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Property profile & analytics
OFF-MARKET
Estimated value
$6,510,000
Office Spaces
411 4th St Winston Salem, NC 27101-2857
Entity Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-4883603
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1932
Total area
51,062 SF
Lot
0.46 ac (20,038 SF)
Zoning code
CB WO
APN
6835-17-1023.00
UPID
US53-4883603
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
-
The Underground Theatre Theater & Performing Art Venue Music Venue
-
Canteen Still Life Hotel & Motel Resort
-
Coldwell Banker Advantage: Winston-Salem Real Estate Agency
-
John McPherson REALTOR® Real Estate Agency
-
Project Space 411 Community Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.96M
Comparable Approach
Comparable
$6.75M
Blend (final)
Blend
$6.51M
Owner & transaction history
Ltp Holdings II LLC · 9 yrs held
Ltp Holdings II LLC
since 2016
2 recorded transactions
Zoning & alternative use
CB WO · Winston Salem, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.5M
+52.6%
Auto repair, garage
$6.6M
+18.9%
Retail stores
$5.8M
+4.1%
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%
$8,615,000
6.5%
$7,955,000
7%
$7,385,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,550,000
Current use
MEDICAL BUILDING
$8,475,000
Change: +53% · Conversion: Easy
AUTO REPAIR, GARAGE
$6,605,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$5,780,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$6.51M
Range $5.86M – $7.16M · ±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
$127 / 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
$73,397
Tax year 2024
Assessed value
$4,916,700
Assessed 2024
Previous assessed
$4,401,100
+11.7% YoY
Effective rate
1.49%
On assessed value
Assessed land
$455,400
Assessed improvement
$4,461,300
Land market value
$455,400
Improvement market value
$4,461,300
Total market value
$4,916,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1932
Heating
NONE
Stories
2
Total area
51,062 SF
Lot
0.46 ac (20,038 SF)
Zoning code
CB WO
APN
6835-17-1023.00
UPID
US53-4883603
Jurisdiction
FORSYTH
Zoning & alternative use
CB WO · Winston Salem, NCZoning CB WO · permitted uses
CB WO · Winston Salem, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$5.6M
MEDICAL BUILDING
Est. value
$8.5M
AUTO REPAIR, GARAGE
Est. value
$6.6M
RETAIL STORES
Est. value
$5.8M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1932
Heating
NONE
Stories
2
Lot
0.46 ac
Current owner
From public records · entity-resolved
Ltp Holdings II LLC
Entity
Free & Clear · 9 yrs held
Mailing address
206 W 4TH ST, WINSTON SALEM, NC 27101-2824
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 2, 2016
—
Ltp Holdings II LLC
Mercantile Plaza LLC
Grant Deed
—
Nov 2, 2016
$2,700,500
Ltp Holdings II LLC
Mercantile Plaza LLC
Trustees Deed
related
$3,935,760 · First Bk
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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