Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    508-512 Martin Luther King Jr Drive Greensboro, NC 27406

    View on Map
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $640,000

    Investment - Greensboro, NC

    Lot size:
    0.80 Acres
    Added:
    Apr 7, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 7 at 10:06 pm

    Property Features for 508-512 Martin Luther King Jr Drive

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    COMM
    Exterior features
    City Lot
    Standard status
    Active
    Lot size
    0.80 Acres

    Building Details

    Year built
    1968
    Architectural style
    Other

    We can help!

    Listing Contact
    Sara Clark

    Listing agent Sara Clark

    Listing office LEWIS & CLARK, REALTORS 1016 N Elm Street, greensboro, NC

    Listing date Apr 7, 2026

    MLS# 1215137 Listing URL

    Copyright © 2026 Triad Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Greensboro Commercial Land Investment

    This commercial land offers excellent potential for business or investment. The property consists of a combination of two parcels, identified as #0001273 and #0001274, totaling 0.80 acres. It is located in close proximity to downtown Greensboro and a redevelopment area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greensboro
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.786223
    Latitude
    36.063001

    Nearby Similar for Sale

    • $475,000

      Historic Fisher Park Office Building

      Stand-alone office building with 28 parking spots in downtown Greensboro.
      510 Church Street, Greensboro, NC 27401
      View Details
    • $1,690,000

      Greensboro Commercial Property For Sale

      Versatile commercial property in a high-growth Greensboro corridor.
      3718 Old Battleground Road, Greensboro, NC 27410
      View Details
    • $75,000

      Greensboro Office/Retail Space For Sale

      High-traffic location suitable for retail, office, or service uses.
      4929 W Market Street, Greensboro, NC 27407
      View Details
    • $350,000
      3,790 SF

      Greensboro Multifamily Renovation Opportunity

      Distressed five-unit property with value-add potential for experienced investors.
      3425 Martin Avenue, Greensboro, NC 27405
      View Details
    • $795,000

      Cleared Land Near Industrial Park

      Commercial land parcel with quick access to I-40.
      0 McConnell Road, Greensboro, NC 27405
      View Details
    • $300,000

      Greensboro Acreage: Ideal Rural Retreat

      10.01 acre property near Greensboro, perfect for a dream home.
      2533 Nelson Farm Road, Greensboro, NC 27406
      View Details
    • $499,000

      Residential Lot Near Greensboro Country Club

      Cleared lot near Greensboro Country Club and multiple parks.
      502 Nottingham Road, Greensboro, NC 27408
      View Details
    • $309,999
      2,438 SF

      Greensboro Triplex with Investment Potential

      Versatile triplex in Greensboro with immediate income potential.
      3530 Riverside Drive, Greensboro, NC 27406
      View Details
    • $185,000

      Greensboro Vacant Lot Opportunity

      Large vacant lot in Greensboro, build your dream home!
      5421 Rambling Road, Greensboro, NC 27409
      View Details
    • Sponsored
      $1,625,000
      5,270 SF

      1018 North Elm Street

      Three commercial properties at 1018 North Elm Street, Greensboro, NC.
      1018 North Elm St, Greensboro, NC 27401
      View Details
    • $210,000

      Residential Lot Near Downtown Greensboro

      Buildable lot in sought-after Westerwood neighborhood, near downtown Greensboro.
      1505 Mimosa Drive, Greensboro, NC 27403
      View Details
    • $309,999

      Greensboro Triplex with Remodeled Units

      Versatile triplex in Greensboro with strong income potential.
      3530 Riverside Drive, Greensboro, NC 27406
      View Details

    FAQs

    What type of property is this?
    Commercial land - Two parcels totaling 0.80 acres near downtown Greensboro.
    Where is this commercial land located?
    The property is located at 508-512 Martin Luther King Jr Drive Greensboro, NC.
    What is the asking price?
    The asking price for this property is $640,000.
    What are key features of this property?
    This property features: Excellent potential for business/investment.; Close proximity to Downtown.; Located within a Redevelopment Area.
    (336) 312-5782
    We can help!
    Listing Contact
    Sara Clark
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!