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    406 E 4Th St Winston-Salem, NC 27101
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    406 E 4Th St Winston-Salem, NC 27101

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    • Office properties & Spaces
    • 25,494 SF
    • 0.74 lot acres
    For Sale
    $3,450,000
    View Listing →
    Downtown Winston-Salem Office Space For Sale
    $3,450,000

    Downtown Winston-Salem Office Space

    Office space in downtown Winston-Salem suitable for small businesses.

    406 E 4th Street, Winston-salem, NC 27101
    View Listing
    Property ID
    US53-0870959
    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

    • Landmark Property Management / Property Management Company
    • Piedmont Leaf Lofts / Apartment Building
    • Fitch Irick Landmark LLC / Property Management Company

    Property Details for 406 E 4Th St

    Year built
    1890
    Construction
    BRICK
    Lot size
    0.74 lot acres
    Property size
    25,494 SF
    Zone code
    CI
    Property type
    Office properties & Spaces
    APN
    6835-37-7008.00
    APU
    683537700800

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,300,000
      6.5%
      $3,970,000
      7%
      $3,690,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,720,000
      Market price range: $1.47M - $4.49M
      AI Estimate
      $2,656,000
      Market price range: $739k - $3.33M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,770,000
      Current use
      MEDICAL BUILDING
      $4,230,000
      Change: +53% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,295,000
      Change: +19% Conversion: Difficult
      RETAIL STORES
      $2,885,000
      Change: +4% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.2399
    Latitude
    36.0986
    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
    $14,976
    $375,500
    $2,334,100
    $2,709,600
    -
    $375,500
    $2,334,100
    $2,709,600

    Comparable in this City

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      7,976 SF

      426 Old Salem Rd

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      4,110 SF

      712 Brookstown Ave

      Restaurants • 4,110 SF
      712 Brookstown Ave, Winston-Salem, NC 27101
      View Details
    • Value Estimation
      $44,220,000
      536,110 SF

      401 Main St

      OFFICE (GENERAL) • 536,110 SF
      401 Main St, Winston Salem, NC 27101-3804
      View Details
    • Value Estimation
      $3,385,000
      106,787 SF

      115 Main St

      OFFICE (GENERAL) • 106,787 SF
      115 Main St, Winston Salem, NC 27101
      View Details
    • Value Estimation by Request
      1,448 SF

      545 Trade St, Unit 301

      OFFICE (GENERAL) • 1,448 SF
      545 Trade St, Winston Salem, NC 27101-2981
      View Details
    • Value Estimation by Request
      3,200 SF

      710 Trade St

      OFFICE (GENERAL) • 3,200 SF
      710 Trade St, Winston Salem, NC 27101-1431
      View Details

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      Downtown Winston-Salem Office Space

      Office space in downtown Winston-Salem suitable for small businesses.
      406 E 4Th St, Winston-Salem, NC 27101
      View Details
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      7,040 SF

      Downtown Winston-Salem Retail/Office Building

      Two-story, 7,040 SF building in downtown Winston-Salem.
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      57,190 SF

      850 Chatham Rd, Winston-Salem, NC 27101

      Mixed-use properties • 57,190 SF
      850 Chatham Rd, Winston-Salem, NC 27101
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    • $450,000
      1,752 SF

      361 W End Blvd

      361 W End Blvd
      361 W End Blvd, Winston Salem, NC 27101
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      East Winston Fully Occupied Multifamily

      Fully occupied 10-unit multifamily property in East Winston.
      1401 E 5Th St, Winston Salem, NC 27101
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    Similar Nearby for Lease

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      1,474 SF

      Renovated Office Building For Rent

      Completely renovated two-story office building in Winston Salem CBD.
      601 West 4Th St, Winston-Salem, NC 27101
      View Details
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      4,000 SF

      Downtown Winston-Salem Office Space

      Prime office space in Winston-Salem's Central Business District.
      500 West 5Th St, Winston-Salem, NC 27101
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      218,488 SF

      Class A Office Space Available

      Class A office tower with unparalleled amenities in Winston-Salem.
      100 North Main St, Winston-Salem, NC 27101
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      Renovated Office Space Available

      Office space in renovated building with downtown access and parking.
      119 Brookstown Ave, Winston-Salem, NC 27101
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      180 SF

      Keyman Office Space For Rent

      First floor office space with shared amenities and utilities included.
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    • Contact for pricing

      Industry Hill Flex Space

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      View Details
    View Listing
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    406 E 4Th St
    Winston-Salem, NC 27101
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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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