Corner Retail and Office
For Sale
Contact for pricing
2310 W Gate City Blvd, Greensboro, NC 27403
Corner commercial property with strong accessibility and Commercial Auto zoning, including potential for drive-thru use.
Property Size6,649 SF
Price / SF$146.64
Days on Market50
Property Features for 2310 W Gate City Blvd
General Information
Standard status
Active
Size
6,649 SF
Property subtype
Retail, Office
Zoning
Commercial Auto (CA)
Investment Type
Owner/User
Building Details
Year Built
1968
Buildings
1
Listing Agency:
Greensboro Commercial Properties
Listed By:
Aaron Uzzell · License #355009
Source:
Crexi
Added: Jul 2
Changed: Aug 15
Last Checked: Aug 19 at 12:45PM
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 Greensboro Commercial Properties
Investment Insights
Based on property information with market context.
This property is a highly visible commercial building positioned on a corner lot, offering a flexible retail and office configuration for an owner-operator or redevelopment plan. The site is identified with Commercial Auto (CA) zoning, which supports drive-thru potential for an appropriately configured use.
The property is located on W Gate City Blvd in Greensboro, NC, and sits near the Greensboro Coliseum Complex, a well-known destination in the area. Its corner positioning is designed to support convenient access and storefront presence for customers and visitors.
Given the CA zoning and drive-thru potential, the property may fit a range of roadside-oriented concepts that benefit from on-site vehicle service and straightforward ingress and egress. It is also well-suited for an owner-user looking to acquire a recognizable, accessible site and adapt the existing improvements to their operational needs, subject to applicable approvals.
The property is located on W Gate City Blvd in Greensboro, NC, and sits near the Greensboro Coliseum Complex, a well-known destination in the area. Its corner positioning is designed to support convenient access and storefront presence for customers and visitors.
Given the CA zoning and drive-thru potential, the property may fit a range of roadside-oriented concepts that benefit from on-site vehicle service and straightforward ingress and egress. It is also well-suited for an owner-user looking to acquire a recognizable, accessible site and adapt the existing improvements to their operational needs, subject to applicable approvals.
Key Highlights
- Corner commercial property built in 1968
- Commercial Auto (CA) zoning
- Potential for drive‑thru use
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
$75,148
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
7.71%
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%
$1,502,960
$1.5M
Cap Rate 7%
$1,073,543
$1.1M
Cap Rate 9%
$834,978
$835.0K
Market Conditions
NOI Build-Up for 6,649 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
$119.7K $18.00/SF
− Vacancy
−$12.3K −$1.85/SF
EGI
$107.4K $16.15/SF
− OpEx
−$32.2K −$4.84/SF
NOI
$75.1K $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 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%
$1,502,960
Cap Rate 7%
$1,073,543
Cap Rate 9%
$834,978
Alternative Uses
Best Use
Retail
$1.07M
$939.4K – $1.25M
NOI $75,148 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.11M
$1.84M – $2.46M
NOI $147,538 @ 7.0% cap · market cap 15.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
750
Businesses Nearby
96k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 43%
Sheetz
Shops & Services
34,873 visits/mo
0.3 miles
Wendy's
Dining
16,424 visits/mo
0.4 miles
Circle K
Shops & Services
12,846 visits/mo
0.4 miles
SONIC Drive In
Dining
11,734 visits/mo
0.2 miles
Burger King
Dining
7,871 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in Greensboro, NC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Corner commercial property with strong accessibility and Commercial Auto zoning, including potential for drive-thru use.
Where is this retail space located?
The property is located at 2310 W Gate City Blvd Greensboro, NC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Corner commercial property built in 1968; Commercial Auto (CA) zoning; Potential for drive‑thru use
