Northmarq is pleased to present the exclusive listing of Garden Innovation, a 70-unit apartment community ideally located in the heart of Winston-Salem, NC. Just minutes from downtown with direct access to US-421 and US-52, the property offers seamless connectivity to the region’s top employers and major economic drivers. Less than a mile from Innovation Quarter—a 330-acre research and technology hub anchored by Wake Forest University and several Fortune 500 companies—Garden Innovation benefits from the continued growth of one of the Southeast’s most dynamic employment centers. Residents also enjoy walkable access to downtown Winston-Salem, recently ranked one of America’s Top 10 Downtowns, offering vibrant lifestyle amenities including the Arts District, Restaurant Row, Industry Hill, local breweries, restaurants, retail, and Truist Stadium.
Built in 1970, Garden Innovation presents a compelling value-add opportunity with 33 units already upgraded and 37 units primed for renovation. A targeted improvement program allows new ownership to close a $140 gap to average market comparable rents and a $323 delta to top-tier competitors, with projected premiums of $210+ over current in-place rents. Additionally, there is meaningful operational upside, with the potential to drive approximately $150k in additional NOI through improved management and ancillary income strategies.
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