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    Property profile & analytics

    502 Elm St High Point, NC 27260-7502

    • Retail space
    • 10,500 SF
    • 0.41 lot acres
    OFF-MARKET
    Value Estimations
    $250,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2018617
    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

    • The Red House Furniture Store / Furniture Store / Electronics Store

    Property Details for 502 Elm St

    Year built
    1971
    Lot size
    0.41 lot acres
    Property size
    10,500 SF
    Zone code
    GB
    Property type
    Retail space
    APN
    172542
    APU
    172542

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $295,000
      Market price range: $250k - $826k

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

    Location Insight

    • Map
    • Local Demand
    City
    High Point
    County
    Guilford
    State
    North Carolina
    Longitude
    -80.0061
    Latitude
    35.9496
    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
    $6,202
    $178,000
    $282,100
    $460,100
    -
    $178,000
    $282,100
    $460,100

    Comparable in this City

    • Value Estimation
      $335,000
      1.77 Acres

      210 Commerce Ave

      RETAIL STORES (PERSONAL SERVICES) • 1.77 Acres
      210 Commerce Ave, High Point, NC 27260-6686
      View Details
    • Value Estimation
      $655,000
      22,352 SF

      311 Richardson Ave

      RETAIL STORES (PERSONAL SERVICES) • 22,352 SF
      311 Richardson Ave, High Point, NC 27260-5037
      View Details
    • Value Estimation
      $1,365,000
      121,668 SF

      220 Main St

      RETAIL STORES (PERSONAL SERVICES) • 121,668 SF
      220 Main St, High Point, NC 27260
      View Details
    • Value Estimation
      $270,000
      5,050 SF

      103 Main St, Unit 105

      RETAIL STORES (PERSONAL SERVICES) • 5,050 SF
      103 Main St, High Point, NC 27260-5007
      View Details
    • Value Estimation
      $775,000
      33,192 SF

      118 Main St

      RETAIL STORES (PERSONAL SERVICES) • 33,192 SF
      118 Main St, High Point, NC 27260-5008
      View Details
    • Value Estimation
      $240,000
      2.60 Acres

      1804 Royal Pl

      RETAIL STORES (PERSONAL SERVICES) • 2.60 Acres
      1804 Royal Pl, High Point, NC 27260-7058
      View Details

    Similar Nearby for Sale

    • $4,500,000
      13,150 SF

      High Point Retail Investment Opportunity

      Fully leased retail property with high traffic exposure on Main.
      1807-1813 N Main St, High Point, NC 27260
      View Details
    • $4,950,000

      Furniture Showroom with Parking

      One-level showroom near High-End district with loading dock.
      320 E Commerce Ave, High Point, NC 27260
      View Details
    • $4,250,000
      16,700 SF

      New Showroom Building For Sale

      New showroom building available for lease or sale.
      315 S Elm St, High Point, NC 27260
      View Details
    • $8,000,000
      60,000 SF

      High Point Manufacturing/Showroom Opportunity

      60,000+/- SF building suitable for manufacturing or showroom use.
      501 S Centennial St, High Point, NC 27260
      View Details
    • $1,980,000
      12,044 SF

      Office and Warehouse Space Available

      12,044 SF office and warehouse space for sale.
      417-423 S Wrenn St, High Point, NC 27260
      View Details
    • $300,000

      Retail Property in High Point

      Retail property previously used as a convenience store for sale.
      608 W Ward Ave, High Point, NC 27260
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      13,327 SF

      High Point Showroom with Loading

      Well-maintained showroom with open floor plan, loading docks.
      100 N Centennial St, High Point, NC 27260
      View Details
    • $13 SF/Yr
      4,700 SF

      Retail Space on N. Main

      Turnkey retail space with open floorplan on N. Main Street.
      1570 N Main St, High Point, NC 27260
      View Details
    • $18 SF/Yr
      3,824 SF

      Retail Space in High Point

      Retail space available for lease in High Point, NC.
      120 S Main St, High Point, NC 27260
      View Details
    • $12 SF/Yr
      5,655 SF

      Retail Suites at Eastgate Center

      Retail suites for lease near High Point University.
      101-143 Greensboro Rd, High Point, NC 27260
      View Details
    • $16 SF/Yr
      22,580 SF

      Showroom with High Ceilings

      Three-story showroom with a full lower level available for rent.
      114 S Main St, High Point, NC 27260
      View Details
    • $18 SF/Yr
      5,000 SF

      High Point Showroom Opportunity

      Prime showroom space in the heart of Furniture Market.
      124 S Main St, High Point, NC 27260
      View Details
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    502 Elm St
    High Point, NC 27260-7502
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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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