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Property profile & analytics
OFF-MARKET
Estimated value
$32,630,000
Outlet malls
3475 Pkwy Vlg Cir Winston Salem, NC 27127-6857
Individually Owned
19-yr Hold
Free & Clear
Property ID
US53-1176842
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
2006
Construction
STEEL FRAME
Total area
211,658 SF
Lot
27.33 ac (1,190,495 SF)
Zoning code
MRB-S
APN
6823-61-6351.00
UPID
US53-1176842
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Minute Key Locksmith (Bike/Boat/Book/etc) Store
-
Quick-Tag (Bike/Boat/Book/etc) Store Pet Store & Service
-
Woodforest National Bank ATM Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$35.67M
Comparable Approach
Comparable
$39.15M
Blend (final)
Blend
$32.63M
Owner & transaction history
Wal-mart Real Estate Busn · 19 yrs held
Wal-mart Real Estate Busn
since 2007
1 recorded transaction
Zoning & alternative use
MRB-S · Winston Salem, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The purpose of the MRB-S District Section is to ensure that major retail projects are adequately analyzed through site plan review and supplemental criteria in order to determine their compatibility with the surrounding community
Zone name
Major Retail And Business Special Use
General category
COMMERCIAL
Zone area
75.38 ac
Source
Realmo
Top alternative use upside
Medical building
$35.1M
+26.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Winston Salem submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Winston Salem submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$38,635,000
6.5%
$35,665,000
7%
$33,115,000
Alternative Use
Use
Estimation
RETAIL STORES
$27,860,000
Current use
MEDICAL BUILDING
$35,125,000
Change: +26% · Conversion: Difficult
AUTO REPAIR, GARAGE
$27,370,000
Change: -2% · Conversion: Difficult
Blend value · Realmo final
$32.63M
Range $29.37M – $35.89M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$154 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$301,619
Tax year 2024
Assessed value
$24,985,300
Assessed 2024
Previous assessed
$24,985,300
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$6,964,600
Assessed improvement
$18,020,700
Land market value
$6,964,600
Improvement market value
$18,020,700
Total market value
$24,985,300
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
2006
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Stories
1
Total area
211,658 SF
Lot
27.33 ac (1,190,495 SF)
Zoning code
MRB-S
APN
6823-61-6351.00
UPID
US53-1176842
Jurisdiction
FORSYTH
Zoning & alternative use
MRB-S · Winston Salem, NCZoning MRB-S · permitted uses
MRB-S · Winston Salem, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The purpose of the MRB-S District Section is to ensure that major retail projects are adequately analyzed through site plan review and supplemental criteria in order to determine their compatibility with the surrounding community
Zone name
Major Retail And Business Special Use
General category
COMMERCIAL
Zone area
75.38 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$27.9M
MEDICAL BUILDING
Est. value
$35.1M
AUTO REPAIR, GARAGE
Est. value
$27.4M
RETAIL STORES Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2006
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
27.33 ac
Current owner
From public records · entity-resolved
Wal-mart Real Estate Busn
Individual
Free & Clear · 19 yrs held
Mailing address
PO BOX 8050, BENTONVILLE, AR 72712-8055
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2007
$24,500,000
Wal-mart Real Estate Busn
Wal-mart Stores East
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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