Office Building with Expansion
New
For Sale
Contact for pricing
1130 New Garden Rd, Greensboro, NC 27410
The office-zoned parcel includes on-site parking and land available for additional construction.
Property Size6,600 SF
Lot Size2.06 Acres
Price / SF$446.97
Days on Market4
Property Features for 1130 New Garden Rd
General Information
Standard status
Active
Size
6,600 SF
Lot size
2.06 Acres
Property subtype
OFFICE
Building Details
Year Built
2006
Buildings
1
Stories
1
Building Size
6,600 SF
Owner Occupied
No
Listing Agency:
NAI Piedmont Triad
(336) 373-0995
Listed By:
Robbie Perkins, SIOR, CCIM
(336) 337-0059
Source:
Moodyscre
Added: Sep 22
Changed: Sep 24
Last Checked: Sep 24 at 2:36PM
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 NAI Piedmont Triad
Investment Insights
Based on property information with market context.
Built in 2006, this single-story office building contains 6,600 square feet on a 2.06-acre parcel. On-site parking serves the property, and a portion of the site remains available for additional construction. The current lease runs through February 28, 2027.
The property is positioned at New Garden Road and a private drive, along a corridor near residential neighborhoods, retail businesses, and medical facilities.
The property is positioned at New Garden Road and a private drive, along a corridor near residential neighborhoods, retail businesses, and medical facilities.
Key Highlights
- 6,600‑square‑foot, single‑story office building constructed in 2006
- 2.06‑acre site with a portion available for additional construction
- Office zoning and on‑site parking
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
$90,270
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
3.06%
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%
$1,805,400
$1.8M
Cap Rate 7%
$1,289,571
$1.3M
Cap Rate 9%
$1,003,000
$1.0M
Market Conditions
NOI Build-Up for 6,600 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
$132.3K $20.04/SF
− Vacancy
−$11.9K −$1.80/SF
EGI
$120.4K $18.24/SF
− OpEx
−$30.1K −$4.56/SF
NOI
$90.3K $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%
$1,805,400
Cap Rate 7%
$1,289,571
Cap Rate 9%
$1,003,000
Alternative Uses
Best Use
Office B
$1.29M
$1.13M – $1.50M
NOI $90,270 @ 7.0% cap · market cap 3.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,450 @ 7.0% cap · market cap 4.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 27410, NC
54,968
Population
26,279
Households
2.1
Avg Household Size
42
Median Age
57%
College-Educated
96%
High-School Grad
31.9 sq mi
ZIP Area
1,723
Density / Sq Mi
$84,225
Median Household Income
$47,784
Median Earnings
$1,307
Median Rent
$308,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - The office-zoned parcel includes on-site parking and land available for additional construction.
Where is this office building located?
The property is located at 1130 New Garden Rd Greensboro, NC.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: 6,600‑square‑foot, single‑story office building constructed in 2006; 2.06‑acre site with a portion available for additional construction; Office zoning and on‑site parking
