Building Details

Building Size 13,650 SF

Year Built 2009

Listing Agency: Matthews Real Estate Investment Services | Atlanta

Listed By: Connor Knauer · License #413436 (GA) Show Phone

Source: Matthews

Added: Jul 3 Changed: Oct 13 Last Checked: Oct 19 at 3:16AM

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Investment Insights

Based on property information with market context.

This for-sale drug store retail property is listed under commercial real estate retail property categories and is suitable for buyers seeking a retail-focused asset.

The property is located at 300 E Cornwallis Dr in Greensboro, North Carolina (27408).

Key Highlights

• Drug store retail property for sale at 300 E Cornwallis Dr in Greensboro, NC 27408
• Built in 2009

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$165,295

Cap Rate

2.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,305,900 $3.3M

Cap Rate 7%

$2,361,357 $2.4M

Cap Rate 9%

$1,836,611 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,650 SF

Gross rent

$245.7K $18.00/SF

− Vacancy

−$25.3K −$1.85/SF

EGI

$220.4K $16.15/SF

− OpEx

−$55.1K −$4.04/SF

NOI

$165.3K $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%

$3,305,900

Cap Rate 7%

$2,361,357

Cap Rate 9%

$1,836,611

Alternative Uses

Best Use

Specialty Retail

$2.36M

$2.07M – $2.75M (±1% cap)

NOI $165,295 @ 7.0% cap · market cap 2.80%

Second Best

Retail

$2.20M

$1.93M – $2.57M (±1% cap)

NOI $154,275 @ 7.0% cap · market cap 2.61%

Theoretical Best

Office A

$4.33M

$3.79M – $5.05M (±1% cap)

NOI $302,886 @ 7.0% cap · market cap 5.13%

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

Property Analytics

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Current Use

Walgreens Pharmacy Walgreens Photo (Bike/Boat/Book/etc) Store COVID-19 Drive-Thru Testing ... Medical Laboratory Walgreens Pharmacy Pharmacy Western Union Bank

Suggested Use

Top Pick Building Supply Auto Repair Shop Big Box & Wholesale Store Auto Parts Store HVAC Service Restaurant

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

684

Businesses Nearby

70k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 48% Dining 36% Shops & Services 11% Electronics 3%

Food Lion Grocery Store Groceries

33,418 visits/mo 0.5 miles

Starbucks Dining

17,218 visits/mo 0.4 miles

SUBWAY Dining

4,800 visits/mo 0.4 miles

BP Shops & Services

4,470 visits/mo 0.2 miles

Exxon Shops & Services

3,550 visits/mo 0.4 miles

Demographics for 27408, NC

17,896

Population

8,043

Households

2.2

Avg Household Size

44

Median Age

65%

College-Educated

97%

High-School Grad

7.7 sq mi

ZIP Area

2,324

Density / Sq Mi

$89,524

Median Household Income

$53,080

Median Earnings

$1,139

Median Rent

$331,000

Median Home Value

Market

Vacancy Rate% for Retail in Greensboro, NC

6% 2020

6.5% 2021

4.6% 2022

4.7% 2023

4.6% 2024

4% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Drug store - For sale drug store retail property at 300 E Cornwallis Dr in Greensboro, NC 27408.

Where is this drug store located?

The property is located at 300 E Cornwallis Dr Greensboro, NC.

What is the asking price?

The asking price for this property is $5,900,000.

What are key features of this property?

This property features: Drug store retail property for sale at 300 E Cornwallis Dr in Greensboro, NC 27408; Built in 2009