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227 S Scales St Reidsville, NC 27320

Retail space Google Maps
13,524 SF 0.24 ac lot Built 1920
Entity Owned 5-yr Hold Free & Clear
Estimated value (blended)
$260k
Range $234k – $286k (±10%)
Property ID US53-5271963

Property summary

AI-generated overview

This exceptional downtown Reidsville retail property at 227 Scales Street presents a unique investment opportunity. The building offers approximately 18,000 square feet of adaptable space, less than a block from the Farmers Market, providing excellent visibility and foot traffic. The main area comprises a substantial 6,000-square-foot open space with impressive two-story ceilings, perfect for a variety of retail concepts. A hidden grand staircase leads to a mezzanine level and a large lower area, accessible via a separate rear entrance. This dual-access feature allows for potential expansion or the operation of two distinct businesses. The lower level offers significant additional commercial space. Adding to the property's appeal is a separate, finished 1,700-square-foot apartment currently under lease, generating additional income. The property's versatility makes it suitable for a wide range of uses, including warehouse space, a consignment or vendor store, a furniture showroom, or other retail ventures. The asking price is $374,900, with the seller open to leasing the property for $2,900 per month. This is a rare chance to acquire a substantial and well-located commercial property in a thriving downtown area.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1920
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 13,524 SF
Lot 0.24 ac (10,310 SF)
Zoning code CENTRAL BUSINESS REIDS
APN 8905-18-40-5326-00
UPID US53-5271963

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$275k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$260k

Owner & transaction history

since 2020
Last sale
$235,000
3 recorded transactions
2020
$235,000
2020
Price N/A
2015
Price N/A

Zoning & alternative use

CENTRAL BUSINESS REIDS · Reidsville, NC

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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More about this property
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