Commercial Land with
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322 Greenoak Drive, Archdale, NC 27263
Commercial parcel with an existing shop, drive-in access, municipal utilities, and automotive-oriented improvements.
Property Size2,950 SF
Price / SF$81.36
Days on Market11
Property Features for 322 Greenoak Drive
General Information
Standard status
Active
Size
2,950 SF
Property subtype
Land
Investment Type
Owner/User
Building Details
Buildings
1
Listing Agency:
Oakdale Commercial Properties
Listed By:
Thomas Jarrell · License #NC 324596
Source:
Crexi
Added: Aug 21
Changed: Aug 31
Last Checked: Aug 31 at 8:24AM
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 Oakdale Commercial Properties
Investment Insights
Based on property information with market context.
This commercial land offering includes a 2,950-square-foot shop building with drive-in access, open work space, natural light, and an exterior automotive lift. The existing improvements convey with the land, providing an established physical setup for commercial or automotive-related operations.
Located on Greenoak Drive in Archdale, North Carolina, the property is served by city water and sewer. The combination of usable land, an existing shop structure, and functional access supports immediate use while retaining flexibility for future repositioning.
Located on Greenoak Drive in Archdale, North Carolina, the property is served by city water and sewer. The combination of usable land, an existing shop structure, and functional access supports immediate use while retaining flexibility for future repositioning.
Key Highlights
- 0.65‑acre commercial parcel on Greenoak Drive
- 2,950‑square‑foot shop building included with the land
- Drive‑in access and open work space
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
$13,496
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
5.62%
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%
$269,920
$269.9K
Cap Rate 7%
$192,800
$192.8K
Cap Rate 9%
$149,956
$150.0K
Market Conditions
NOI Build-Up for 2,950 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
$20.5K $6.96/SF
− Vacancy
−$1.3K −$0.42/SF
EGI
$19.3K $6.54/SF
− OpEx
−$5.8K −$1.96/SF
NOI
$13.5K $4.57/SF
Area
Guilford County, NC
Vacancy
6.10%
Lease Rate
$6.96 /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%
$269,920
Cap Rate 7%
$192,800
Cap Rate 9%
$149,956
Alternative Uses
Best Use
Retail
$384.9K
$336.8K – $449.0K
NOI $26,942 @ 7.0% cap · market cap 11.23%
Second Best
Industrial
$192.8K
$168.7K – $224.9K
NOI $13,496 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$591.8K
$517.8K – $690.4K
NOI $41,426 @ 7.0% cap · market cap 17.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
39k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 84%
Apparel 16%
Circle K
Shops & Services
10,067 visits/mo
0.4 miles
BP
Shops & Services
8,759 visits/mo
0.4 miles
Wells Fargo
Shops & Services
7,288 visits/mo
0.5 miles
Goodwill
Apparel
6,442 visits/mo
0.4 miles
PNC Bank
Shops & Services
3,652 visits/mo
0.4 miles
Demographics for 27263, NC
21,613
Population
8,938
Households
2.4
Avg Household Size
42
Median Age
18%
College-Educated
82%
High-School Grad
39.0 sq mi
ZIP Area
554
Density / Sq Mi
$52,637
Median Household Income
$33,637
Median Earnings
$924
Median Rent
$171,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial parcel with an existing shop, drive-in access, municipal utilities, and automotive-oriented improvements.
Where is this commercial land located?
The property is located at 322 Greenoak Drive Archdale, NC.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 0.65‑acre commercial parcel on Greenoak Drive; 2,950‑square‑foot shop building included with the land; Drive‑in access and open work space
