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    2808 Reynolda Rd Winston Salem, NC 27106-3102
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    Property profile & analytics

    2808 Reynolda Rd, Winston Salem, NC 27106-3102

    View on Map
    • Strip malls
    • 84,582 SF
    • 11.49 lot acres
    Off-Market
    Last Sale Aug 17, 2021
    Property ID
    US53-1029264
    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
    $1,945,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Camel City Cleaners / (Bike/Boat/Book/etc) Store

    Property Details for 2808 Reynolda Rd

    Year built
    1962
    Construction
    BRICK
    Lot size
    11.49 lot acres
    Zone code
    HB
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    6817-63-0479.00
    APU
    681763047900

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 8, 2021 — Reynolda Manor LLC — Deed · related $2.5M · Pinnacle Bank
    Aug 17, 2021 — Bethabara Properties LLC Covington Wilson Incorporated Special Warranty Deed —

    Description

    Reynolda Manor Shopping Center, located at 2808 Reynolda Rd in Winston-Salem, NC 27106, presents a prime retail investment opportunity. This single-story, 153,343 square foot shopping center boasts 30 suites and is situated on a heavily trafficked retail corridor, offering excellent visibility and ample parking. Its strategic location at a signalized intersection provides multiple points of ingress and egress, ensuring easy accessibility for shoppers. Currently, 13,168 square feet of space is available, with individual suites ranging from 960 to 4,252 square feet, presenting opportunities for various retail businesses. The center benefits from its proximity to Wake Forest University, a significant draw with its nearly 9,000 students and over 6,500 faculty and staff. The Forsyth County location, zoned HB, further enhances its appeal. Adjacent vacancies offer a unique opportunity for restaurant development, capitalizing on the high foot traffic and proximity to the university. This well-established retail hub provides a strong foundation for future growth and profitability. The property consists of one building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,711,000
      Market price range: $392k - $3.62M

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

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.3002
    Latitude
    36.1428
    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
    2024
    $126,014
    $2,756,800
    $7,199,100
    $9,955,900
    -
    $2,756,800
    $7,199,100
    $9,955,900

    Comparable in this City

    • Value Estimation
      $1,635,000
      50,456 SF

      5363 Shattalon Dr

      SHOPPING CENTER, STRIP CENTER
      5363 Shattalon Dr, Winston Salem, NC 27106-1936
      View Details
    • Value Estimation
      $1,030,000
      53,200 SF

      Winston Salem, NC 27106

      SHOPPING CENTER, STRIP CENTER
      Winston Salem, NC 27106
      View Details
    • Value Estimation
      $5,415,000
      104,748 SF

      3802 Reynolda Rd

      SHOPPING CENTER, STRIP CENTER
      3802 Reynolda Rd, Winston Salem, NC 27106-1710
      View Details
    • Value Estimation
      $885,000
      35,698 SF

      5041 University Pkwy

      SHOPPING CENTER, STRIP CENTER
      5041 University Pkwy, Winston Salem, NC 27106-6083
      View Details
    • Value Estimation by Request
      7,240 SF

      4908 Reynolda Rd

      Neighborhood centers
      4908 Reynolda Rd, Winston-Salem, NC 27106
      View Details
    • Value Estimation by Request
      24,341 SF

      3800 Reynolda Rd

      Lifestyle centers
      3800 Reynolda Rd, Winston-Salem, NC 27106
      View Details

    Similar Nearby for Sale

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      High-traffic corner lot suitable for various business ventures.
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      Commercial Property on Robinhood Road

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      Retail Space and Outparcels Available

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      Historic Bethania Mill Mixed-Use Property

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      Retail Property on Reynolda Road

      Retail property available for sale on Reynolda Road.
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      Robinhood Road Commercial Property Available

      Commercial property with high traffic, ample parking, and dual access.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Wake Forest

      Retail space in Winston-Salem, near Wake Forest University.
      2835 Reynolda Rd, Winston-Salem, NC 27106
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      Retail Space on Reynolda Road

      Retail space available for lease in Winston-Salem, North Carolina.
      4908 Reynolda Rd, Winston-Salem, NC 27106
      View Details
    • Contact for pricing
      3,245 SF

      Retail Space on Coliseum Drive

      Retail space for lease in high-traffic location.
      710-720 Coliseum Dr, Winston-Salem, NC 27106
      View Details
    • Contact for pricing

      Mixed-Use Development Retail Space

      Retail spaces available within a mixed-use development.
      2004 Robinhood Village Dr, Winston-Salem, NC 27106
      View Details
    • $6 SF/Yr
      44,625 SF

      Winston-Salem Warehouse/Manufacturing Space Available

      Functional warehouse/manufacturing space in a desirable Winston-Salem location.
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    • Contact for pricing
      110 SF

      Office Suites in Piedmont Triad

      Office suites available in the Piedmont Triad area.
      8025 North Point Blvd, Winston-Salem, NC 27106
      View Details
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    Winston Salem, NC 27106-3102
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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.

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