Guitar Center Retail
For Sale
Contact for pricing
2221 Vanstory Street, Greensboro, NC 27403
Commercial retail property built in 2006 with annual rent increases and exercised renewal options.
Property Size10,000 SF
Price / SF$313.30
Days on Market75
Property Features for 2221 Vanstory Street
General Information
Standard status
Active
Size
10,000 SF
Total Parking Spaces
74
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$235,000
Additional Details
Cap Rate
7.5%
Building Details
Year Built
2006
Tenancy
Single
Listing Agency:
Berkeley Capital Advisors Charlotte
Listed By:
Carl Brendes · License #NC 287166
Source:
Crexi
Added: Aug 3
Changed: Oct 5
Last Checked: Oct 16 at 7:06AM
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 Berkeley Capital Advisors Charlotte
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Investment Insights
Based on property information with market context.
This commercial retail property, identified as Guitar Center, was built in 2006 and carries a listed property size of 10,000. The asset is designated Commercial under the stated zoning information.
Investment terms include a 7.50% cap rate, annual rent increases, and multiple renewal options that have been exercised. The property is located at 2221 Vanstory Street in Greensboro, North Carolina 27403.
Investment terms include a 7.50% cap rate, annual rent increases, and multiple renewal options that have been exercised. The property is located at 2221 Vanstory Street in Greensboro, North Carolina 27403.
Key Highlights
- 7.50% cap rate
- Annual rent increases
- Multiple renewal options exercised
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,022
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,260,440
$2.3M
Cap Rate 7%
$1,614,600
$1.6M
Cap Rate 9%
$1,255,800
$1.3M
Market Conditions
NOI Build-Up for 10,000 SF
Gross rent
$180.0K $18.00/SF
− Vacancy
−$18.5K −$1.85/SF
EGI
$161.5K $16.15/SF
− OpEx
−$48.4K −$4.84/SF
NOI
$113.0K $11.30/SF
Area
Greensboro, NC
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,260,440
Cap Rate 7%
$1,614,600
Cap Rate 9%
$1,255,800
Alternative Uses
Best Use
Retail
$1.61M
$1.41M – $1.88M
NOI $113,022 @ 7.0% cap · market cap 3.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.17M
$2.77M – $3.70M
NOI $221,894 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
176k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 64%
Hotels & Casinos 16%
Shops & Services 16%
Dining 3%
JCPenney
Apparel
59,485 visits/mo
0.4 miles
Dillard's
Apparel
53,692 visits/mo
0.2 miles
Sheraton Greensboro at Four Seasons
Hotels & Casinos
27,142 visits/mo
0.5 miles
Bank of America
Shops & Services
15,134 visits/mo
0.5 miles
Guitar Center
Shops & Services
9,521 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Greensboro, NC
Frequently Asked Questions
What type of property is this?
Retail space - Commercial retail property built in 2006 with annual rent increases and exercised renewal options.
Where is this retail space located?
The property is located at 2221 Vanstory Street Greensboro, NC.
What is the asking price?
The asking price for this property is $3,133,000.
What are key features of this property?
This property features: 7.50% cap rate; Annual rent increases; Multiple renewal options exercised
