White Box Office/Medical
For Sale
Contact for pricing
3800 S Holden Rd, Greensboro, NC 27406
White box office/medical building with a flexible layout in a central Greensboro location.
Property Size10,789 SF
Price / SF$120.49
Days on Market132
Property Features for 3800 S Holden Rd
General Information
Standard status
Active
Size
10,789 SF
Property subtype
OFFICE
Listing Agency:
CityPlat
(919) 650-2643
Listed By:
Graham Storey · License #298847
(919) 698-8799
Source:
Moodyscre
Added: May 6
Changed: Sep 10
Last Checked: Sep 13 at 8:40AM
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 CityPlat
Investment Insights
Based on property information with market context.
This office/medical building is offered in a white box condition, with a flexible layout designed to support customization for future users. The property’s configuration is well-suited for buyers looking for a straightforward interior baseline and the ability to tailor the space to office or medical needs.
The building is located in Greensboro in a central position between highways 85, 73, and 29. It is also described as being a short distance from shopping, banks, restaurants, and attractions.
With its total size of 10,789 square feet, the property provides ample indoor space for an office or medical conversion while leaving interior finish-out and layout decisions to the end user or investor.
The building is located in Greensboro in a central position between highways 85, 73, and 29. It is also described as being a short distance from shopping, banks, restaurants, and attractions.
With its total size of 10,789 square feet, the property provides ample indoor space for an office or medical conversion while leaving interior finish-out and layout decisions to the end user or investor.
Key Highlights
- 10,789 SF office/medical building in a Greensboro area location between Highways 85, 73, and 29
- White box condition for an office/medical buildout
- Flexible layout suitable for a range of office and medical uses
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
$118,758
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
9.14%
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%
$2,375,160
$2.4M
Cap Rate 7%
$1,696,543
$1.7M
Cap Rate 9%
$1,319,533
$1.3M
Market Conditions
NOI Build-Up for 10,789 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
$217.5K $20.16/SF
− Vacancy
−$19.6K −$1.81/SF
EGI
$197.9K $18.35/SF
− OpEx
−$79.2K −$7.34/SF
NOI
$118.8K $11.01/SF
Area
Greensboro, NC
Vacancy
9.00%
Lease Rate
$20.16 /SF/Yr
Expense Ratio
40.00%
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%
$2,375,160
Cap Rate 7%
$1,696,543
Cap Rate 9%
$1,319,533
Alternative Uses
Best Use
Office B
$2.11M
$1.84M – $2.46M
NOI $147,564 @ 7.0% cap · market cap 11.35%
Second Best
Healthcare Medical
$1.70M
$1.48M – $1.98M
NOI $118,758 @ 7.0% cap · market cap 9.14%
Theoretical Best
Office A
$3.42M
$2.99M – $3.99M
NOI $239,402 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
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Business Placement
Demographics for 27406, NC
61,597
Population
28,080
Households
2.2
Avg Household Size
38
Median Age
27%
College-Educated
88%
High-School Grad
69.4 sq mi
ZIP Area
888
Density / Sq Mi
$56,748
Median Household Income
$37,095
Median Earnings
$1,103
Median Rent
$191,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - White box office/medical building with a flexible layout in a central Greensboro location.
Where is this office building located?
The property is located at 3800 S Holden Rd Greensboro, NC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 10,789 SF office/medical building in a Greensboro area location between Highways 85, 73, and 29; White box condition for an office/medical buildout; Flexible layout suitable for a range of office and medical uses
