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    2400 Penny Rd High Point, NC 27265-8120
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    2400 Penny Rd High Point, NC 27265-8120

    View on Map
    • Commercial real estate
    • 4,789 SF
    • 0.88 lot acres
    Off-Market
    Property ID
    US53-5695596
    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
    $855,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Panera Bread / Bakery / Specialty Food Shop

    Property Details for 2400 Penny Rd

    Year built
    1999
    Construction
    FRAME
    Lot size
    0.88 lot acres
    Property size
    4,789 SF
    Zone code
    CU-HB
    Property type
    Commercial real estate
    APN
    207389
    APU
    207389

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $810,000
      6.5%
      $745,000
      7%
      $695,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $990,000
      Market price range: $414k - $990k
      AI Estimate
      $833,000
      Market price range: $234k - $833k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $675,000
      Current use
      RETAIL STORES
      $700,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    High Point
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.9648
    Latitude
    36.0353
    CBSA code
    24660
    CBSA name
    GREENSBORO-HIGH POINT, 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
    $27,670
    $751,600
    $1,301,100
    $2,052,700
    -
    $751,600
    $1,301,100
    $2,052,700

    Comparable in this City

    • Value Estimation by Request

      3510 Main St

      Land
      3510 Main St, High Point, NC 27265
      View Details
    • Value Estimation by Request
      0.07 Acres

      2214 Centennial St

      COMMERCIAL (GENERAL) • 0.07 Acres
      2214 Centennial St, High Point, NC 27265-3134
      View Details
    • Value Estimation by Request
      1.03 Acres

      3916 Sedgebrook St

      COMMERCIAL (GENERAL) • 1.03 Acres
      3916 Sedgebrook St, High Point, NC 27265
      View Details
    • Value Estimation
      $1,635,000
      9,139 SF

      2754 Nc Hwy 68th S

      COMMERCIAL (GENERAL) • 9,139 SF
      2754 Nc Hwy 68th S, High Point, NC 27265-8381
      View Details
    • Value Estimation
      $6,340,000
      47,422 SF

      2485 Penny Rd

      COMMERCIAL (GENERAL) • 47,422 SF
      2485 Penny Rd, High Point, NC 27265-8375
      View Details
    • Value Estimation
      $1,140,000
      8,042 SF

      3202 Main St

      COMMERCIAL (GENERAL) • 8,042 SF
      3202 Main St, High Point, NC 27265-1917
      View Details

    Similar Nearby for Sale

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      Acreage with Pond in Convenient Location

      Acreage with road frontage and pond, zoned agriculture.
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      Residential Lot Near High Point

      Residential lot with public utilities near High Point University.
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      Class A Office Spaces Available

      Subdividable Class A office spaces for lease in High Point.
      1823 Eastchester Dr, High Point, NC 27265
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      Pad-Ready Site in Eastchester Park

      0.64 acre pad-ready site for custom office space.
      1308 Eastchester Dr, High Point, NC 27265
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    • $82,500

      Vacant Lot Near Golf Course

      Secluded half-acre vacant lot near Jamestown Park Golf Course.
      7220 East Fork Rd, High Point, NC 27265
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    • $500,000
      22.87 Acres

      22.87 Acres on Highway 109

      Land with road frontage, timbering potential in High Point.
      N Nc Highway 109, High Point, NC 27265
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    Similar Nearby for Lease

    • Contact for pricing

      Office Space in Mendenhall Oaks

      One-story office building with shared amenities and scenic views.
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      Office Space on Highway 68

      Office space available on Highway 68 with abundant parking.
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      143,000 SF

      High Point Warehouse Space Available

      143,000 SF warehouse space with multiple loading docks.
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      2,470 SF

      Industrial Space with Open Floorplan

      Industrial space for lease with open floor plan.
      4275 Regency Dr, High Point, NC 27265
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    • Contact for pricing
      1,050 SF

      Retail Space in High Point

      1,050 SF retail space in a visible location.
      2401 Penny Rd, High Point, NC 27265
      View Details
    • Contact for pricing

      Mendenhall Oaks Office Space

      Office building with shared amenities in Mendenhall Oaks Business Park.
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      View Details

    Property Visit Statistics

    • Visits by month
      22.8k
    • Visitors by month
      19.1k
    • Avg Time on site
      78 min
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    2400 Penny Rd
    High Point, NC 27265-8120
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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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