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

    1703 Fwy Dr Reidsville, NC 27320-7121

    • Drug stores
    • 14,732 SF
    • 2.00 lot acres
    OFF-MARKET
    Last Sale
    Jan 30, 2024
    Value Estimations
    $1,970,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5620440
    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

    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • Walgreens Pharmacy / Pharmacy
    • Amanda S. Rebb, PharmD / Pharmacy
    • Walgreens / Cosmetic Store
    • COVID-19 Drive-Thru Testing at Walgreens / Medical Laboratory

    Property Details for 1703 Fwy Dr

    Year built
    2004
    Lot size
    2.00 lot acres
    Property size
    14,732 SF
    Zone code
    HWY BUS REIDSVILLE
    Property type
    Drug stores
    APN
    7994-07-57-7938-00
    APU
    79940757793800

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,415,000
      6.5%
      $2,230,000
      7%
      $2,070,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,899,000
      Market price range: $462k - $1.90M
      AI Estimate
      $1,777,000
      Market price range: $570k - $1.78M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,270,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Reidsville
    County
    Rockingham
    State
    North Carolina
    Longitude
    -79.6936
    Latitude
    36.3526
    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
    $46,101
    $814,230
    $2,400,639
    $3,214,869
    -
    $814,230
    $2,400,639
    $3,214,869

    Comparable in this City

    • Value Estimation
      $5,835,000
      14,472 SF

      603 Scales St

      DRUG STORE, PHARMACY • 14,472 SF
      603 Scales St, Reidsville, NC 27320-5023
      View Details
    • Value Estimation
      $1,205,000
      9,012 SF

      726 Scales St

      DRUG STORE, PHARMACY • 9,012 SF
      726 Scales St, Reidsville, NC 27320-5330
      View Details
    • Value Estimation by Request
      3,000 SF

      924 Scales St

      DRUG STORE, PHARMACY • 3,000 SF
      924 Scales St, Reidsville, NC 27320-5318
      View Details
    • Value Estimation
      $1,550,000
      11,585 SF

      533 Scales St

      DRUG STORE, PHARMACY • 11,585 SF
      533 Scales St, Reidsville, NC 27320-5021
      View Details
    • Value Estimation by Request
      7.11 Acres

      1541 Us 29th Business

      RETAIL STORES (PERSONAL SERVICES) • 7.11 Acres
      1541 Us 29th Business, Reidsville, NC 27320-8229
      View Details
    • Value Estimation by Request
      1,260 SF

      1330 Wolf Is Rd

      CONVENIENCE STORE • 1,260 SF
      1330 Wolf Is Rd, Reidsville, NC 27320-8337
      View Details

    Similar Nearby for Sale

    • $250,000
      17,300 SF

      Reidsville Retail/Office Space Available

      17,300 SF retail/office space in downtown Reidsville, NC.
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    • $199,900

      Downtown Reidsville Retail Space

      Prime location, versatile space, great potential.
      231 Scales St, Reidsville, NC 27320
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    • $695,000
      6,600 SF

      Reidsville Auto Shop - $695k

      Vacant 6,600 SF Auto Shop, NC
      2517 Us Highway 158, Reidsville, NC 27320
      View Details
    • $1,500,000
      37.00 Acres

      Adams Rd, Reidsville, NC 27320

      Retail properties • 37.00 Acres
      Adams Rd, Reidsville, NC 27320
      View Details
    • $500,000
      11.91 Acres

      Reidsville Retail Development Land

      11.91 Acres, High-Growth Potential
      Freeway Dr, Reidsville, NC 27320
      View Details
    • $500,000
      11.91 Acres

      Reidsville, NC Commercial Land

      11.91 Acres, Ready to Develop, Prime Location
      0 Freeway Dr, Reidsville, NC 27320
      View Details

    Similar Nearby for Lease

    • $1,350 /Mo
      2,700 SF

      Reidsville Retail/Warehouse Space Available

      2,700 SF retail/warehouse space for lease in Reidsville, NC.
      1641 Freeway Dr, Reidsville, NC 27320
      View Details
    • $614,650

      Prime Commercial Land for Lease

      1.25 acre parcel with high visibility and access.
      1920 Vance St, Reidsville, NC 27320
      View Details
    • $7 SF/Yr
      7,800 SF

      Reidsville Flex Building For Rent

      7,800 SF flex building with warehouse and office space.
      638 Tamco Rd, Reidsville, NC 27320
      View Details
    • Contact for pricing
      32,390 SF

      Prime Reidsville Executive Office Space

      Class A Office Suites, 1,028-2,100 SF
      1417 Freeway Dr, Reidsville, NC 27320
      View Details
    • $600 /Mo

      Reidsville Apartment for Rent

      One-bedroom, one-bath apartment available for rent in Reidsville.
      119 Franklin St, Reidsville, NC 27320
      View Details
    • Contact for pricing

      Recently Renovated Reidsville Office Space

      Recently renovated office space with multiple offices and conference room.
      1311 Freeway Dr, Reidsville, NC 27320
      View Details
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    Reidsville, NC 27320-7121
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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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