Brick Office Building with
New
For Sale
Contact for pricing
1842 Banking St, Greensboro, NC 27408
Separate suite areas share restrooms, a utility room and hallway, allowing use of part or all of the property.
Property Size3,840 SF
Lot Size0.16 Acres
Price / SF$214.84
Days on Market5
Property Features for 1842 Banking St
General Information
Standard status
Active
Size
3,840 SF
Net Rentable
3,840 SF
Total Parking Spaces
11
Lot size
0.16 Acres
Property subtype
OFFICE
Zoning
C-M
Additional Details
Office Units
4
Property Use
Office
Building Details
Year Built
1961
Buildings
1
Stories
1
Building Size
3,840 SF
Construction
brick
Listing Agency:
Joubran Commercial Properties
Listed By:
JJ Joubran, CCIM, SIOR · License #198904
(336) 270-9775
Source:
Moodyscre
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 4:10PM
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 Joubran Commercial Properties
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Investment Insights
Based on property information with market context.
Built in 1961, this one-story brick office contains 3,840+/- SF on a 0.16+/- AC site and is zoned C-M (Commercial-Medium). Its four suites measure 1,815 RSF, 507 RSF, 656 RSF and 862 RSF. The interior includes 15 private offices, a 13' x 23' work room, a break room, men’s and women’s restrooms, and packaged rooftop HVAC. Eleven parking spaces are on site, with additional street parking available.
The property sits one block from Battleground Avenue, where AADT is 29,000, and behind Irving Park Plaza. Nearby businesses include Moe's, Pastabilities, CoreLife Eatery and Chase Bank. Friendly Center, downtown Greensboro and Moses Cone Hospital are about five minutes away.
The property sits one block from Battleground Avenue, where AADT is 29,000, and behind Irving Park Plaza. Nearby businesses include Moe's, Pastabilities, CoreLife Eatery and Chase Bank. Friendly Center, downtown Greensboro and Moses Cone Hospital are about five minutes away.
Key Highlights
- 3,840+/- SF office building on a 0.16+/- AC site
- Four suites: 1,815 RSF, 507 RSF, 656 RSF and 862 RSF
- 15 private offices and a 13' x 23' work room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,521
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,050,420
$1.1M
Cap Rate 7%
$750,300
$750.3K
Cap Rate 9%
$583,567
$583.6K
Market Conditions
NOI Build-Up for 3,840 SF
Gross rent
$77.0K $20.04/SF
− Vacancy
−$6.9K −$1.80/SF
EGI
$70.0K $18.24/SF
− OpEx
−$17.5K −$4.56/SF
NOI
$52.5K $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 Rate 5%
$1,050,420
Cap Rate 7%
$750,300
Cap Rate 9%
$583,567
Alternative Uses
Best Use
Office B
$750.3K
$656.5K – $875.4K
NOI $52,521 @ 7.0% cap · market cap 6.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.22M
$1.07M – $1.42M
NOI $85,207 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
1,911
Businesses Nearby
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Business Placement
Demographics for 27408, NC
17,896
Population
8,043
Households
2.2
Avg Household Size
44
Median Age
65%
College-Educated
97%
High-School Grad
7.7 sq mi
ZIP Area
2,324
Density / Sq Mi
$89,524
Median Household Income
$53,080
Median Earnings
$1,139
Median Rent
$331,000
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Separate suite areas share restrooms, a utility room and hallway, allowing use of part or all of the property.
Where is this office building located?
The property is located at 1842 Banking St Greensboro, NC.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: 3,840+/- SF office building on a 0.16+/- AC site; Four suites: 1,815 RSF, 507 RSF, 656 RSF and 862 RSF; 15 private offices and a 13' x 23' work room
