Spacious Warehouse with Office
For Sale
$2,100,000
1302 Ohenry Boulevard N, Greensboro, NC 27405
30,000+ sq ft warehouse with loading deck and office.
Property Size30,000 SF
Price / SF$70
Days on Market518
Property Features for 1302 Ohenry Boulevard N
General Information
Standard status
Active
Size
30,000 SF
Property subtype
Commercial
Listing Agency:
THE ALSTON REALTY GROUP, INC.
(336) 379-7945
Listed By:
MELVIN ALSTON
Source:
Corcoran
Added: Mar 10, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:44AM
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 THE ALSTON REALTY GROUP, INC.
Investment Insights
Based on property information with market context.
This property features a warehouse with over 30,000 square feet of space. It includes a loading deck and truck parking located in the back. The lobby area offers two entryways suitable for office space. The property is intended for warehouse use, offering substantial storage or rentable space.
Key Highlights
- 30,000+ sq ft warehouse space
- Loading deck for easy loading/unloading
- Truck parking available
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
$172,400
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
8.21%
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%
$3,448,000
$3.4M
Cap Rate 7%
$2,462,857
$2.5M
Cap Rate 9%
$1,915,556
$1.9M
Market Conditions
NOI Build-Up for 30,000 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
$216.0K $7.20/SF
− Vacancy
−$13.2K −$0.44/SF
EGI
$202.8K $6.76/SF
− OpEx
−$30.4K −$1.01/SF
NOI
$172.4K $5.75/SF
Area
Greensboro, NC
Vacancy
6.10%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
15.00%
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%
$3,448,000
Cap Rate 7%
$2,462,857
Cap Rate 9%
$1,915,556
Alternative Uses
Best Use
Office B
$5.86M
$5.13M – $6.84M
NOI $410,319 @ 7.0% cap · market cap 19.54%
Second Best
Warehouse
$2.46M
$2.16M – $2.87M
NOI $172,400 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$9.51M
$8.32M – $11.09M
NOI $665,683 @ 7.0% cap · market cap 31.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
225
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27405, NC
51,506
Population
21,762
Households
2.4
Avg Household Size
34
Median Age
23%
College-Educated
84%
High-School Grad
31.4 sq mi
ZIP Area
1,640
Density / Sq Mi
$46,498
Median Household Income
$31,677
Median Earnings
$1,002
Median Rent
$150,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 30,000+ sq ft warehouse with loading deck and office.
Where is this warehouse located?
The property is located at 1302 Ohenry Boulevard N Greensboro, NC.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 30,000+ sq ft warehouse space; Loading deck for easy loading/unloading; Truck parking available
