Warehouse with Dock Doors and
For Sale
Contact for pricing
Pending
2329 Joe Brown Dr, Greensboro, NC 27405
Renovated warehouse with 15-foot clear height, multiple dock doors, and a fenced gravel yard with dock access.
Property Size18,752 SF
Lot Size1.69 Acres
Days on Market71
Property Features for 2329 Joe Brown Dr
General Information
Standard status
Pending
Size
18,752 SF
Lot size
1.69 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
15 ft
Dock-High Doors
5
Drive-In Doors
1
Heavy Power
Yes
Building Details
Year Renovated
2026
Listing Agency:
McGee Commercial Real Estate
Listed By:
Tim McGee
(336) 324-2195
Source:
Moodyscre
Added: Jul 6
Changed: Sep 11
Last Checked: Sep 14 at 6:16AM
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 McGee Commercial Real Estate
Investment Insights
Based on property information with market context.
Warehouse building offering 18,750 square feet with 15-foot clear height and dock access. The property sits on a 1.69 fenced lot and includes a 0.4-acre gravel yard on the east side. Vehicle access features a single front drive-in door measuring 14'H x 24'W and a rear dock door measuring 14'H x 11'W, along with four side dock doors measuring 12'H x 10'W.
The building was recently renovated with a new corrugated metal roof, interior insulation replacement in 2026, and LED lights installed throughout the warehouse. A 480-square-foot conditioned office area is served by a heat pump. Power includes 400 AMP, 240-V, 3-phase service. The area closest to Joe Brown Drive has concrete slab floors, and the original 7,750-square-foot building in the rear has wood flooring over a crawl space. Access is provided from Highway 29 in NE Greensboro.
The building was recently renovated with a new corrugated metal roof, interior insulation replacement in 2026, and LED lights installed throughout the warehouse. A 480-square-foot conditioned office area is served by a heat pump. Power includes 400 AMP, 240-V, 3-phase service. The area closest to Joe Brown Drive has concrete slab floors, and the original 7,750-square-foot building in the rear has wood flooring over a crawl space. Access is provided from Highway 29 in NE Greensboro.
Key Highlights
- 18,750 SF warehouse on a 1.69 fenced lot on Joe Brown Dr in NE Greensboro
- 15’ clear height warehouse with multiple dock doors: four 12’H x 10’W side dock doors plus rear dock access
- Dock‑ready site: 0.4‑acre gravel yard with dock access on the east side
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
$107,762
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
6.74%
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%
$2,155,240
$2.2M
Cap Rate 7%
$1,539,457
$1.5M
Cap Rate 9%
$1,197,356
$1.2M
Market Conditions
NOI Build-Up for 18,752 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
$135.0K $7.20/SF
− Vacancy
−$8.2K −$0.44/SF
EGI
$126.8K $6.76/SF
− OpEx
−$19.0K −$1.01/SF
NOI
$107.8K $5.75/SF
Area
Greensboro, NC
Vacancy
6.10%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
15.00%
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%
$2,155,240
Cap Rate 7%
$1,539,457
Cap Rate 9%
$1,197,356
Alternative Uses
Best Use
Warehouse
$1.54M
$1.35M – $1.80M
NOI $107,762 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.94M
$5.20M – $6.93M
NOI $416,096 @ 7.0% cap · market cap 26.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
15 ft
Clear height
5
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27405, NC
51,506
Population
21,762
Households
2.4
Avg Household Size
34
Median Age
23%
College-Educated
84%
High-School Grad
31.4 sq mi
ZIP Area
1,640
Density / Sq Mi
$46,498
Median Household Income
$31,677
Median Earnings
$1,002
Median Rent
$150,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Warehouse - Renovated warehouse with 15-foot clear height, multiple dock doors, and a fenced gravel yard with dock access.
Where is this warehouse located?
The property is located at 2329 Joe Brown Dr Greensboro, NC.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 18,750 SF warehouse on a 1.69 fenced lot on Joe Brown Dr in NE Greensboro; 15’ clear height warehouse with multiple dock doors: four 12’H x 10’W side dock doors plus rear dock access; Dock‑ready site: 0.4‑acre gravel yard with dock access on the east side
