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    145 Parris Ave High Point, NC 27262
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    Property profile & analytics

    145 Parris Ave High Point, NC 27262

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    • Retail space
    • 1,377 SF
    Off-Market
    Property ID
    US53-0180130
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pinnacle Anesthesia & Billing / Medical Clinic

    Property Details for 145 Parris Ave

    Year built
    2005
    Property size
    1,377 SF
    Property type
    Retail space
    Property subtype
    Storefront properties

    Description

    This exceptional 1,377 square foot commercial space, located at 145 W Parris Ave, Suite 101, High Point, NC 27262, presents a fantastic opportunity for owner-occupancy or investment. Built in 2005 and updated in 2017, this single-story storefront/traditional office space is currently vacant and ready for immediate occupancy. The property boasts an open floor plan, ideal for a variety of uses, complemented by an enclosed utility closet and a convenient kitchenette area. Durable luxury vinyl plank (LVP) flooring and fresh paint enhance the modern aesthetic. Zoned CU-GB (General Business), this unit is one of four in the building, sharing 21 parking spaces. Its prime location offers easy access to local dining and shopping options. The quarterly owner's association fee is $125. The asking price for this move-in ready property is $179,000. This is a rare opportunity to acquire a well-maintained, conveniently located commercial space in a thriving area of High Point. Don't miss out on this chance to establish your business in a desirable setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    High Point
    County
    Guilford
    State
    North Carolina
    Longitude
    -80.0260269
    Latitude
    35.9843021

    Comparable in this City

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      8,000 SF

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      603D Eastchester Dr, High Point, NC 27262
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    Similar Nearby for Sale

    • $3,200,000
      15,322 SF

      High Point Showroom For Sale

      15,322 SF showroom with dock door and high ceilings.
      525 N Wrenn St, High Point, NC 27262
      View Details
    • $995,000
      57,407 SF

      High Point Retail/Showroom Opportunity

      57,407 SF retail/showroom space near downtown High Point.
      1690 W English Rd, High Point, NC 27262
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      8,000 SF

      Retail Space in High Point

      8,000 SF retail space available for lease.
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      Commercial Property in High Point

      Prime commercial property suitable for retail, office, or medical use.
      301 Sunset Dr, High Point, NC 27262
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    • $195,000
      1,236 SF

      High Point Corner Office Space

      Office space in a great location with parking.
      1521 Johnson St, High Point, NC 27262
      View Details
    • $152,000

      Office Unit with Reception Area

      End unit featuring a reception, offices, and kitchen.
      603D Eastchester Dr, High Point, NC 27262
      View Details

    Similar Nearby for Lease

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      Retail Space with Drive-In Doors

      Retail space with two drive-in doors in High Point.
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    • $22 SF/Yr
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      Retail Space in High Point

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      Retail Space Available For Rent

      Single tenant retail space available, approximately 5,500 square feet.
      3002 W English Rd, High Point, NC 27262
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    • $17 SF/Yr
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      High Point Showroom Opportunity

      Shared showroom space available in High Point Furniture Market.
      208 W English Rd, High Point, NC 27262
      View Details
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    High Point, NC 27262
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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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