
Construction
CONCRETE
Heating
NONE
Stories
3
Buildings
3
Lot
1.29 ac
Current owner
From public records · entity-resolved
W F U HEALTH SCIENCES
Individual
Free & Clear · 0 yrs held
Mailing address
MEDICAL CTR BLVD, WINSTON SALEM, NC 27157-0001
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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