Medical Office Condo For
For Sale
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1910 N Church St., Greensboro, NC 27405
9,664 SF medical office condo on two floors.
Property Size9,664 SF
Price / SF$162.98
Days on Market506
Property Features for 1910 N Church St.
General Information
Standard status
Active
Size
9,664 SF
Property subtype
Office
Building Details
Stories
2
Listing Agency:
Brown Investment Properties
Listed By:
Bill Strickland · License #225073
Source:
Crexi
Added: Apr 2, 2025
Changed: Aug 8
Last Checked: Aug 18 at 11:45PM
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 Brown Investment Properties
Investment Insights
Based on property information with market context.
This is a medical office condo offering approximately 9,664 square feet across two floors. The layout includes a waiting room, breakroom, conference room, file rooms, exam rooms, a surgical room, and restrooms. The first floor, encompassing approximately 5,595 square feet, is currently used as a veterinary clinic. The second floor, with approximately 4,069 square feet, has several rooms used for storage. Please note that the building does not have elevators. The property is available for sale or lease.
Key Highlights
- Large medical office condo offering 9,664 +/- SF on two floors.
- Versatile space includes a waiting room, breakroom, conference room, file rooms, exam rooms, surgical room, and restroom.
- Established veterinary clinic occupies 5,595 +/- SF on the first floor.
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
$132,177
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
8.39%
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%
$2,643,540
$2.6M
Cap Rate 7%
$1,888,243
$1.9M
Cap Rate 9%
$1,468,633
$1.5M
Market Conditions
NOI Build-Up for 9,664 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
$193.7K $20.04/SF
− Vacancy
−$17.4K −$1.80/SF
EGI
$176.2K $18.24/SF
− OpEx
−$44.1K −$4.56/SF
NOI
$132.2K $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%
$2,643,540
Cap Rate 7%
$1,888,243
Cap Rate 9%
$1,468,633
Alternative Uses
Best Use
Office B
$1.89M
$1.65M – $2.20M
NOI $132,177 @ 7.0% cap · market cap 8.39%
Second Best
Healthcare Medical
$1.52M
$1.33M – $1.77M
NOI $106,375 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$3.06M
$2.68M – $3.57M
NOI $214,439 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,955
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
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Frequently Asked Questions
What type of property is this?
Medical Office Space - 9,664 SF medical office condo on two floors.
Where is this medical office space located?
The property is located at 1910 N Church St. Greensboro, NC.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: Large medical office condo offering 9,664 +/- SF on two floors.; Versatile space includes a waiting room, breakroom, conference room, file rooms, exam rooms, surgical room, and restroom.; Established veterinary clinic occupies 5,595 +/- SF on the first floor.
