Turnkey Office Condo
For Sale
Contact for pricing
2014 New Garden Rd, Greensboro, NC 27410
Turnkey office suite with six enclosed offices, reception area, kitchenette, private restroom, and dedicated storage.
Property Size1,100 SF
Price / SF$295.36
Days on Market113
Property Features for 2014 New Garden Rd
General Information
Standard status
Active
Size
1,100 SF
Property subtype
OFFICE
Listing Agency:
RE/MAX Realty Consultants
(336) 217-9300
Listed By:
Mark Mann · License #201593
(336) 686-0099
Source:
Moodyscre
Added: May 13
Changed: Aug 14
Last Checked: Jul 23 at 4:49PM
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 RE/MAX Realty Consultants
Investment Insights
Based on property information with market context.
This turnkey office condo suite is delivered vacant at closing and currently owner-occupied. The space includes six private enclosed offices, along with a welcoming foyer and reception area. Additional improvements include a kitchenette for staff, a private restroom, and dedicated storage, providing a complete, functional office configuration.
The property is located in an established office park on New Garden Road, just off the Battleground Avenue corridor in Greensboro, NC. The suite is positioned for straightforward day-to-day operation by a small professional practice or service firm.
With its combination of multiple enclosed offices and front-facing reception space, the layout is well-suited for client-facing work alongside individual office usage within a self-contained suite.
The property is located in an established office park on New Garden Road, just off the Battleground Avenue corridor in Greensboro, NC. The suite is positioned for straightforward day-to-day operation by a small professional practice or service firm.
With its combination of multiple enclosed offices and front-facing reception space, the layout is well-suited for client-facing work alongside individual office usage within a self-contained suite.
Key Highlights
- Turnkey 1,100 SF office condo suite in an established office park on New Garden Road
- Layout includes six private enclosed offices plus a foyer and reception area
- Includes a kitchenette, private restroom, and dedicated storage
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
$15,045
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
4.63%
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%
$300,900
$300.9K
Cap Rate 7%
$214,929
$214.9K
Cap Rate 9%
$167,167
$167.2K
Market Conditions
NOI Build-Up for 1,100 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
$22.0K $20.04/SF
− Vacancy
−$2.0K −$1.80/SF
EGI
$20.1K $18.24/SF
− OpEx
−$5.0K −$4.56/SF
NOI
$15.0K $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%
$300,900
Cap Rate 7%
$214,929
Cap Rate 9%
$167,167
Alternative Uses
Best Use
Office B
$214.9K
$188.1K – $250.8K
NOI $15,045 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$348.7K
$305.1K – $406.8K
NOI $24,408 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
651
Businesses Nearby
Explore this area
Business Placement
Demographics for 27410, NC
54,968
Population
26,279
Households
2.1
Avg Household Size
42
Median Age
57%
College-Educated
96%
High-School Grad
31.9 sq mi
ZIP Area
1,723
Density / Sq Mi
$84,225
Median Household Income
$47,784
Median Earnings
$1,307
Median Rent
$308,200
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?
Office units - Turnkey office suite with six enclosed offices, reception area, kitchenette, private restroom, and dedicated storage.
Where is this office units located?
The property is located at 2014 New Garden Rd Greensboro, NC.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Turnkey 1,100 SF office condo suite in an established office park on New Garden Road; Layout includes six private enclosed offices plus a foyer and reception area; Includes a kitchenette, private restroom, and dedicated storage
