For Sale
$1,625,000
1018 North Elm St, Greensboro, NC 27401
THREE PROPERTIES/.66 AC HIGH VISIBILITY REDEVELOPMENT OPPORTUNITY/DUAL STREET ACCESS
Property Size5,270 SF
Lot Size0.66 Acres
Price / SF$308.35
Days on Market122
Property Features for 1018 North Elm St
General Information
Standard status
Active
Property type
Commercial land, Office Units, Medical Office Space, Land, Office Spaces
Size
5,270 SF
Net Rentable
5,270 SF
Class
A
Total Parking Spaces
46
Elevators
No
Lot size
0.66 Acres
Investment Type
Owner User
Building Details
Year Built
1953
Year Renovated
2024
Buildings
2
Stories
1
Units
2
Listing Agency:
(336) 549-1860
Listed By:
Property
(336) 549-1860
Added: Apr 21
Investment Insights
Based on property information with market context.
Key Highlights
- .66 AC High Visibility Redevelopment Opportunity or Utilize Existing 5,270 SF Building with Dual Street Access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,079
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,441,580
$1.4M
Cap Rate 7%
$1,029,700
$1.0M
Cap Rate 9%
$800,878
$800.9K
Market Conditions
NOI Build-Up for 5,270 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$105.6K $20.04/SF
− Vacancy
−$9.5K −$1.80/SF
EGI
$96.1K $18.24/SF
− OpEx
−$24.0K −$4.56/SF
NOI
$72.1K $13.68/SF
Area
Greensboro, NC
Vacancy
9.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,441,580
Cap Rate 7%
$1,029,700
Cap Rate 9%
$800,878
Alternative Uses
Best Use
Office B
$1.03M
$901.0K – $1.20M
NOI $72,079 @ 7.0% cap · market cap 4.44%
Second Best
Healthcare Medical
$828.7K
$725.1K – $966.8K
NOI $58,009 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $116,938 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,893
Businesses Nearby
Explore this area
Business Placement
Demographics for 27401, NC
21,854
Population
9,650
Households
2.3
Avg Household Size
29
Median Age
32%
College-Educated
85%
High-School Grad
5.8 sq mi
ZIP Area
3,768
Density / Sq Mi
$44,524
Median Household Income
$22,542
Median Earnings
$883
Median Rent
$138,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - THREE PROPERTIES/.66 AC HIGH VISIBILITY REDEVELOPMENT OPPORTUNITY/DUAL STREET ACCESS
Where is this commercial land located?
The property is located at 1018 North Elm St Greensboro, NC.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: .66 AC High Visibility Redevelopment Opportunity or Utilize Existing 5,270 SF Building with Dual Street Access
