Self-Storage Facility with Car
For Sale
Contact for pricing
2106 BRISTOL RD, Greensboro, NC 27406
Storage operations and an operating car wash create a diversified commercial property with multiple on-site revenue components.
Property Size15,110 SF
Price / SF$145.60
Days on Market129
Property Features for 2106 BRISTOL RD
General Information
Standard status
Active
Size
15,110 SF
Property subtype
Office, Self Storage
Occupancy
73%
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$160,740
Building Details
Year Built
1997
Year Renovated
2005
Buildings
5
Tenancy
Multi
Listing Agency:
Realty Executives Home Towne (Shelby)
(586) 615-0101
Listed By:
Maurice Khalifa · License #MI 6502376505
Source:
Crexi
Added: Apr 25
Changed: Aug 30
Last Checked: Aug 30 at 9:39PM
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 Realty Executives Home Towne (Shelby)
Investment Insights
Based on property information with market context.
This self-storage facility includes 164 units totaling 15,110 RSF, with reported occupancy of 63%. The property also contains an operating car wash equipped with 6 self-service bays, 2 automatic bays, and 7 vacuum stations. Five buildings are situated on a 2.06-acre site, and the improvements date to 1997.
Located at 2106 Bristol Rd in Greensboro, the property benefits from approximately 24,000 vehicles per day and convenient access. The combination of storage space and car wash facilities provides two distinct operating components within one commercial property.
Located at 2106 Bristol Rd in Greensboro, the property benefits from approximately 24,000 vehicles per day and convenient access. The combination of storage space and car wash facilities provides two distinct operating components within one commercial property.
Key Highlights
- 164 self‑storage units totaling 15,110 RSF
- Reported occupancy of 63%
- Car wash includes 6 self‑service bays and 2 automatic bays
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
$182,975
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
8.32%
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%
$3,659,500
$3.7M
Cap Rate 7%
$2,613,929
$2.6M
Cap Rate 9%
$2,033,056
$2.0M
Market Conditions
NOI Build-Up for 15,110 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
$272.0K $18.00/SF
− Vacancy
−$28.0K −$1.85/SF
EGI
$244.0K $16.15/SF
− OpEx
−$61.0K −$4.04/SF
NOI
$183.0K $12.11/SF
Area
Greensboro, NC
Vacancy
10.30%
Lease Rate
$18.00 /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%
$3,659,500
Cap Rate 7%
$2,613,929
Cap Rate 9%
$2,033,056
Alternative Uses
Best Use
Specialty Retail
$2.61M
$2.29M – $3.05M
NOI $182,975 @ 7.0% cap · market cap 8.32%
Second Best
Retail
$2.44M
$2.13M – $2.85M
NOI $170,776 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$4.79M
$4.19M – $5.59M
NOI $335,282 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
196
Businesses Nearby
Explore this area
Business Placement
Demographics for 27406, NC
61,597
Population
28,080
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
88%
High-School Grad
69.4 sq mi
ZIP Area
888
Density / Sq Mi
$56,748
Median Household Income
$37,095
Median Earnings
$1,103
Median Rent
$191,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Storage operations and an operating car wash create a diversified commercial property with multiple on-site revenue components.
Where is this self storage facility located?
The property is located at 2106 BRISTOL RD Greensboro, NC.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 164 self‑storage units totaling 15,110 RSF; Reported occupancy of 63%; Car wash includes 6 self‑service bays and 2 automatic bays
