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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1585 Prospect St High Point, NC 27260-8457

    • Warehouses
    • 15,360 SF
    • 1.23 lot acres
    OFF-MARKET
    Value Estimations
    $360,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1275846
    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

    • Warehouses

    Property Details for 1585 Prospect St

    Year built
    1962
    Construction
    WOOD FRAME
    Lot size
    1.23 lot acres
    Property size
    15,360 SF
    Zone code
    HI
    Property type
    Warehouses
    APN
    6799611015
    APU
    6799611015

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $377,000
      Market price range: $378k - $987k
      AI Estimate
      $266,000
      Market price range: $266k - $991k

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

    Location Insight

    • Map
    • Local Demand
    City
    High Point
    County
    Randolph
    State
    North Carolina
    Longitude
    -80.0262
    Latitude
    35.9194
    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
    2024
    $2,960
    $47,580
    $195,520
    $243,100
    -
    $47,580
    $195,520
    $243,100

    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
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    • Value Estimation by Request
      5,655 SF

      143 Greensboro Rd

      Individual retail properties • 5,655 SF
      143 Greensboro Rd, High Point, NC 27260
      View Details
    • Value Estimation
      $310,000
      2,044 SF

      1427 Old Thomasville Rd

      WAREHOUSE, STORAGE • 2,044 SF
      1427 Old Thomasville Rd, High Point, NC 27260-8477
      View Details
    • Value Estimation
      $615,000
      60,610 SF

      1604 Prospect St

      WAREHOUSE, STORAGE • 60,610 SF
      1604 Prospect St, High Point, NC 27260-8460
      View Details
    • Value Estimation
      $235,000
      4,320 SF

      1721 Tower Ave

      WAREHOUSE, STORAGE • 4,320 SF
      1721 Tower Ave, High Point, NC 27260-8446
      View Details
    • Value Estimation
      $1,240,000
      44,432 SF

      697 Swsw St

      WAREHOUSE, STORAGE • 44,432 SF
      697 Swsw St, High Point, NC 27260-8108
      View Details

    Similar Nearby for Sale

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    • $2,990,000
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      High Point Warehouse and Distribution

      Well-maintained warehouse with dock doors and high ceilings.
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      Office and Warehouse Space Available

      12,044 SF office and warehouse space for sale.
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    • $6,250,000
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      High Point Industrial Property For Sale

      175,000+/- SQ FT industrial property on 10.48 acres.
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    • $3,499,000
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      Hi-Tech Manufacturing and Distribution Property

      Hi-tech property suitable for engineering, R&D, manufacturing, and distribution.
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    • $8,000,000
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    Similar Nearby for Lease

    • $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
    • $4 SF/Yr
      28,659 SF

      Industrial Facility with Expansion Potential

      Versatile industrial space with heavy power, dock doors, and expansion.
      1410-1412 Trinity Ave, High Point, NC 27260
      View Details
    • $5 SF/Yr
      56,000 SF

      High Point Warehouse with Office

      56,000 SF warehouse with office space for lease.
      1220 W Market Center Dr, High Point, NC 27260
      View Details
    • $6 SF/Yr
      10,000 SF

      Clean Warehouse Space for Sublease

      10,000 SF exceptionally clean warehouse space available for sublease.
      648 Southwest St, High Point, NC 27260
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    • $4 SF/Yr
      21,345 SF

      High Point Industrial Facility For Rent

      21,345 sq ft industrial facility with fenced parking.
      1218 W Ward Ave, High Point, NC 27260
      View Details
    • Contact for pricing
      20,000 SF

      Industrial Space in Enterprise Park

      Warehouse and distribution space available in High Point, North Carolina.
      329 Habersham Rd, High Point, NC 27260
      View Details
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    1585 Prospect St
    High Point, NC 27260-8457
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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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