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Property profile & analytics
OFF-MARKET
Estimated value
$7,170,000
Office Spaces
601 601st N Cherry St Winston Salem, NC 27101
Entity Owned
24-yr Hold
Free & Clear
Property ID
US53-2179782
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1925
Construction
CONCRETE
Total area
56,836 SF
Lot
0.67 ac (29,185 SF)
Zoning code
CB
APN
6835-18-5223.00
UPID
US53-2179782
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 Downtown School High School
-
Little Free Library #24433 Community Center
-
Sheila D. Royal, LCSW Foster Care Service Social Service Agency
-
Rhonda Lang, LCSW Foster Care Service Social Service Agency
-
Gay Macon, LCSW Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.86M
Comparable Approach
Comparable
$7.38M
Blend (final)
Blend
$7.17M
Owner & transaction history
WINSTON SALEM/FORSYTH COUNTY BOARD EDUCATION
WINSTON SALEM/FORSYTH COUNTY BOARD EDUCATION
Zoning & alternative use
CB · Winston Salem, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CB District is established to encourage high intensity, compact urban development and is intended to accommodate a wide range of uses, including office, retail, service, and institutional developments in a pedestrian-oriented setting
Zone name
Central Business
General category
CIVIC_INSTITUTIONAL
Zone area
82.08 ac
Source
Realmo
Top alternative use upside
Medical building
$9.4M
+52.6%
Auto repair, garage
$7.4M
+18.9%
Retail stores
$6.4M
+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%
$9,590,000
6.5%
$8,855,000
7%
$8,220,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,180,000
Current use
MEDICAL BUILDING
$9,435,000
Change: +53% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,350,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$6,435,000
Change: +4% · Conversion: Easy
Blend value · Realmo final
$7.17M
Range $6.45M – $7.89M · ±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
$126 / 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
Assessed value
$5,376,400
Assessed 2024
Assessed land
$437,800
Assessed improvement
$4,938,600
Land market value
$437,800
Improvement market value
$4,938,600
Total market value
$5,376,400
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
1925
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
YES
Stories
1
Total area
56,836 SF
Lot
0.67 ac (29,185 SF)
Zoning code
CB
APN
6835-18-5223.00
UPID
US53-2179782
Jurisdiction
FORSYTH
Zoning & alternative use
CB · Winston Salem, NCZoning CB · permitted uses
CB · Winston Salem, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The CB District is established to encourage high intensity, compact urban development and is intended to accommodate a wide range of uses, including office, retail, service, and institutional developments in a pedestrian-oriented setting
Zone name
Central Business
General category
CIVIC_INSTITUTIONAL
Zone area
82.08 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$6.2M
MEDICAL BUILDING
Est. value
$9.4M
AUTO REPAIR, GARAGE
Est. value
$7.4M
RETAIL STORES
Est. value
$6.4M
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
1925
Construction
CONCRETE
Heating
HEAT PUMP
Cooling
Yes
Stories
1
Lot
0.67 ac
Current owner
From public records · entity-resolved
WINSTON SALEM/FORSYTH COUNTY BOARD EDUCATION
Individual
Free & Clear · 0 yrs held
Mailing address
PO BOX 2513, WINSTON SALEM, NC 27102-2513
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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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