Multi-Office Professional
For Sale
Contact for pricing
Pending
3810 N Elm St, Greensboro, NC 27455
Office suite includes five dedicated offices, reception, conference room, break room, and two bathrooms.
Property Size2,013 SF
Days on Market92
Property Features for 3810 N Elm St
General Information
Standard status
Pending
Size
2,013 SF
Property subtype
OFFICE
Amenities
5 dedicated offices
break room
conference room
reception area
work room
2 bathrooms
Listing Agency:
Brown Investment Properties
(336) 362-5612
Listed By:
Brian E Burnham · License #NC 236628
(336) 362-5612
Source:
Moodyscre
Added: May 21
Changed: Aug 17
Last Checked: Aug 19 at 7:16AM
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 Brown Investment Properties
Investment Insights
Based on property information with market context.
This office suite in Phase I of Lake Jeanette Office Park is configured for professional use, with five dedicated offices plus a reception area, conference room, break room, and work room. The unit also includes two bathrooms.
The property is located at 3810 N Elm St in Greensboro, North Carolina, within the Lake Jeanette Office Park.
With multiple private offices alongside shared common spaces, the layout supports teams that need both individual work areas and meeting or client-facing space.
The property is located at 3810 N Elm St in Greensboro, North Carolina, within the Lake Jeanette Office Park.
With multiple private offices alongside shared common spaces, the layout supports teams that need both individual work areas and meeting or client-facing space.
Key Highlights
- Office suite in Phase I of Lake Jeanette Office Park
- Includes five dedicated offices
- Reception area plus conference room and work room
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
$27,532
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
7.46%
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%
$550,640
$550.6K
Cap Rate 7%
$393,314
$393.3K
Cap Rate 9%
$305,911
$305.9K
Market Conditions
NOI Build-Up for 2,013 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
$40.3K $20.04/SF
− Vacancy
−$3.6K −$1.80/SF
EGI
$36.7K $18.24/SF
− OpEx
−$9.2K −$4.56/SF
NOI
$27.5K $13.68/SF
Area
Greensboro, NC
Vacancy
9.00%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
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%
$550,640
Cap Rate 7%
$393,314
Cap Rate 9%
$305,911
Alternative Uses
Best Use
Office B
$393.3K
$344.2K – $458.9K
NOI $27,532 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$638.1K
$558.3K – $744.5K
NOI $44,667 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
360
Businesses Nearby
Explore this area
Business Placement
Demographics for 27455, NC
30,913
Population
12,822
Households
2.4
Avg Household Size
43
Median Age
54%
College-Educated
98%
High-School Grad
28.7 sq mi
ZIP Area
1,077
Density / Sq Mi
$93,841
Median Household Income
$49,048
Median Earnings
$1,231
Median Rent
$324,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite includes five dedicated offices, reception, conference room, break room, and two bathrooms.
Where is this office units located?
The property is located at 3810 N Elm St Greensboro, NC.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Office suite in Phase I of Lake Jeanette Office Park; Includes five dedicated offices; Reception area plus conference room and work room
