Warehouse and Office Space
For Sale
Contact for pricing
112 South Walnut Circle, Greensboro, NC 27409
8,400 SF warehouse with office space for sale.
Property Size8,400 SF
Lot Size0.49 Acres
Price / SF$94.64
Days on Market177
Property Features for 112 South Walnut Circle
General Information
Standard status
Active
Size
8,400 SF
Lot size
0.49 Acres
Property subtype
Industrial
Zoning
Light Industrial
Lease Type
NNN
Building Details
Tenancy
Multi
Listing Agency:
Joubran Commercial Properties
(336) 270-9775
Listed By:
JJ Joubran, CCIM, SIOR · License #NC 198904
Source:
Crexi
Added: Feb 25
Changed: Aug 14
Last Checked: Aug 20 at 1:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Joubran Commercial Properties
Investment Insights
Based on property information with market context.
This property, located off West Market Street on South Walnut Circle, is situated minutes from West Wendover Avenue and Interstate 40. The building includes approximately 1,400 square feet of office space and 7,000 square feet of warehouse space, situated on a 0.49-acre lot.
Key Highlights
- Large warehouse space available (7,000 SF)
- Office space available (1,400 SF)
- Convenient location off West Market Street
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
$39,754
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
5.00%
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%
$795,080
$795.1K
Cap Rate 7%
$567,914
$567.9K
Cap Rate 9%
$441,711
$441.7K
Market Conditions
NOI Build-Up for 8,400 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
$60.5K $7.20/SF
− Vacancy
−$3.7K −$0.44/SF
EGI
$56.8K $6.76/SF
− OpEx
−$17.0K −$2.03/SF
NOI
$39.8K $4.73/SF
Area
Greensboro, NC
Vacancy
6.10%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
30.00%
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%
$795,080
Cap Rate 7%
$567,914
Cap Rate 9%
$441,711
Alternative Uses
Best Use
Industrial
$567.9K
$496.9K – $662.6K
NOI $39,754 @ 7.0% cap · market cap 5.00%
Second Best
Flex RnD
$527.3K
$461.4K – $615.2K
NOI $36,914 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$2.66M
$2.33M – $3.11M
NOI $186,391 @ 7.0% cap · market cap 23.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27409, NC
17,378
Population
9,616
Households
1.8
Avg Household Size
36
Median Age
38%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
873
Density / Sq Mi
$57,862
Median Household Income
$40,298
Median Earnings
$1,173
Median Rent
$189,200
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 8,400 SF warehouse with office space for sale.
Where is this flex space located?
The property is located at 112 South Walnut Circle Greensboro, NC.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Large warehouse space available (7,000 SF); Office space available (1,400 SF); Convenient location off West Market Street
