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Property profile & analytics
OFF-MARKET
Estimated value
$8,500,000
Super regional malls
1537 Fwy Dr Reidsville, NC 27320-7157
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-1713310
Property summary
AI-generated overview
This 1.19-acre commercial land parcel, located at 1537 Freeway Drive in Reidsville, North Carolina (APN 169601), presents a prime opportunity for development. Zoned for Highway Business use, this pad-ready site is ideally situated adjacent to the Freeway Crossing shopping center, ensuring high visibility and accessibility. The property benefits from its location in a bustling retail area with excellent signage opportunities, attracting significant foot and vehicle traffic. Its proximity to the established Woodland Park residential neighborhood provides a strong customer base. Furthermore, its less-than-three-mile distance from downtown Reidsville offers additional convenience and market reach. The asking price for this exceptional commercial land is $799,000. This property is ready for immediate development, making it an attractive investment for businesses seeking a strategic location in a thriving community. The property's size and zoning make it suitable for a variety of commercial uses. Serious inquiries are encouraged.
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1996
Total area
78,762 SF
Lot
11.5 ac (500,940 SF)
Zoning code
HWY BUS REIDSVILLE
APN
7994-15-53-3043-00
UPID
US53-1713310
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
-
Western Union Bank Credit Union
-
Papa John's Pizza Restaurant
-
Complete Cleaners (Bike/Boat/Book/etc) Store
-
Jackson Hewitt Tax Service Accounting Firm Tax Preparation
-
Coinstar Kiosk | Bitcoin ATM Kiosk Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$8.50M
Owner & transaction history
Freeway Crossing LLC · 1 yrs held
Freeway Crossing LLC
since 2024
Last sale
$8.5M
1 recorded transaction
Zoning & alternative use
HWY BUS REIDSVILLE · Reidsville, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$12.2M
+629.4%
Office building
$9.7M
+480.1%
Medical building
$8.6M
+413.9%
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 Reidsville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reidsville 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
$8,500,000
ML approach
$8,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$12,215,000
Change: +629% · Conversion: Easy
OFFICE BUILDING
$9,715,000
Change: +480% · Conversion: Moderate
MEDICAL BUILDING
$8,605,000
Change: +414% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,305,000
Change: +336% · Conversion: Difficult
RESTAURANT
$7,280,000
Change: +335% · Conversion: Difficult
RETAIL STORES
$5,885,000
Change: +252% · Conversion: Easy
Blend value · Realmo final
$8.50M
Range $7.65M – $9.35M · ±10% · vs last sale $8.50M (Dec 18 2024)
Last sale anchor
$8.50M
Dec 18 2024
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
$108 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$94,633
Tax year 2023
Assessed value
$6,599,219
Assessed 2023
Previous assessed
$6,599,219
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$1,162,500
Assessed improvement
$5,436,719
Land market value
$1,162,500
Improvement market value
$5,436,719
Total market value
$6,599,219
Applied tax rate
101.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1996
Heating
FORCED AIR
Cooling
YES
Buildings
2
Stories
1
Total area
78,762 SF
Lot
11.5 ac (500,940 SF)
Zoning code
HWY BUS REIDSVILLE
APN
7994-15-53-3043-00
UPID
US53-1713310
Jurisdiction
ROCKINGHAM
Zoning & alternative use
HWY BUS REIDSVILLE · Reidsville, NC
Zoning HWY BUS REIDSVILLE · permitted uses
HWY BUS REIDSVILLE · Reidsville, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Reidsville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$12.2M
OFFICE BUILDING
Est. value
$9.7M
MEDICAL BUILDING
Est. value
$8.6M
AUTO REPAIR, GARAGE
Est. value
$7.3M
RESTAURANT
Est. value
$7.3M
RETAIL STORES
Est. value
$5.9M
COMMERCIAL (GENERAL)
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RESTAURANT
RETAIL STORES
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
1996
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
2
Lot
11.5 ac
Current owner
From public records · entity-resolved
Freeway Crossing LLC
Entity
Mailing address
PO BOX 9537, GREENSBORO, NC 27429-0537
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 18, 2024
$8,500,000
Freeway Crossing LLC
Aci Freeway Crossing LLC
Warranty Deed
$5,400,000 · Key Bank NA
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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