Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    207 3rd St Winston Salem, NC 27101-3907
    Back to Search
    Property profile & analytics

    207 3rd St Winston Salem, NC 27101-3907

    View on Map
    • Turn key restaurants
    • 4,370 SF
    • 0.05 lot acres
    Off-Market
    Last Sale Apr 24, 2025
    $549,000
    Property ID
    US53-1782136
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Camel City Church / Church
    • Murphy's 2010 / Restaurant

    Property Details for 207 3rd St

    Year built
    1920
    Construction
    STEEL FRAME
    Lot size
    0.05 lot acres
    Property size
    4,370 SF
    Zone code
    CB WO
    Property type
    Turn key restaurants
    APN
    6835-16-7746.00
    APU
    683516774600

    Description

    This exceptional retail storefront, located at 207 W 3rd St in Winston-Salem, NC, presents a unique owner/user opportunity. The property, built in 1920, is a two-story building offering a total of 4,200-4,400 square feet, with 2,185 square feet of net rentable space. Ideally situated in the heart of downtown Winston-Salem, this storefront enjoys a high-traffic location adjacent to the Hampton Inn Hotel and the Kaleideum Children's Museum, ensuring significant foot traffic and visibility. While street parking is limited, two convenient parking lots are within a two-minute walk. All assets, including kitchen equipment, are included in the sale price of $625,000. This property offers a rare blend of historical charm and modern convenience, making it an excellent investment for a discerning buyer seeking a thriving retail location in a vibrant downtown setting. The property consists of one building and is zoned for retail use. The Forsyth County location and 27101 zip code provide easy access to major transportation routes and amenities. This is a turnkey operation ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.2465
    Latitude
    36.0977
    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
    $2,618
    $59,600
    $115,800
    $175,400
    -
    $59,600
    $115,800
    $175,400

    Comparable in this City

    • Value Estimation
      $1,535,000
      52,523 SF

      200 Brookstown Ave

      RESTAURANT • 52,523 SF
      200 Brookstown Ave, Winston Salem, NC 27101-5209
      View Details
    • Value Estimation by Request
      6,367 SF

      314 4th St

      RESTAURANT • 6,367 SF
      314 4th St, Winston Salem, NC 27101-2840
      View Details
    • Value Estimation
      $910,000
      1,426 SF

      1007 Brookstown Ave

      RESTAURANT • 1,426 SF
      1007 Brookstown Ave, Winston Salem, NC 27101-2573
      View Details
    • Value Estimation
      $600,000
      11,000 SF

      231 4th St

      RESTAURANT • 11,000 SF
      231 4th St, Winston Salem, NC 27101-2823
      View Details
    • Value Estimation by Request
      2,160 SF

      1008 Poplar St

      RESTAURANT • 2,160 SF
      1008 Poplar St, Winston Salem, NC 27101-5819
      View Details
    • Value Estimation
      $795,000
      20,640 SF

      418 4th St

      RESTAURANT • 20,640 SF
      418 4th St, Winston Salem, NC 27101-2805
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      13,493 SF

      Retail Property in West End

      Retail property in Winston-Salem's West End District for sale.
      212 N Broad St, Winston Salem, NC 27101
      View Details
    • Contact for pricing
      7,040 SF

      Downtown Winston-Salem Retail/Office Building

      Two-story, 7,040 SF building in downtown Winston-Salem.
      215 N Broad St, Winston-Salem, NC 27101
      View Details
    • Contact for pricing
      18,000 SF

      Historic Retail Building For Sale

      Two-story, 18,000 SF retail building in downtown Winston-Salem.
      408 N Liberty St, Winston-Salem, NC 27101
      View Details
    • New
      $11,000,000
      42,234 SF

      Downtown Winston-Salem Retail Investment Opportunity

      Prime downtown location with flexible deal structure and income potential.
      633 N Liberty St, Winston Salem, NC 27101
      View Details
    • $285,000
      Pending

      Charming Duplex in West End

      Income-generating duplex with historic charm in desirable West End.
      166 Piedmont Ave, Winston-Salem, NC 27101
      View Details
    • Contact for pricing

      Prime Development Opportunity in Winston-Salem

      Development site near downtown Winston-Salem with high visibility.
      W 7Th St, Winston-Salem, NC 27101
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      425,741 SF

      Truliant Tower: Prime Winston-Salem Office

      28-story iconic office building, diverse spaces available.
      301 Main St, Winston-Salem, NC 27101
      View Details
    • $18 SF/Yr
      9,253 SF

      Retail/Office Space Available For Lease

      9294 SF retail or office space available October 1, 2025.
      545 Power Plant Cir, Winston-Salem, NC 27101
      View Details
    • $18 SF/Yr
      2,542 SF

      Downtown Winston-Salem Retail/Office Space

      Historic retail and office spaces in downtown Winston-Salem.
      840-848 W 4Th St, Winston-Salem, NC 27101
      View Details
    • $19 SF/Yr
      10,700 SF

      Historic Building Retail/Office Space

      Redeveloped historic building offering retail and office space for lease.
      500 W 4Th St, Winston-Salem, NC 27101
      View Details
    • $15 SF/Yr
      1,116 SF

      Commercial Office Duplex For Lease

      Commercial office duplex with leasing options available in Winston Salem.
      205-207 N Poplar St, Winston Salem, NC 27101
      View Details
    • Contact for pricing
      180 SF

      Keyman Office Space For Rent

      First floor office space with shared amenities and utilities included.
      632 Holly Ave, Winston Salem, NC 27101
      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.
    207 3rd St
    Winston Salem, NC 27101-3907
    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

    Thank You for Inquiry
    207 3rd St, Winston Salem, NC, 27101
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!