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    Property profile & analytics

    189 Hickory Tree Rd Winston-Salem, NC 27101

    • Super regional malls
    • 79,586 SF
    • 8.99 lot acres
    For Lease
    View listing
    Last Sale
    Dec 30, 2020
    $3,700,000
    Value Estimations
    $3,355,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0757534
    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

    • CVS Photo / Passport Photo Processor / Digital Printer
    • Midway Tobacco&Vape / Cigar Shop
    • UPS Access Point location / Mailing Service / Shipping Service
    • Tammy Gabard / Pharmacy
    • Kinsey Richardson / Pharmacy

    Property Details for 189 Hickory Tree Rd

    Year built
    1997
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    8.99 lot acres
    Property size
    79,586 SF
    Zone code
    CS
    Property type
    Super regional malls
    APN
    13-014-0-000-0008
    APU
    1301400000008

    Description

    Midway Commons, located at 189 Hickory Tree Rd, Winston-Salem, NC 27107, offers exceptional retail space totaling 17,595 contiguous square feet, with a minimum divisible space of 1,000 square feet. Currently, 6,164 square feet are vacant, divided into three available suites. Two suites (112 & 104) are priced at $12.00 per square foot. Pricing for suite 108 is available upon request. This single-building property benefits from a strong location at the Hwy 52/I-285 interchange, providing excellent visibility and accessibility. The surrounding area boasts robust demographics, with populations within 3, 5, and 7 miles totaling 14,291, 46,056, and 92,694 respectively. Household incomes within these radii are $85,015, $89,334, and $79,754, indicating a high purchasing power. The property enjoys a diverse mix of co-tenants, including established businesses such as Dollar Tree, CVS, Sakura Japanese, To The Moon & Back, Pronto Pizza, Pizza Hut, and Thomasville Pediatrics, creating a vibrant and attractive retail environment. This prime retail location presents a unique opportunity for businesses seeking high visibility and access to a substantial consumer base. Contact us today to learn more about this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,680,000
      Market price range: $369k - $3.41M

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

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Davidson
    State
    North Carolina
    Longitude
    -80.2233
    Latitude
    35.9662
    CBSA code
    49180
    CBSA name
    WINSTON-SALEM, 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
    $30,227
    $0.00
    $0.00
    $4,262,160
    -
    $1,174,810
    $3,087,350
    $4,262,160

    Comparable in this City

    • Value Estimation by Request
      12,977 SF

      11212 Old Us Hwy 52

      REGIONAL SHOPPING CENTER, MALL • 12,977 SF
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      View Details
    • Value Estimation
      $670,000
      16,508 SF

      13086 Old Us Hwy 52

      REGIONAL SHOPPING CENTER, MALL • 16,508 SF
      13086 Old Us Hwy 52, Winston Salem, NC 27107-9848
      View Details
    • Value Estimation by Request
      5,597 SF

      10277 Nc Hwy 109

      REGIONAL SHOPPING CENTER, MALL • 5,597 SF
      10277 Nc Hwy 109, Winston Salem, NC 27107-9029
      View Details
    • Value Estimation by Request
      54,684 SF

      11141 Old Us Hwy 52nd Ste, Unit 1

      REGIONAL SHOPPING CENTER, MALL • 54,684 SF
      11141 Old Us Hwy 52nd Ste, Winston Salem, NC 27107-9484
      View Details
    • Value Estimation
      $270,000
      0.13 Acres

      3200 Ridgewood Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 0.13 Acres
      3200 Ridgewood Rd, Winston Salem, NC 27107-4540
      View Details
    • Value Estimation
      $430,000
      1.27 Acres

      3051 Kernersville Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 1.27 Acres
      3051 Kernersville Rd, Winston Salem, NC 27107-1735
      View Details

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    Similar Nearby for Lease

    • $7 SF/Yr
      17,595 SF

      Retail Space with Loading Dock

      17,595 SF retail space available with loading dock.
      189 Hickory Tree Rd, Winston Salem, NC 27107
      View Details
    • $144 SF/Yr
      23,759 SF

      Midway Commons Retail Space

      Winston-Salem Retail Opportunity: 1,000-17,595 SF
      189 Hickory Tree Rd, Winston-Salem, NC 27107
      View Details
    • $4 SF/Yr
      96,248 SF

      Waughtown Street Flex Space Available

      Forsyth County industrial flex space, 25,207-96,248 SF
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    • Contact for pricing

      Winston-Salem Industrial Facility For Rent

      Versatile industrial facility suitable for manufacturing, distribution, or warehousing.
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      Winston-Salem Industrial Facility For Rent

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    Winston-Salem, NC 27101
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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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