Flex Space with Drive-In
New
For Sale
$500,000
4505 Sellars Avenue, Greensboro, NC 27407
Heated and cooled warehouse area pairs with private offices, conference space, and modern finishes.
Property Size7,000 SF
Lot Size1.06 Acres
Price / SF$71.43
Days on Market4
Property Features for 4505 Sellars Avenue
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
10
Lot size
1.06 Acres
Property subtype
Warehouse/Office
Site & Location
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Drive-In Doors
2
Three-Phase Power
Yes
Conditioned Warehouse
Yes
Amenities
Private Offices
Conference Room
Full Bathrooms
Modern Office Finishes
Features: Cleared, Size: 1.06, Size Units: Acres
Description: Metal
Flooring: Concrete
Details: Central Air
Heating: Forced Air
Days on Market: 0, Listing Price: 500000, Status: Active
Parking Total: 10
Description: Interior Entry
Building Area: 7000, Construction Materials: Metal, Stories: 2, Year Built: 1985, Construction Type: Site Built
City: Greensboro, State: NC, Zip: 27407, County: Guilford
Zoning: LI
Sewer: Public Sewer, Water Source: City, Utilities: Electricity Connected
Bid Information: Starting Bid, Bid Type: Auction/Reserve, Auction Y/N: 1
Building Details
Building Size
7,000 SF
Year Built
1985
Listing Agency:
Southern Charm Realty Inc
(704) 924-1954
Listed By:
Lisa Revis
(704) 924-1954
Source:
Blackstreaminternational
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 15 at 2:27AM
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 Southern Charm Realty Inc
Investment Insights
Based on property information with market context.
This 7,000-square-foot flex property combines a 5,000-square-foot office building with a 2,000-square-foot basement on a 1.06-acre site. The interior includes heated and cooled warehouse space, multiple private offices, a large conference room, full bathrooms, and modern office finishes. Two 10' x 10' drive-in doors support warehouse access, while 3-phase power and a compressor room add functional infrastructure.
The property includes 10 parking spaces and a large paved outdoor area for storage and equipment. Built in 1985, the building offers a blend of office, warehouse, and support areas within a single flex-oriented property.
The property includes 10 parking spaces and a large paved outdoor area for storage and equipment. Built in 1985, the building offers a blend of office, warehouse, and support areas within a single flex-oriented property.
Key Highlights
- 7,000 square feet total, including a 5,000‑square‑foot office building and 2,000‑square‑foot basement
- 1.06‑acre site with 10 parking spaces
- Heated and cooled warehouse space with two 10' x 10' drive‑in doors
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
$40,227
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
8.05%
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%
$804,540
$804.5K
Cap Rate 7%
$574,671
$574.7K
Cap Rate 9%
$446,967
$447.0K
Market Conditions
NOI Build-Up for 7,000 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
$50.4K $7.20/SF
− Vacancy
−$3.1K −$0.44/SF
EGI
$47.3K $6.76/SF
− OpEx
−$7.1K −$1.01/SF
NOI
$40.2K $5.75/SF
Area
Greensboro, NC
Vacancy
6.10%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
15.00%
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%
$804,540
Cap Rate 7%
$574,671
Cap Rate 9%
$446,967
Alternative Uses
Best Use
Office B
$1.37M
$1.20M – $1.60M
NOI $95,741 @ 7.0% cap · market cap 19.15%
Second Best
Warehouse
$574.7K
$502.8K – $670.5K
NOI $40,227 @ 7.0% cap · market cap 8.05%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,326 @ 7.0% cap · market cap 31.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27407, NC
49,803
Population
23,861
Households
2.1
Avg Household Size
35
Median Age
35%
College-Educated
88%
High-School Grad
29.4 sq mi
ZIP Area
1,694
Density / Sq Mi
$59,308
Median Household Income
$35,819
Median Earnings
$1,113
Median Rent
$203,800
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?
Flex space - Heated and cooled warehouse area pairs with private offices, conference space, and modern finishes.
Where is this flex space located?
The property is located at 4505 Sellars Avenue Greensboro, NC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 7,000 square feet total, including a 5,000‑square‑foot office building and 2,000‑square‑foot basement; 1.06‑acre site with 10 parking spaces; Heated and cooled warehouse space with two 10' x 10' drive‑in doors
