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    The Largest CRE Database in the US with Over 1 Million Listings

    Redbourne Dr Greensboro, NC

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    For Lease
    Contact for pricing

    Commercial land for rent at NC 68 and I-73.

    Lot size:
    1.68 Acres

    Property Features for Redbourne Dr

    General Information

    Lot size
    1.68 Acres

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    Listing Contact
    Robbie Perkins, Sior, Ccim
    Source: Moodyscre

    Listing Agent: Robbie Perkins, Sior, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Commercial Outparcels NC 68 Interchange

    Commercial outparcels are available for rent at the NC 68 and I-73 interchange in Northwest Greensboro, NC. The available lots include 1.683-acre and 2.587-acre graded sites with detention and utilities in place. The properties are zoned PUD and located within the NC-68 Scenic Corridor Overlay District. Signalized intersections are present at Lambourne Rd and NC 68, and at NC 68 and the I-73 ramp. Traffic counts on NC 68 are approximately 22,320 vehicles per day as of 2022. Contiguous lots can be combined to create a 4.27-acre site. 320 apartments on the west side of Radbourne are scheduled to open in October 2024. There are 264 apartments on the east side of NC 68, with an additional 200 units under construction. Businesses such as Sheetz, Greensboro ABC, Bee Safe, and All-American Pet Resort have already established locations at the interchange. Cone Health has purchased 6 acres on the east side of NC 68 for a future medical office building. Additionally, 600,000 square feet of Class A industrial space has been built and is currently occupied southeast of the properties. Guilford Technical Community College's Aviation campus is located directly across Lambourne from the site.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Greensboro
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.792762
    Latitude
    36.070635

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    FAQs

    What type of property is this?
    Land - Commercial land for rent at NC 68 and I-73.
    Where is this land located?
    The property is located at Redbourne Dr Greensboro, NC.
    What are key features of this property?
    This property features: - High-traffic location at NC 68/I-73 interchange with ±22,320 VPD (2022).; - Graded lots (1.683 and 2.587 acres) with detention and utilities in place.; - Significant residential development nearby: 320 apartments opening soon, 264 existing, and 200 under construction.
    (336) 337-0059
    Request Owner's contact information
    Redbourne Dr Greensboro, NC
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    Greensboro, NC
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    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
    Redbourne Dr Greensboro, NC
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    Listing Contact
    Robbie Perkins, Sior, Ccim
    (336) 337-0059
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