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    650 Main St King, NC 27021-9016
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    Property profile & analytics

    650 Main St, King, NC 27021-9016

    View on Map
    • Super regional malls
    • 9,930 SF
    • 1.65 lot acres
    Off-Market
    Property ID
    US53-3628055
    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.
    Value Estimations
    $9,195,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Walgreens Photo / (Bike/Boat/Book/etc) Store
    • Walgreens Pharmacy / Pharmacy
    • James M. Sykes, RPh / Pharmacy
    • Walgreens / Pharmacy
    • FedEx OnSite / Postal Service / Courier Service

    Property Details for 650 Main St

    Year built
    1998
    Construction
    STEEL FRAME
    Lot size
    1.65 lot acres
    Zone code
    B-2
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    599108872873
    APU
    599108872873

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 13, 2018 — Rprx King LLC — Deed · related $1.8M · Truliant FCU
    Jan 6, 2016 $2,100,000 Rprx King LLC Rbw Development LLC Special Warranty Deed $750k · Shenandoah Life Insurance Company

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    King
    County
    Stokes
    State
    North Carolina
    Longitude
    -80.3628
    Latitude
    36.2642
    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
    $21,605
    $859,900
    $971,000
    $1,830,900
    -
    $859,900
    $971,000
    $1,830,900

    Comparable in this City

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      $835,000
      80,634 SF

      705 Main St

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    • Value Estimation
      $6,675,000
      7,200 SF

      141 Spruce Pne Way

      REGIONAL SHOPPING CENTER, MALL
      141 Spruce Pne Way, King, NC 27021-8444
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    • Value Estimation
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      7,500 SF

      124 5th Frks Dr Ste A

      REGIONAL SHOPPING CENTER, MALL
      124 5th Frks Dr Ste A, King, NC 27021-1059
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    • Value Estimation
      $8,290,000
      8,943 SF

      600 Main St

      REGIONAL SHOPPING CENTER, MALL
      600 Main St, King, NC 27021-9030
      View Details
    • Value Estimation
      $3,745,000
      4,000 SF

      King St

      REGIONAL SHOPPING CENTER, MALL
      King St, King, NC 27021
      View Details
    • Value Estimation
      $39,685,000
      43,423 SF

      133 Retail Cir

      REGIONAL SHOPPING CENTER, MALL
      133 Retail Cir, King, NC 27021-8422
      View Details

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      King, NC Retail/Office Opportunity

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      Retail and Office Spaces Available

      Retail, restaurant, and office spaces ready for upfit.
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      2.0 Acres Zoned B-2

      2.0 acres of commercial land in King, NC for sale.
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space in Shopping Center

      Retail space available in shopping center anchored by grocery store.
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      Versatile Industrial Space for Lease

      7,440 SF industrial space with highway visibility available for lease.
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      Restaurant or Retail Space Available

      Prime location in King, NC for restaurant or retail.
      607 S Main St, King, NC 27021
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      Retail Space Available For Rent

      Single tenant retail space available for rent, 1,582 SqFt.
      124 N Main St, King, NC 27021
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      4,725 SF

      King, NC Office Space Available

      Renovated office space for lease in King, North Carolina.
      320 E King St, King, NC 27021
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    • Contact for pricing
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      Commercial Units For Lease

      Commercial units available for lease in King, North Carolina.
      320 E King St, King, NC 27021
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    King, NC 27021-9016
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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.

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