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

    1581 Prospect St High Point, NC 27260

    • Industrial properties
    • 32,000 SF
    • 1.31 lot acres
    For Lease
    View listing
    $5 SF/Yr
    Last Sale
    Nov 16, 2021
    $535,000
    Value Estimations
    $770,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2142809
    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

    • NC Commercial Paving of High Point / Asphalt Mixing Plant / Asphalt Contractor

    Property Details for 1581 Prospect St

    Year built
    1968
    Construction
    FRAME
    Lot size
    1.31 lot acres
    Property size
    32,000 SF
    Zone code
    HI
    Property type
    Industrial properties
    APN
    178485
    APU
    178485

    Description

    This exceptional 42,000 square foot industrial building, situated on a 2.01-acre lot in Guilford County, presents a unique opportunity. Currently configured with two suites, one is available for immediate occupancy, offering 20,000 contiguous square feet of highly desirable manufacturing space. Built in 1968 and extensively renovated in 2021, the property boasts a 16-foot ceiling height, three dock-high doors, and ample power, making it ideal for various light assembly or distribution operations. The existing tenant occupies the other half of the building, utilizing the space for light manufacturing and distribution. The available space features exceptionally clean conditions and includes a small office area. The property is zoned HI and benefits from an excellent location near Bus 85 in South High Point, ensuring convenient access to major transportation routes. The minimum divisible space is 20,000 square feet, with a maximum contiguous space also at 20,000 square feet. This is a single-story building with a total of two suites. This property offers a blend of modern upgrades and a strategic location, making it an attractive option for businesses seeking efficient and well-maintained industrial space. Inquire today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $830,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,025,000
      Market price range: $620k - $2.09M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,235,000

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

    Location Insight

    • Map
    • Local Demand
    City
    High Point
    County
    Guilford
    State
    North Carolina
    Longitude
    -80.0255
    Latitude
    35.92
    CBSA code
    24660
    CBSA name
    GREENSBORO-HIGH POINT, 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
    $9,898
    $74,200
    $660,100
    $734,300
    -
    $74,200
    $660,100
    $734,300

    Comparable in this City

    • Value Estimation by Request
      43,548 SF

      530 Pendleton St

      Distribution properties • 43,548 SF
      530 Pendleton St, High Point, NC 27260
      View Details
    • Value Estimation by Request
      3.20 Acres

      1302 Lincoln Dr, Unit 1304

      INDUSTRIAL (GENERAL) • 3.20 Acres
      1302 Lincoln Dr, High Point, NC 27260-1515
      View Details
    • Value Estimation by Request
      1.20 Acres

      1315 Courtesy Rd

      INDUSTRIAL (GENERAL) • 1.20 Acres
      1315 Courtesy Rd, High Point, NC 27260
      View Details
    • Value Estimation by Request
      800 SF

      194 Spg Gdn Cir

      INDUSTRIAL (GENERAL) • 800 SF
      194 Spg Gdn Cir, High Point, NC 27260
      View Details
    • Value Estimation by Request
      6,636 SF

      517 Hamilton St

      INDUSTRIAL (GENERAL) • 6,636 SF
      517 Hamilton St, High Point, NC 27260-7655
      View Details
    • Value Estimation
      $1,565,000
      20,100 SF

      623 Swsw St

      INDUSTRIAL (GENERAL) • 20,100 SF
      623 Swsw St, High Point, NC 27260-8108
      View Details

    Similar Nearby for Sale

    • $6,250,000
      175,000 SF

      High Point Industrial Property For Sale

      175,000+/- SQ FT industrial property on 10.48 acres.
      1801 S University Pkwy, High Point, NC 27260
      View Details
    • $8,000,000
      60,000 SF

      High Point Manufacturing/Showroom Opportunity

      60,000+/- SF building suitable for manufacturing or showroom use.
      501 S Centennial St, High Point, NC 27260
      View Details
    • $400,000
      3,600 SF

      High Point Industrial Property For Sale

      3,600 SF industrial property with expansion potential in High Point.
      412 Greer Ave, High Point, NC 27260
      View Details
    • $3,499,000
      29,282 SF

      Hi-Tech Manufacturing and Distribution Property

      Hi-tech property suitable for engineering, R&D, manufacturing, and distribution.
      1515 W Green Dr, High Point, NC 27260
      View Details
    • $2,990,000
      34,646 SF

      High Point Warehouse and Distribution

      Well-maintained warehouse with dock doors and high ceilings.
      1920 W Green Dr, High Point, NC 27260
      View Details
    • $1,980,000
      12,044 SF

      Office and Warehouse Space Available

      12,044 SF office and warehouse space for sale.
      417-423 S Wrenn St, High Point, NC 27260
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
      20,000 SF

      High Point Manufacturing/Distribution Space

      20,000 SF available for lease in High Point.
      1581 Prospect St, High Point, NC 27260
      View Details
    • $3 SF/Yr
      18,068 SF

      High Point Warehouse For Rent

      Single-tenancy metal building with 18,068 SF rentable area.
      1306 Starr Dr, High Point, NC 27260
      View Details
    • Contact for pricing
      43,548 SF

      High Point Industrial Warehouse Space

      43,548 SF Warehouse, divisible spaces available.
      530 Pendleton St, High Point, NC 27260
      View Details
    • $5 SF/Yr
      51,136 SF

      High Point Warehouse: 17K+ SF Available

      Industrial warehouse space, High Point, NC. Prime location, immediate occupancy.
      1948 Green Dr, High Point, NC 27260
      View Details
    • Contact for pricing
      33,000 SF

      High Point Manufacturing Facility

      Specialized manufacturing facility with office and warehouse space for rent.
      1826 Albertson Rd, High Point, NC 27260
      View Details
    • $3 SF/Yr
      43,200 SF

      High Point Industrial Facility

      Affordable industrial facility for storage or manufacturing with multiple docks.
      200 E Market Center Dr, High Point, NC 27260
      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.
    1581 Prospect St
    High Point, NC 27260
    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.