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    308 Broad Ave High Point, NC 27262-4922
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    Property profile & analytics

    308 Broad Ave, High Point, NC 27262-4922

    View on Map
    • Retail space
    • 24,160 SF
    • 0.40 lot acres
    Off-Market
    Last Sale May 31, 2022
    $3,500,000
    Property ID
    US53-5490469
    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
    $3,375,000
    Show details
    Cap Rate Potential
    9.1%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 308 Broad Ave

    Year built
    1925
    Construction
    FRAME
    Lot size
    0.40 lot acres
    Zone code
    MX-D
    Property type
    Retail space
    APN
    186887
    APU
    186887

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 31, 2022 $3,500,000 308highbroad LLC 308 West Broad LLC Warranty Deed $500k · Plainscapital Bank
    May 31, 2022 — 808 High Broad LLC 308 West Broad LLC Warranty Deed —
    Nov 3, 2016 — 308 West Broad LLC — Deed · related $2.1M · Fidelity Bk
    Jan 17, 2008 $1,500,000 308 West Broad LLC Pinedo,francisco Grant Deed —
    — — 308 West Broad LLC — Deed Of Trust · related $100k · Suntrust Bank NA
    — — 308 West Broad LLC — Deed Of Trust · related $2.1M · Fidelity Bk
    — — Pinedo Family Trust — Deed Of Trust · related $700k · High Point Bk&tr

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,255,000
      ML approach
      $3,240,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,920,000
      6.5%
      $4,545,000
      7%
      $4,220,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,540,000
      Current use
      COMMERCIAL (GENERAL)
      $3,815,000
      Change: +8% 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
    -80.0085
    Latitude
    35.9573
    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
    $10,642
    $313,600
    $388,700
    $702,300
    -
    $313,600
    $388,700
    $702,300

    Comparable in this City

    • Value Estimation
      $1,650,000
      11,050 SF

      1677 Westchester Dr

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $850,000
      10,664 SF

      518 Hamilton St

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation by Request
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      900 Mall Loop Rd

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    • Value Estimation by Request
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      1040 Lexington Ave

      RETAIL STORES (PERSONAL SERVICES)
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    • Value Estimation
      $1,120,000
      7,640 SF

      312 Broad Ave

      RETAIL STORES (PERSONAL SERVICES)
      312 Broad Ave, High Point, NC 27262-4922
      View Details
    • Value Estimation
      $4,420,000
      0.15 Acres

      1701 Westchester Dr, Unit R1

      RETAIL STORES (PERSONAL SERVICES)
      1701 Westchester Dr, High Point, NC 27262-7008
      View Details

    Similar Nearby for Sale

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      8,000 SF

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      8,000 SF retail space available for lease.
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      13,150 SF

      High Point Retail Investment Opportunity

      Fully leased retail property with high traffic exposure on Main.
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    • $495,000

      High Point Commercial Property For Sale

      Commercial property in High Point with excellent visibility and access.
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    Similar Nearby for Lease

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      3,000 SF

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      Retail space with two drive-in doors in High Point.
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      1,144 SF

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      Retail space suitable for training or counseling businesses.
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      1,363 SF

      Retail Space in High Point

      Retail leasing opportunities in downtown High Point, North Carolina.
      121 Virginia Pl, High Point, NC 27262
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 5,500 square feet.
      3002 W English Rd, High Point, NC 27262
      View Details
    • Contact for pricing

      Renovated Shop and Showroom Space

      Recently renovated shop and showroom in a high-visibility automotive corridor.
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    • Contact for pricing

      Uptown District Retail/Office/Restaurant Space

      40,712 SF campus in High Point's Uptown District.
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      View Details
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    High Point, NC 27262-4922
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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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