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Property profile & analytics
OFF-MARKET
Estimated value
$10,650,000
Grocery and convenience stores
2209 Cloverdale Ave Winston Salem, NC 27103-2301
Individually Owned
17-yr Hold
Absentee Owner
Property ID
US53-4771126
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1968
Total area
91,816 SF
Lot
12.08 ac (526,205 SF)
Zoning code
HB
APN
6825-34-1319.00
UPID
US53-4771126
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
-
Panera Bread Bakery Specialty Food Shop
-
Winston Office Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$8.33M
Blend (final)
Blend
$10.65M
Owner & transaction history
Kimco W-s · 17 yrs held
Kimco W-s
since 2009
2 recorded transactions
Zoning & alternative use
HB · Winston Salem, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The HB District is primarily intended to accommodate retail service, distributive uses, and high-density residential
Zone name
Highway Business
General category
COMMERCIAL
Zone area
2,323.66 ac
Source
Realmo
Top alternative use upside
Medical building
$14.4M
+13.7%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$12,675,000
Current use
MEDICAL BUILDING
$14,415,000
Change: +14% · Conversion: Difficult
AUTO REPAIR, GARAGE
$11,875,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$10.65M
Range $9.59M – $11.72M · ±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
$116 / 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
$194,041
Tax year 2024
Assessed value
$15,069,200
Assessed 2024
Previous assessed
$15,069,200
+0.0% YoY
Effective rate
1.29%
On assessed value
Assessed land
$7,335,400
Assessed improvement
$7,733,800
Land market value
$7,335,400
Improvement market value
$7,733,800
Total market value
$15,069,200
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1968
Heating
NONE
Buildings
5
Stories
1
Total area
91,816 SF
Lot
12.08 ac (526,205 SF)
Zoning code
HB
APN
6825-34-1319.00
UPID
US53-4771126
Jurisdiction
FORSYTH
Zoning & alternative use
HB · Winston Salem, NCZoning HB · permitted uses
HB · Winston Salem, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The HB District is primarily intended to accommodate retail service, distributive uses, and high-density residential
Zone name
Highway Business
General category
COMMERCIAL
Zone area
2,323.66 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$12.7M
MEDICAL BUILDING
Est. value
$14.4M
AUTO REPAIR, GARAGE
Est. value
$11.9M
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
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
1968
Heating
NONE
Stories
1
Buildings
5
Lot
12.08 ac
Current owner
From public records · entity-resolved
Kimco W-s
Individual
Mailing address
3333 NEW HYDE PARK RD STE #100, NEW HYDE PARK, NY 11042-1205
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 1, 2009
—
Kimco W-s
—
Grant Deed
related
$103,300,000 · Miscellaneous Ins Co
—
—
Kimco W-s
—
Deed Of Trust
related
$5,050,000 · Miscellaneous Ins Co
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.
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