Building Details

Year Built 1997

Year Renovated 2005

Buildings 5

Tenancy Multi

Listing Agency: Realty Executives Home Towne (Shelby)

Listed By: Maurice Khalifa · License #MI 6502376505 Show Phone

Source: Crexi

Added: Apr 25 Changed: Oct 4 Last Checked: Oct 14 at 10:52PM

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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.

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 / Yr

$182,975

Cap Rate

9.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,659,500 $3.7M

Cap Rate 7%

$2,613,929 $2.6M

Cap Rate 9%

$2,033,056 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 15,110 SF

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 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 (±1% cap)

NOI $182,975 @ 7.0% cap · market cap 9.15%

Second Best

Retail

$2.44M

$2.13M – $2.85M (±1% cap)

NOI $170,776 @ 7.0% cap · market cap 8.54%

Theoretical Best

Office A

$4.79M

$4.19M – $5.59M (±1% cap)

NOI $335,282 @ 7.0% cap · market cap 16.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Self storage facilities

Suggested Use

Top Pick Real Estate Agency Law Firm HVAC Service Electrical Service Skin Care Clinic Gym & Fitness Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

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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 $2,000,000.

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