Flex Space With
For Sale
Contact for pricing
1705 Holbrook Street, Greensboro, NC 27403
Office and warehouse configuration with subdivision potential, multiple private offices, and dedicated loading access.
Property Size13,080 SF
Price / SF$99.01
Days on Market9
Property Features for 1705 Holbrook Street
General Information
Standard status
Active
Size
13,080 SF
Class
C
Total Parking Spaces
30
Property subtype
Office, Industrial, Mixed Use
Zoning
LI
Warehouse & Industrial
Clear Height
18 ft
Warehouse Space
5,280 SF
Office Build-Out
7,800 SF
Dock-High Doors
1
Power
600 amps
Additional Details
Office Units
20
Amenities
Security cameras
Intercom system
Electronic strike plates with key fob system
Conference room
Building Details
Year Built
1964
Buildings
1
Listing Agency:
Simpson Commercial Real Estate
Listed By:
Ben Cain · License #363047
Source:
Crexi
Added: Aug 10
Changed: Aug 15
Last Checked: Aug 18 at 12:31PM
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 Simpson Commercial Real Estate
Investment Insights
Based on property information with market context.
This LI-zoned flex property combines 7,800 square feet of office space with 5,280 square feet of warehouse area. The office portion includes 20 offices, an 836-square-foot conference room, 5 bathrooms, and a 9-foot drop ceiling. The warehouse offers 12-foot clear height, with 18-foot clearance at the center and 15-foot clearance along the sides. A lofted loading area provides additional clearance from 10 to 13 feet, while the loading dock has 8-foot clear height.
Built in 1964, the property includes 600-amp electrical service, 2 generators, 26 security cameras, an intercom system, and electronic strike plates operated by key fob. The building can be subdivided and includes a men's bathroom with a shower.
Built in 1964, the property includes 600-amp electrical service, 2 generators, 26 security cameras, an intercom system, and electronic strike plates operated by key fob. The building can be subdivided and includes a men's bathroom with a shower.
Key Highlights
- 7,800 SF of office space and 5,280 SF of warehouse space
- 20 offices and an 836 SF conference room
- Warehouse clear heights range from 12 to 18 feet
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
$75,167
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
5.80%
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%
$1,503,340
$1.5M
Cap Rate 7%
$1,073,814
$1.1M
Cap Rate 9%
$835,189
$835.2K
Market Conditions
NOI Build-Up for 13,080 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
$94.2K $7.20/SF
− Vacancy
−$5.7K −$0.44/SF
EGI
$88.4K $6.76/SF
− OpEx
−$13.3K −$1.01/SF
NOI
$75.2K $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%
$1,503,340
Cap Rate 7%
$1,073,814
Cap Rate 9%
$835,189
Alternative Uses
Best Use
Office B
$2.56M
$2.24M – $2.98M
NOI $178,899 @ 7.0% cap · market cap 13.81%
Second Best
Mixed Use
$2.14M
$1.87M – $2.50M
NOI $149,975 @ 7.0% cap · market cap 11.58%
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,238 @ 7.0% cap · market cap 22.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Dock-high doors
20
Office units
Location Intelligence
Trade Area within ½ mile
844
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27403, NC
23,679
Population
8,671
Households
2.7
Avg Household Size
28
Median Age
48%
College-Educated
88%
High-School Grad
5.8 sq mi
ZIP Area
4,083
Density / Sq Mi
$56,722
Median Household Income
$24,843
Median Earnings
$998
Median Rent
$218,600
Median Home Value
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse configuration with subdivision potential, multiple private offices, and dedicated loading access.
Where is this flex space located?
The property is located at 1705 Holbrook Street Greensboro, NC.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 7,800 SF of office space and 5,280 SF of warehouse space; 20 offices and an 836 SF conference room; Warehouse clear heights range from 12 to 18 feet
