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

    2870 Ridgewood Park Dr Winston Salem, NC 27107-4581

    • Office Properties & Spaces
    • 3,600 SF
    • 4.00 lot acres
    OFF-MARKET
    Value Estimations
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0306818
    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

    • Long Foundation Drilling Co / Construction Company / General Contractor

    Property Details for 2870 Ridgewood Park Dr

    Year built
    1999
    Construction
    STEEL FRAME
    Lot size
    4.00 lot acres
    Property size
    3,600 SF
    Zone code
    LI
    Property type
    Office Properties & Spaces
    APN
    6854-62-6610.00
    APU
    685462661000

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $610,000
      6.5%
      $560,000
      7%
      $520,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $569,000
      Market price range: $185k - $570k
      AI Estimate
      $592,000
      Market price range: $116k - $593k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $355,000
      Current use
      MEDICAL BUILDING
      $595,000
      Change: +69% Conversion: Easy
      RETAIL STORES
      $475,000
      Change: +34% Conversion: Easy
      AUTO REPAIR, GARAGE
      $465,000
      Change: +32% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.1616
    Latitude
    36.0597
    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
    $6,142
    $207,700
    $251,100
    $458,800
    -
    $207,700
    $251,100
    $458,800

    Comparable in this City

    • Value Estimation
      $740,000
      14,200 SF

      1720 Vargrave St

      OFFICE (GENERAL) • 14,200 SF
      1720 Vargrave St, Winston Salem, NC 27107-2206
      View Details
    • Value Estimation
      $1,590,000
      10,080 SF

      1525 Waughtown St

      OFFICE (GENERAL) • 10,080 SF
      1525 Waughtown St, Winston Salem, NC 27107
      View Details
    • Value Estimation
      $1,200,000
      9,279 SF

      800 Robie St

      OFFICE (GENERAL) • 9,279 SF
      800 Robie St, Winston Salem, NC 27107-4155
      View Details
    • Value Estimation
      $1,230,000
      36,336 SF

      2500 Old Lexington Rd

      OFFICE (GENERAL) • 36,336 SF
      2500 Old Lexington Rd, Winston Salem, NC 27107-3247
      View Details
    • Value Estimation
      $18,235,000
      220,079 SF

      3180 Ctr Park Blvd

      OFFICE (GENERAL) • 220,079 SF
      3180 Ctr Park Blvd, Winston Salem, NC 27107-4574
      View Details
    • Value Estimation
      $705,000
      15,240 SF

      3146 Starlight Dr

      OFFICE (GENERAL) • 15,240 SF
      3146 Starlight Dr, Winston Salem, NC 27107-4121
      View Details

    Similar Nearby for Sale

    • $1,600,000
      22,100 SF

      Winston-Salem Flex Space Investment

      22,100 SF Flex Space, 9 Docks, Great Location
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    • Contact for pricing
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    • $55,000

      Wooded Lot in Winston-Salem

      1.45 acre wooded lot suitable for a 3-bedroom septic.
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    • New
      Contact for pricing
      Pending

      Forsyth County Land Auction Opportunity

      Land in Forsyth County offered via online auction.
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    • $40,000
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      Winston-Salem Builder-Ready Land Opportunity

      Four adjoining lots for sale, ideal for new construction.
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    Similar Nearby for Lease

    • $144 SF/Yr
      23,759 SF

      Midway Commons Retail Space

      Winston-Salem Retail Opportunity: 1,000-17,595 SF
      189 Hickory Tree Rd, Winston-Salem, NC 27107
      View Details
    • Contact for pricing
      17,595 SF

      Retail Space with Loading Dock

      17,595 SF retail space available with loading dock.
      189 Hickory Tree Rd, Winston Salem, NC 27107
      View Details
    • $4 SF/Yr
      96,248 SF

      Waughtown Street Flex Space Available

      Forsyth County industrial flex space, 25,207-96,248 SF
      1539 Waughtown St, Winston-Salem, NC 27107
      View Details
    • Contact for pricing

      Winston-Salem Industrial Facility For Rent

      Versatile industrial facility suitable for manufacturing, distribution, or warehousing.
      1624 Union Cross Rd, Winston Salem, NC 27107
      View Details
    • Contact for pricing

      Winston-Salem Industrial Facility For Rent

      Versatile industrial facility suitable for manufacturing, distribution, or warehousing.
      1624 Union Cross Rd, Winston Salem, NC 27107
      View Details
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    Winston Salem, NC 27107-4581
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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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