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

    420 Jonestown Rd, Unit A Winston Salem, NC 27104-4770

    • Community centers
    • 43,520 SF
    • 4.60 lot acres
    OFF-MARKET
    Value Estimations
    $1,045,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-4848689
    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

    • Summit Insurance LLC / Insurance Agency
    • Kalamaki Authentic Greek Street Food / Restaurant
    • Cha Da Thai / Restaurant
    • Kazakos Brothers Properties / Real Estate Agency
    • AAA Blind Factory / (Bike/Boat/Book/etc) Store / Home Decor Store

    Property Details for 420 Jonestown Rd

    Year built
    1971
    Lot size
    4.60 lot acres
    Property size
    43,520 SF
    Zone code
    HB
    Property type
    Community centers
    APN
    6804-48-4539.00
    APU
    680448453900

    Description

    This exceptional Winston-Salem, NC retail opportunity presents 5,550 square feet of immediately available space within the 42,898 square foot Newtown Shopping Center. Located at 420 Jonestown Rd, 27104, this Class B property boasts a prime location, benefiting from high traffic counts on Jonestown Road (25,000 AADT) and Benton Road (6,200 AADT). Built in 1971 with renovations in 2002 and 2020, the single-story building sits on 4.64 acres and offers ample parking (220 spaces). The center features 14 suites, with minimum divisible space of 1,100 square feet and maximum contiguous space of 5,550 square feet. This highly visible location is strategically positioned near major roadways, including an interchange at Jonestown Road and US Hwy 421, and enjoys proximity to numerous established businesses such as McDonald's, Walmart, Starbucks, and Arby's, as well as Mercedes-Benz and Lexus dealerships. Its convenient location is less than six miles from downtown Winston-Salem and less than seven miles from Wake Forest University. The landlord is open to negotiating flexible lease terms, making this an ideal space for a national or regional tenant seeking high visibility and strong traffic flow. The property's recent exterior upgrades further enhance its appeal. This space is perfect for a medical office, gym, urgent care facility, or anchor store.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $820,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $799,000
      Market price range: $202k - $1.86M

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

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.3388
    Latitude
    36.0742
    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
    $68,107
    $2,935,900
    $1,715,200
    $4,651,100
    -
    $2,935,900
    $1,715,200
    $4,651,100

    Comparable in this City

    • Value Estimation
      $1,075,000
      37,143 SF

      125 Jonestown Rd

      MINI-MALL • 37,143 SF
      125 Jonestown Rd, Winston Salem, NC 27104-4616
      View Details
    • Value Estimation by Request
      7,980 SF

      101 Vinegar Hl Rd

      MINI-MALL • 7,980 SF
      101 Vinegar Hl Rd, Winston Salem, NC 27104-5069
      View Details
    • Value Estimation by Request
      3,834 SF

      5135 Country Clb Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 3,834 SF
      5135 Country Clb Rd, Winston Salem, NC 27104-2429
      View Details
    • Value Estimation by Request
      3,900 SF

      Peace Hvn Rd

      WHOLESALE OUTLET, DISCOUNT STORE • 3,900 SF
      Peace Hvn Rd, Winston Salem, NC 27104
      View Details
    • Value Estimation by Request
      3.37 Acres

      100 Clb Oaks Ct

      WHOLESALE OUTLET, DISCOUNT STORE • 3.37 Acres
      100 Clb Oaks Ct, Winston Salem, NC 27104-4680
      View Details
    • Value Estimation
      $900,000
      25,200 SF

      305 Jonestown Rd

      REGIONAL SHOPPING CENTER, MALL • 25,200 SF
      305 Jonestown Rd, Winston Salem, NC 27104-4620
      View Details

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    Similar Nearby for Lease

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      Retail Space Near Medical Centers

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      55 Miller St, Winston Salem, NC 27104
      View Details
    • $965 /Mo

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      Apartment near Hanes Park with stove, fridge, and rooftop patio.
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      View Details
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    420 Jonestown Rd, Unit A
    Winston Salem, NC 27104-4770
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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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