Efficient readout of individual electronic spins associated with atomlike impurities in the solid state is essential for applications in quantum information processing and quantum metrology. We demonstrate a new method for efficient spin readout of nitrogen-vacancy (NV) centers in diamond. The method is based on conversion of the electronic spin state of the NV to a charge-state distribution, followed by single-shot readout of the charge state. Conversion is achieved through a spin-dependent photoionization process in diamond at room temperature. Using NVs in nanofabricated diamond beams, we demonstrate that the resulting spin readout noise is within a factor of 3 of the spin projection noise level. Applications of this technique for nanoscale magnetic sensing are discussed.