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    2411 Penny Rd Ste, Unit 101 High Point, NC 27265-8124
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    Property profile & analytics

    2411 Penny Rd Ste, Unit 101, High Point, NC 27265-8124

    View on Map
    • Office Spaces
    • 1,344 SF
    • 0.02 lot acres
    Off-Market
    Last Sale Jun 10, 2024
    $109,000
    Property ID
    US53-2449570
    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

    • Office Spaces

    Property Details for 2411 Penny Rd Ste

    Year built
    1990
    Construction
    FRAME
    Lot size
    0.02 lot acres
    Zone code
    CU-GO-H
    Property type
    Office Spaces
    APN
    208155
    APU
    208155

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 10, 2024 $192,500 Ihan Investments LLC Tay Marie Photography LLC Warranty Deed —
    Dec 1, 2016 — Sales Consultants Of High Point I — Deed · related $75k · Branch Bk&tr
    — — Sales Consultants Of High Point I — Deed Of Trust · related $75k · Branch Bk&tr

    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
    High Point
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.9659
    Latitude
    36.0345
    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
    $1,492
    $30,000
    $80,700
    $110,700
    -
    $30,000
    $80,700
    $110,700

    Comparable in this City

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      32,578 SF

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    • Value Estimation
      $7,875,000
      67,460 SF

      4000 Piedmont Pkwy

      OFFICE (GENERAL)
      4000 Piedmont Pkwy, High Point, NC 27265-9414
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    • Value Estimation by Request
      9.34 Acres

      4550 Premier Dr

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      3,203 SF

      2206 Eastchester Dr

      OFFICE (GENERAL)
      2206 Eastchester Dr, High Point, NC 27265-1454
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    • Value Estimation by Request
      4,900 SF

      1125 Eastchester Dr

      OFFICE (GENERAL)
      1125 Eastchester Dr, High Point, NC 27265-3161
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    • Value Estimation
      $640,000
      4,312 SF

      1300 Eastchester Dr

      OFFICE (GENERAL)
      1300 Eastchester Dr, High Point, NC 27265-2349
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    Similar Nearby for Sale

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      High Point Investment Opportunity

      Two parcels with existing lease and development potential.
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      Class A Office Spaces Available

      Subdividable Class A office spaces for lease in High Point.
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      20,385 SF

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      Fully leased, furnished office building with high traffic location.
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    • $450,000

      High-Visibility Commercial Lot For Sale

      Premium commercial site with flexible zoning in a growing area.
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      Commercial Site in Growing Area

      1.75 acre corner lot near major highways.
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      High Point Office Space Available

      Office space available for lease in High Point, North Carolina.
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      Office Space on Highway 68

      Office space available on Highway 68 with abundant parking.
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      Furnished Office Space Near Airport

      Furnished office space with flexible configurations, close to PTI Airport.
      1400 Eastchester Dr, High Point, NC 27265
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      Class A Office Space Available

      Modern office spaces for lease in a centrally located building.
      2485 Penny Rd, High Point, NC 27265
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      1,453 SF

      Professional Office Space Available

      Third-floor office space with ample parking and full-service lease.
      1912 Eastchester Dr, High Point, NC 27265
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      1,150 SF

      Office Suites Available For Rent

      Two office suites available with private offices and kitchenettes.
      2310 N Centennial St, High Point, NC 27265
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    High Point, NC 27265-8124
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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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