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    Property profile & analytics

    61 Miller St Winston-Salem, NC 27104

    • Office Properties & Spaces
    • 2,040 SF
    • 0.08 lot acres
    For Sale
    View listing
    $425,000
    Last Sale
    Feb 24, 2023
    $320,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1746566
    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

    • Eanes Heating & Air Conditioning / Air Conditioning System Supplier / Electrician
    • Drayford Dumpster / Dumpster Rental Service
    • Master Plumbers Heating Cooling / Plumber / Air Conditioning Contractor

    Property Details for 61 Miller St

    Year built
    1986
    Construction
    STEEL FRAME
    Lot size
    0.08 lot acres
    Property size
    2,040 SF
    Zone code
    GB
    Property type
    Office Properties & Spaces
    APN
    6825-35-5492.00
    APU
    682535549200

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Winston Salem
    County
    Forsyth
    State
    North Carolina
    Longitude
    -80.274
    Latitude
    36.0937
    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
    $4,078
    $81,900
    $204,700
    $286,600
    -
    $81,900
    $204,700
    $286,600

    Comparable in this City

    • Value Estimation
      $4,475,000
      29,084 SF

      4400 Silas Crk Pkwy

      OFFICE (GENERAL) • 29,084 SF
      4400 Silas Crk Pkwy, Winston Salem, NC 27104-3823
      View Details
    • Value Estimation by Request
      1,069 SF

      4622 Country Clb Rd Ste, Unit 200

      OFFICE (GENERAL) • 1,069 SF
      4622 Country Clb Rd Ste, Winston Salem, NC 27104-3770
      View Details
    • Value Estimation by Request
      1,403 SF

      4622 Country Clb Rd Ste, Unit 270

      OFFICE (GENERAL) • 1,403 SF
      4622 Country Clb Rd Ste, Winston Salem, NC 27104-3775
      View Details
    • Value Estimation
      $675,000
      23,086 SF

      120 Clb Oaks Ct

      OFFICE (GENERAL) • 23,086 SF
      120 Clb Oaks Ct, Winston Salem, NC 27104-4767
      View Details
    • Value Estimation by Request
      2,056 SF

      4375 Silas Crk Pkwy

      OFFICE (GENERAL) • 2,056 SF
      4375 Silas Crk Pkwy, Winston Salem, NC 27104-3837
      View Details
    • Value Estimation by Request
      1,568 SF

      4712 Country Clb Rd Ste C

      OFFICE (GENERAL) • 1,568 SF
      4712 Country Clb Rd Ste C, Winston Salem, NC 27104-3749
      View Details

    Similar Nearby for Sale

    • $425,000
      2,040 SF

      Prime Winston-Salem Office Building

      Vacant, 2,040 SF Office Space, $425,000
      61 Miller St, Winston-Salem, NC 27104
      View Details
    • $314,000
      26.26 Acres

      Prime Winston-Salem Land Tract

      26 Acres, Agricultural & Residential Potential
      01 Stone Xing Dr, Winston-Salem, NC 27104
      View Details
    • $500,000
      1.13 Acres

      Winston-Salem Retail Outparcels

      Grocery-anchored land, prime location.
      5128 Brookberry Park Ave, Winston-Salem, NC 27104
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    • $199,000
      0.34 Acres

      Residential Lot in Sherwood Forest

      Vacant lot in desirable Sherwood Forest neighborhood with utilities available.
      1039 Huntingdon Rd, Winston Salem, NC 27104
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    • $67,500

      Semi Cleared Lot For Sale

      Semi-cleared lot with water and sewer connections in established location.
      224 Longwood Dr, Winston Salem, NC 27104
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    • $95,000
      4.30 Acres

      Winston-Salem Land Available

      4.3 acres of unimproved land in Winston-Salem, North Carolina.
      Peace Haven Rd, Winston Salem, NC 27104
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Space Near Medical Centers

      Retail space near hospitals and Whole Foods.
      55 Miller St, Winston Salem, NC 27104
      View Details
    • $965 /Mo

      Reynolda Road Apartment Near Hanes Park

      Apartment near Hanes Park with stove, fridge, and rooftop patio.
      841 Reynolda Rd, Winston Salem, NC 27104
      View Details
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    61 Miller St
    Winston-Salem, NC 27104
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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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