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    Property profile & analytics

    115 College St Thomasville, NC 27360-4162

    • Apartment buildings
    • 17,462 SF
    • 0.96 lot acres
    OFF-MARKET
    Last Sale
    Nov 23, 2022
    $1,200,000
    Value Estimations
    $1,160,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1934034
    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

    • Summit Apartments / Apartment Building

    Property Details for 115 College St

    Year built
    1980
    Construction
    FRAME
    Lot size
    0.96 lot acres
    Property size
    17,462 SF
    Zone code
    R6
    Property type
    Apartment buildings
    APN
    16-071-0-00F-0001-B
    APU
    16071000F0001B

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,220,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,110,000
      Market price range: $893k - $1.45M
      AI Estimate
      $1,078,000
      Market price range: $764k - $1.34M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,110,000
      Current use
      COMMERCIAL (GENERAL)
      $1,350,000
      Change: +22% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $1,170,000
      Change: +5% Conversion: Difficult
      OFFICE BUILDING
      $1,085,000
      Change: -2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Thomasville
    County
    Davidson
    State
    North Carolina
    Longitude
    -80.0772
    Latitude
    35.8878
    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
    2023
    $11,811
    $0.00
    $0.00
    $871,670
    -
    $48,000
    $823,670
    $871,670

    Comparable in this City

    • Value Estimation by Request
      7,952 SF

      303 Ingram St, Unit A-G

      APARTMENT HOUSE (5+ UNITS) • 7,952 SF
      303 Ingram St, Thomasville, NC 27360-4171
      View Details
    • Value Estimation by Request
      5,952 SF

      2019 Ball Park Rd, Unit A

      APARTMENT HOUSE (5+ UNITS) • 5,952 SF
      2019 Ball Park Rd, Thomasville, NC 27360-9211
      View Details
    • Value Estimation by Request
      5,890 SF

      105 Sherman St, Unit A

      APARTMENT HOUSE (5+ UNITS) • 5,890 SF
      105 Sherman St, Thomasville, NC 27360-4860
      View Details
    • Value Estimation
      $585,000
      12,344 SF

      408 Memorial Park Dr, Unit A

      APARTMENT HOUSE (5+ UNITS) • 12,344 SF
      408 Memorial Park Dr, Thomasville, NC 27360-4064
      View Details
    • Value Estimation
      $625,000
      7,824 SF

      722 Salem St, Unit 4-A-H

      APARTMENT HOUSE (5+ UNITS) • 7,824 SF
      722 Salem St, Thomasville, NC 27360-2855
      View Details
    • Value Estimation by Request
      6,454 SF

      200 Carolina Ave, Unit A

      APARTMENT HOUSE (5+ UNITS) • 6,454 SF
      200 Carolina Ave, Thomasville, NC 27360-4765
      View Details

    Similar Nearby for Sale

    • $299,900
      0.17 Acres

      Thomasville Multifamily Investment Opportunity

      Four one-bedroom units near the Triad with ample parking.
      106 College St, Thomasville, NC 27360
      View Details
    • $199,000
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      Thomasville Duplex: Investor Opportunity

      Charming, updated duplex in Thomasville, NC, ideal for investors.
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    • $125,000
      2.29 Acres

      Land in Thomasville, NC

      2.29+/- acre lot, ideal for building a home.
      255 Bowers Rd, Thomasville, NC 27360
      View Details
    • Contact for pricing

      Land Parcel in Good Location

      5 +/- acre land parcel with HC & RA3 zoning.
      253 N Urban St, Thomasville, NC 27360
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    • $949,000
      30,524 SF

      Thomasville Industrial Facility For Sale

      30,524 SF industrial building with warehouse and manufacturing space.
      119 Washboard Rd, Thomasville, NC 27360
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    • Contact for pricing

      Wooded Land Near Community College

      Approximately 1-acre wooded land tract with road frontage.
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    Similar Nearby for Lease

    • Contact for pricing
      8,801 SF

      Thomasville Warehouse with Office Space

      Warehouse for lease with office space and convenient highway access.
      105 Todd Ct, Thomasville, NC 27360
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    • $14 SF/Yr
      2,500 SF

      Medical Office Space Available

      Well-maintained medical office space in high-traffic location.
      1630 Liberty Dr, Thomasville, NC 27360
      View Details
    • $8 SF/Yr
      1,806 SF

      Former IGA Space Available

      Former IGA in shopping center with ample parking.
      1404 National Hwy, Thomasville, NC 27360
      View Details
    • $3,500 /Mo
      3,396 SF

      Retail Space with Secure Fencing

      Fenced retail space near Bus 85 with high visibility.
      1530 National Hwy, Thomasville, NC 27360
      View Details
    • Contact for pricing
      80,000 SF

      Thomasville Warehouse Space for Lease

      Warehouse, manufacturing, and office space available for lease.
      110 W Guilford St, Thomasville, NC 27360
      View Details
    • $1,000 /Mo

      Corner Lot for Rent

      Corner lot with high traffic and utilities available for rent.
      7402 Old Greensboro Rd, Thomasville, NC 27360
      View Details
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    115 College St
    Thomasville, NC 27360-4162
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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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