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Property profile & analytics
FOR LEASE
Warehouses
191 Budd Blvd, Winston Salem, NC 27103
Entity Owned
Free & Clear
Property ID
US53-0846873
For Lease
1 / 2
$7 SF/Yr
191 Budd Blvd, Winston Salem, NC 27103
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Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1988
Construction
STEEL FRAME
Total area
57,420 SF
Lot
15.48 ac (674,309 SF)
Zoning code
GI,RS9
APN
6814-11-5521.00
UPID
US53-0846873
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
-
Green Resource of Winston Salem Specialty Food Shop Farmer's Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.54M
Comparable Approach
Comparable
$6.15M
Blend (final)
Blend
$6.17M
Owner & transaction history
Nsip LLC
Nsip LLC
since 2026
6 recorded transactions
Zoning & alternative use
GI,RS9 · Winston Salem, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$9.0M
+100.7%
Retail stores
$7.9M
+76.5%
Auto repair, garage
$7.4M
+65.3%
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 Winston Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Winston Salem 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$9,245,000
6.5%
$8,535,000
7%
$7,925,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,490,000
Current use
MEDICAL BUILDING
$9,015,000
Change: +101% · Conversion: Difficult
RETAIL STORES
$7,925,000
Change: +76% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,425,000
Change: +65% · Conversion: Easy
COMMERCIAL (GENERAL)
$5,685,000
Change: +27% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$4,975,000
Change: +11% · Conversion: Easy
Blend value · Realmo final
$6.17M
Range $5.55M – $6.79M · ±10%
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
$107 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$98,129
Tax year 2024
Assessed value
$7,880,500
Assessed 2024
Previous assessed
$7,880,500
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$1,798,500
Assessed improvement
$6,082,000
Land market value
$1,798,500
Improvement market value
$6,082,000
Total market value
$7,880,500
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
For Lease
Year built
1988
Construction
STEEL FRAME
Heating
NONE
Buildings
8
Stories
1
Total area
57,420 SF
Lot
15.48 ac (674,309 SF)
Zoning code
GI,RS9
APN
6814-11-5521.00
UPID
US53-0846873
Jurisdiction
FORSYTH
Zoning & alternative use
GI,RS9 · Winston Salem, NC
Zoning GI,RS9 · permitted uses
GI,RS9 · Winston Salem, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Winston Salem. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$4.5M
MEDICAL BUILDING
Est. value
$9.0M
RETAIL STORES
Est. value
$7.9M
AUTO REPAIR, GARAGE
Est. value
$7.4M
COMMERCIAL (GENERAL)
Est. value
$5.7M
INDUSTRIAL (GENERAL)
Est. value
$5.0M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
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
1988
Construction
STEEL FRAME
Heating
NONE
Stories
1
Buildings
8
Lot
15.48 ac
Current owner
From public records · entity-resolved
Nsip LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 25124, WINSTON SALEM, NC 27114-5124
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2026
—
Nsip LLC
Budd Office LLC
Quitclaim Deed
—
Jan 2, 2025
—
Budd Office LLC
Nsip LLC
Deed
related
—
Aug 16, 2021
—
High Point Healthcare Properties In
Pruitt Properties INC
Warranty Deed
—
Jan 14, 2021
—
Nsip LLC
Richard P Budd
Warranty Deed
—
Jul 1, 2004
$4,860,000
Richard P Budd
North State Industrial Pk LLC
Grant Deed
—
Aug 1, 2002
$4,800,000
North State Industrial Park
Budd,richard P & Sylvia S
Grant Deed
$1,800,000 · Richard P & Sylvia S Budd
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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