Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1215 Creekshire Way Winston Salem, NC 27103-3057

    • Office Properties & Spaces
    • 58,298 SF
    • 5.03 lot acres
    OFF-MARKET
    Value Estimations
    $9,230,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1036740
    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

    • Firebirds Wood Fired Grill / Restaurant

    Property Details for 1215 Creekshire Way

    Year built
    2006
    Construction
    STEEL FRAME
    Lot size
    5.03 lot acres
    Property size
    58,298 SF
    Zone code
    GB-S
    Property type
    Office Properties & Spaces
    APN
    6804-85-4661.00
    APU
    680485466100

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,840,000
      6.5%
      $9,080,000
      7%
      $8,430,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $8,811,000
      Market price range: $2.28M - $8.81M
      AI Estimate
      $9,799,000
      Market price range: $1.96M - $9.80M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $5,770,000
      Current use
      MEDICAL BUILDING
      $9,155,000
      Change: +59% Conversion: Easy
      RETAIL STORES
      $8,050,000
      Change: +39% Conversion: Easy
      AUTO REPAIR, GARAGE
      $7,540,000
      Change: +31% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.3247
    Latitude
    36.0662
    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
    $134,874
    $1,954,200
    $7,660,400
    $9,614,600
    -
    $1,954,200
    $7,660,400
    $9,614,600

    Comparable in this City

    • Value Estimation by Request
      19,968 SF

      285 Stratford Rd

      Coworking space • 19,968 SF
      285 Stratford Rd, Winston-Salem, NC 27103
      View Details
    • Value Estimation
      $6,530,000
      43,630 SF

      1605 Westbrook Plz Dr

      OFFICE (GENERAL) • 43,630 SF
      1605 Westbrook Plz Dr, Winston Salem, NC 27103-2900
      View Details
    • Value Estimation
      $1,825,000
      11,518 SF

      1430 Westbrook Plz Dr

      OFFICE (GENERAL) • 11,518 SF
      1430 Westbrook Plz Dr, Winston Salem, NC 27103-1346
      View Details
    • Value Estimation
      $760,000
      4,800 SF

      1389 Westgate Ctr Dr

      OFFICE (GENERAL) • 4,800 SF
      1389 Westgate Ctr Dr, Winston Salem, NC 27103-2934
      View Details
    • Value Estimation by Request
      1,000 SF

      1365 Westgate Ctr Dr Ste O1

      OFFICE (GENERAL) • 1,000 SF
      1365 Westgate Ctr Dr Ste O1, Winston Salem, NC 27103-3110
      View Details
    • Value Estimation by Request
      1,500 SF

      1365 Westgate Ctr Dr Ste A2

      OFFICE (GENERAL) • 1,500 SF
      1365 Westgate Ctr Dr Ste A2, Winston Salem, NC 27103-2980
      View Details

    Similar Nearby for Sale

    • $37,500
      28,750 SF

      3255 Stratford Rd

      Land • 28,750 SF
      3255 Stratford Rd, Winston-Salem, NC 27103
      View Details
    • $11,995,000
      25,000 SF

      Golding Center: Prime Office Space

      Winston-Salem, NC Office Building - Investment Opportunity
      6010 Golding Ctr Dr, 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
    • 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
    • $300,000
      1.12 Acres

      Westgate Center Circle Land

      1.12 Acres, General Office Zoning, Prime Location
      3660 Westgate Ctr Cir, Winston-Salem, NC 27103
      View Details
    • New
      $300,000
      1.11 Acres

      Winston-Salem Land Parcel For Sale

      Two combined lots near I-40, zoned GO.
      3660/3670 Westgate Center Cir, Winston-Salem, NC 27103
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      132,190 SF

      Cloverdale Plaza Retail Space

      Winston-Salem retail center, high traffic.
      0 Cloverdale Ave & Miller St, Winston-Salem, NC 27103
      View Details
    • $204 SF/Yr
      1,660 SF

      Winston-Salem Executive Office Suites

      Prime Winston-Salem office space available.
      1321 Westbrook Plz Dr, 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
    • $20 SF/Yr
      6,217 SF

      Stratford Oaks Office Suites

      Winston-Salem Office Space, Flexible Sizes
      514 Stratford Rd, Winston-Salem, NC 27103
      View Details
    • $15 SF/Yr
      1,000 SF

      Ashley Square Office Condo

      1,000 sq ft Office Suite in Winston-Salem
      1302 Ashley Sq, Winston-Salem, NC 27103
      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.
    1215 Creekshire Way
    Winston Salem, NC 27103-3057
    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

    Google sign-in failed. Please try again or use another login method.