Two-Story Mixed-Use
301-303 Martin Luther King Jr Dr Greensboro, NC 27406
For Sale
Contact for pricing
Vacant two-story mixed-use property with a built-out ground-floor restaurant layout and a second-floor office space.
Property Size7,378 SF
Price / SF$189.75
Days on Market90
Property Features for 301-303 Martin Luther King Jr Dr
General Information
Standard status
Active
Size
7,378 SF
Property subtype
RETAIL
Listing Agency:
RE/MAX Realty Consultants
(336) 686-0099
Listed By:
Mark Mann · License #201593
(336) 686-0099
Source:
Moodyscre
Added: May 1
Changed: Jul 28
Last Checked: Jul 29 at 12:37PM
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 RE/MAX Realty Consultants
Investment Insights
Based on property information with market context.
Available for immediate occupancy, this iconic two-story mixed-use commercial building spans 7,378 square feet and is currently vacant. The main level is fully built out for restaurant or retail use, featuring an established dining layout with seating capacity of 85+/- and a 3,479 square-foot floor plan, along with service areas and an outdoor area. The second level provides flexible office space suited for professional services or owner-user occupancy.
Located in Greensboro’s historic Southside neighborhood, the property sits steps from the Downtown Greenway and is near the International Civil Rights Center & Museum, Bennett College, and the Greensboro History Museum. The building is noted for strong community recognition tied to its prior operation as Dame’s Chicken & Waffles.
The configuration—restaurant/retail on the ground floor and office on the upper level—creates a straightforward mixed-use setup for operators and investors seeking an end-to-end tenancy plan within one building.
Located in Greensboro’s historic Southside neighborhood, the property sits steps from the Downtown Greenway and is near the International Civil Rights Center & Museum, Bennett College, and the Greensboro History Museum. The building is noted for strong community recognition tied to its prior operation as Dame’s Chicken & Waffles.
The configuration—restaurant/retail on the ground floor and office on the upper level—creates a straightforward mixed-use setup for operators and investors seeking an end-to-end tenancy plan within one building.
Key Highlights
- Two‑story mixed‑use building totaling 7,378 SF with ground‑floor restaurant/retail and second‑floor office space
- Ground floor is built out for food service/restaurant use with dining layout and 85+/- seating capacity
- Ground‑floor floor plan is 3,479 SF with service areas and an outdoor area for al fresco dining
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $147.9k | $20.04 |
| − Vacancy | −$13.3k | −$1.80 |
| EGI | $134.5k | $18.24 |
| − OpEx | −$33.6k | −$4.56 |
| NOI | $100.9k | $13.68 |
7,378 SF · lease $20.04/SF/yr · vacancy 9.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.44M
$1.26M – $1.68M
NOI $100,911 @ 7.0% cap · market cap 7.21%
Second Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,344 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$2.34M
$2.05M – $2.73M
NOI $163,714 @ 7.0% cap · market cap 11.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Vacant two-story mixed-use property with a built-out ground-floor restaurant layout and a second-floor office space.
Where is this conventional restaurant located?
The property is located at 301-303 Martin Luther King Jr Dr Greensboro, NC.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Two‑story mixed‑use building totaling 7,378 SF with ground‑floor restaurant/retail and second‑floor office space; Ground floor is built out for food service/restaurant use with dining layout and 85+/- seating capacity; Ground‑floor floor plan is 3,479 SF with service areas and an outdoor area for al fresco dining
