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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    240 Market Vw Dr Kernersville, NC 27284-4019

    • Grocery and convenience stores
    • 49,323 SF
    • 4.27 lot acres
    OFF-MARKET
    Last Sale
    Jul 31, 2024
    $6,666,667
    Value Estimations
    $6,665,000
    Show details
    Cap Rate Potential
    8.1%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US53-4076208
    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

    • Grocery and convenience stores

    Property Details for 240 Market Vw Dr

    Year built
    2016
    Construction
    BRICK
    Lot size
    4.27 lot acres
    Property size
    49,323 SF
    Zone code
    GB-S
    Property type
    Grocery and convenience stores
    APN
    6876-82-8111.00
    APU
    687682811100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $6,665,000
      ML approach
      $6,665,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,005,000
      6.5%
      $8,310,000
      7%
      $7,715,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $8,692,000
      Market price range: $2.96M - $10.2M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $7,355,000
      Current use
      MEDICAL BUILDING
      $9,210,000
      Change: +25% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $7,405,000
      Change: +1% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $6,380,000
      Change: -13% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Kernersville
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.0873
    Latitude
    36.1138
    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
    2023
    $69,119
    $1,839,500
    $4,235,800
    $6,075,300
    -
    $1,839,500
    $4,235,800
    $6,075,300

    Comparable in this City

    • Value Estimation
      $560,000
      2,814 SF

      498 Bodenhamer St

      CONVENIENCE STORE • 2,814 SF
      498 Bodenhamer St, Kernersville, NC 27284-2588
      View Details
    • Value Estimation by Request
      1,680 SF

      627 Nc Hwy 66th S

      CONVENIENCE STORE • 1,680 SF
      627 Nc Hwy 66th S, Kernersville, NC 27284-2923
      View Details
    • Value Estimation
      $620,000
      2,944 SF

      826 Main St

      CONVENIENCE STORE • 2,944 SF
      826 Main St, Kernersville, NC 27284-3344
      View Details
    • Value Estimation
      $925,000
      5,060 SF

      790 Main St

      CONVENIENCE STORE • 5,060 SF
      790 Main St, Kernersville, NC 27284-2459
      View Details
    • Value Estimation
      $1,270,000
      5,198 SF

      1030 Sedge Gdn Rd

      CONVENIENCE STORE • 5,198 SF
      1030 Sedge Gdn Rd, Kernersville, NC 27284-7513
      View Details
    • Value Estimation
      $1,575,000
      2,774 SF

      1557 Un Cross Rd

      CONVENIENCE STORE • 2,774 SF
      1557 Un Cross Rd, Kernersville, NC 27284-7137
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,600 SF

      Retail Shoppes at Main Street

      Modern retail center anchored by Lowes Foods.
      794 S Main St, Kernersville, NC 27284
      View Details
    • $950,000
      1,000 SF

      Kernersville QSR/Fast Food Opportunity

      Prime NC location, build-to-suit or sale.
      405 Main St, Kernersville, NC 27284
      View Details
    • $1,125,000
      3.22 Acres

      Kernersville Commercial Land - $1.125M

      3.22 Acres, High-Growth Area, Corner Lot
      0 Un Cross Rd At Loradale Dr, Kernersville, NC 27284
      View Details
    • $285,000

      Kernersville Retail Building - $285K

      Prime Retail Space: Country Store/Tire Shop Potential
      1717 Mountain St, Kernersville, NC 27284
      View Details
    • $6,916,000
      55.75 Acres

      Kernersville Commercial Land - 55.75 Acres

      Prime 55.75-acre development site in booming Kernersville, NC.
      1630 Pecan Ln, Kernersville, NC 27284
      View Details
    • Contact for pricing
      5.00 Acres

      Kernersville Commercial Land - 5 Acres

      Prime 5-acre commercial lot, ideal for build-to-suit or ground lease.
      0 Main St, Kernersville, NC 27284
      View Details

    Similar Nearby for Lease

    • $42 SF/Yr
      5,600 SF

      Retail Suites Available for Lease

      Retail suites available for lease with high visibility and access.
      1464 Jag Br Blvd, Kernersville, NC 27284
      View Details
    • $26 SF/Yr
      2,300 SF

      Retail Space in Kernersville Center

      Up to 2,300 SF available in retail center.
      803 Old Winston Rd, Kernersville, NC 27284
      View Details
    • Contact for pricing
      239,580 SF

      North Main Street Outparcel Opportunity

      5.5-Acre Retail Land, High Traffic
      0 Main St, Kernersville, NC 27284
      View Details
    • Contact for pricing
      72,590 SF

      Kernersville Marketplace Retail Center

      High-traffic retail space, I-40 access
      971 Main St, Kernersville, NC 27284
      View Details
    • Contact for pricing
      5,400 SF

      Kernersville Retail Endcap Opportunity

      High-traffic retail space near Lowe's.
      716 Cherry St, Kernersville, NC 27284
      View Details
    • Contact for pricing
      4,000 SF

      Kersnersville Retail Opportunity

      Build-to-Suit or NNN Lease
      405 Main St, Kernersville, NC 27284
      View Details
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    240 Market Vw Dr
    Kernersville, NC 27284-4019
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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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