Spa & Wellness Commercial
For Sale
$195,000
500 Cornwallis Dr Unit A2-9, Greensboro, NC 27405
Commercial Medium zoning supports a flexible storefront setting for a spa or wellness-oriented business.
Property Size1,182 SF
Price / SF$164.97
Days on Market15
Property Features for 500 Cornwallis Dr Unit A2-9
General Information
Standard status
Active
Size
1,182 SF
Property subtype
Commercial
Zoning
Commercial Medium
Building Details
Year Built
1985
Listing Agency:
Price REALTORS - Archdale
(336) 689-4559
Listed By:
Angela Brown Cranford
Source:
Searchhomesinthetriad
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 26 at 9:26AM
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 Price REALTORS - Archdale
Investment Insights
Based on property information with market context.
This commercial property is identified as a spa and wellness asset within a storefront setting. It carries Commercial Medium zoning and is located at 500 Cornwallis Dr Unit A2-9 in Greensboro, North Carolina. The building dates to 1985, providing an established commercial space for an owner-user or buyer evaluating a business location.
The property information also identifies optional structured data cabling support with an acceptable offer. That work may include CAT6 network cabling, data outlets, Wi-Fi access point cabling, and related low-voltage infrastructure customized to the buyer’s business needs. Buyer to verify permitted uses and zoning requirements.
The property information also identifies optional structured data cabling support with an acceptable offer. That work may include CAT6 network cabling, data outlets, Wi-Fi access point cabling, and related low-voltage infrastructure customized to the buyer’s business needs. Buyer to verify permitted uses and zoning requirements.
Key Highlights
- Commercial Medium zoning
- Spa & wellness property in a storefront setting
- 500 Cornwallis Dr Unit A2‑9, Greensboro, NC 27405
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
$13,359
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
6.85%
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%
$267,180
$267.2K
Cap Rate 7%
$190,843
$190.8K
Cap Rate 9%
$148,433
$148.4K
Market Conditions
NOI Build-Up for 1,182 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
$21.3K $18.00/SF
− Vacancy
−$2.2K −$1.85/SF
EGI
$19.1K $16.15/SF
− OpEx
−$5.7K −$4.84/SF
NOI
$13.4K $11.30/SF
Area
Greensboro, NC
Vacancy
10.30%
Lease Rate
$18.00 /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%
$267,180
Cap Rate 7%
$190,843
Cap Rate 9%
$148,433
Alternative Uses
Best Use
Retail
$190.8K
$167.0K – $222.7K
NOI $13,359 @ 7.0% cap · market cap 6.85%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$374.7K
$327.9K – $437.1K
NOI $26,228 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,060
Businesses Nearby
92k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 36%
Shops & Services 31%
Dining 28%
Electronics 2%
Food Lion Grocery Store
Groceries
33,418 visits/mo
0.1 miles
Starbucks
Dining
17,218 visits/mo
0.1 miles
7-Eleven
Shops & Services
17,156 visits/mo
0.0 miles
SUBWAY
Dining
4,800 visits/mo
0.1 miles
BP
Shops & Services
4,470 visits/mo
0.4 miles
Demographics for 27405, NC
51,506
Population
21,762
Households
2.4
Avg Household Size
34
Median Age
23%
College-Educated
84%
High-School Grad
31.4 sq mi
ZIP Area
1,640
Density / Sq Mi
$46,498
Median Household Income
$31,677
Median Earnings
$1,002
Median Rent
$150,600
Median Home Value
Market
Vacancy Rate% for Retail in Greensboro, NC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Headache Wellness Center — 1414 Yanceyville St, Greensboro, NC 27405
- Hirsch Wellness Network — 1250 Revolution Mill Dr #130, Greensboro, NC 27405
- Garner Pelvic Health — 1175-L Revolution Mill Dr #34, Greensboro, NC 27405
- Seahorse Salon, Spa, And Salt Room — 301 State St UNIT G, Greensboro, NC 27408
- Edward M. Harrington, DC — 500 e cornwallis dr unit h, greensboro, nc 27405
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Commercial Medium zoning supports a flexible storefront setting for a spa or wellness-oriented business.
Where is this spa & wellness property located?
The property is located at 500 Cornwallis Dr Unit A2-9 Greensboro, NC.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Commercial Medium zoning; Spa & wellness property in a storefront setting; 500 Cornwallis Dr Unit A2‑9, Greensboro, NC 27405
