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    2788 Smith Lk Rd Winston-Salem, NC 27103

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    2788 Smith Lk Rd Winston-Salem, NC 27103

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    • Commercial real estate
    • 13.85 lot acres
    Off-Market
    Property ID
    US53-2197673
    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

    • Commercial real estate

    Property Details for 2788 Smith Lk Rd

    Lot size
    13.85 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 13.85-acre parcel located at 2788 Smith Lake Road in Winston-Salem, North Carolina, presents a remarkable multifamily development opportunity. Situated in Forsyth County, zip code 27103, this property boasts convenient access to essential services, shopping centers, and major transportation arteries. Its strategic location just off Stratford Road and within one mile of Hanes Mall Boulevard and Interstate 40 ensures high visibility and easy commutes for future residents. The site's zoning allows for multifamily development, making it ideal for apartments, townhouses, or other residential projects. The property is classified as both multifamily and land, offering significant potential for a high-return investment. Existing infrastructure includes readily available water and sewer connections, simplifying the development process and reducing upfront costs. This prime location in a rapidly expanding area promises strong rental demand and significant appreciation potential. The expansive lot size provides ample space for a substantial multifamily development, catering to a wide range of housing needs. This is a rare opportunity to acquire a large, well-located parcel perfectly suited for a thriving residential community. Detailed site plans and zoning information are available upon request.

    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
    Winston-Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.3185905
    Latitude
    36.0618431

    Comparable in this City

    • Contact for pricing

      Development Opportunity Near Hanes Mall

      10.8-acre site near retail corridor and medical park.
      2010 Burke Mill Rd, Winston-Salem, NC 27103
      View Details
    • New
      $499,500
      2,510 SF

      Ardmore Triplex Near Baptist Hospital

      Well-maintained triplex near Baptist Hospital with income potential.
      301 S Sunset Dr, Winston-Salem, NC 27103
      View Details
    • Contact for pricing
      28,750 SF

      Stratford Road Commercial Land Parcel

      0.66 acre commercial land parcel with development potential.
      3255 S Stratford Rd, Winston-Salem, NC 27103
      View Details
    • $300,000
      1.11 Acres

      Winston-Salem Commercial Land Available

      Two combined lots totaling 1.11 acres near I-40.
      3660/3670 Westgate Center Cir, Winston-Salem, NC 27103
      View Details
    • $225,000
      1.19 Acres

      Residential Land in Winston-Salem, NC

      Land offered for sale in Winston-Salem, North Carolina.
      599 Mission Rd, Winston-Salem, NC 27103
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Development Opportunity Near Hanes Mall

      10.8-acre site near retail corridor and medical park.
      2010 Burke Mill Rd, Winston-Salem, NC 27103
      View Details
    • New
      $499,500
      2,510 SF

      Ardmore Triplex Near Baptist Hospital

      Well-maintained triplex near Baptist Hospital with income potential.
      301 S Sunset Dr, Winston-Salem, NC 27103
      View Details
    • Contact for pricing
      28,750 SF

      Stratford Road Commercial Land Parcel

      0.66 acre commercial land parcel with development potential.
      3255 S Stratford Rd, Winston-Salem, NC 27103
      View Details
    • $300,000
      1.11 Acres

      Winston-Salem Commercial Land Available

      Two combined lots totaling 1.11 acres near I-40.
      3660/3670 Westgate Center Cir, Winston-Salem, NC 27103
      View Details
    • Contact for pricing
      Pending

      Residential Land in Ashford Subdivision

      Sloping lot ideal for custom basement home in Winston-Salem.
      2112 Hollinswood Ct, Winston-Salem, NC 27103
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land on Stratford Road

      Strategically located commercial land available for rent.
      2414 S Stratford Rd, Winston-Salem, NC 27103
      View Details
    • Contact for pricing

      Winston-Salem Class B Office Building

      Four-story office building with flexible space and ample parking.
      514 S Stratford Rd, Winston-Salem, NC 27103
      View Details
    • Contact for pricing

      Winston-Salem Suburban Office Suites

      Flexible and affordable office suites in a convenient Winston-Salem location.
      3410 Healy Dr, Winston-Salem, NC 27103
      View Details
    • Contact for pricing

      Commercial Space For Lease

      Commercial space available for lease in Winston-Salem.
      3200 Silas Creek Pkwy, Winston-Salem, NC 27103
      View Details
    • $7 SF/Yr
      57,600 SF

      Winston Salem Warehouse and Office

      57,600 SF warehouse with office space for lease.
      199 Budd Blvd, Winston Salem, NC 27103
      View Details
    • Contact for pricing

      St. George Square

      Discover many ways to work your way in St. George Square
      615 St. George Sq Ct, Winston-Salem, NC 27103
      View Details
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    Winston-Salem, NC 27103
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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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