Downtown Fisher Park Office
For Sale
$475,000
510 Church Street, Greensboro, NC 27401
Stand-alone office building in downtown Fisher Park for sale.
Property Size2,224 SF
Price / SF$213.58
Days on Market158
Property Features for 510 Church Street
General Information
Standard status
Active
Size
2,224 SF
Property subtype
Commercial
Amenities
City Lot
Listing Agency:
TYLER REDHEAD & MCALISTER REAL ESTATE, LLC
(336) 274-1717
Listed By:
MATTHEW BENFIELD
Source:
Corcoran
Added: Mar 19
Changed: Aug 17
Last Checked: Aug 22 at 7:56AM
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 TYLER REDHEAD & MCALISTER REAL ESTATE, LLC
Investment Insights
Based on property information with market context.
This stand-alone office building is located in downtown Fisher Park. The total area is 2224 square feet. There are 28 parking spots exclusive to the property. The property is conveniently located on the north side of downtown.
Key Highlights
- Stand‑alone building in downtown Fisher Park.
- Dedicated parking: 28 exclusive parking spots.
- Total of 2224 sq ft of office 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
$30,418
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
6.40%
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%
$608,360
$608.4K
Cap Rate 7%
$434,543
$434.5K
Cap Rate 9%
$337,978
$338.0K
Market Conditions
NOI Build-Up for 2,224 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
$44.6K $20.04/SF
− Vacancy
−$4.0K −$1.80/SF
EGI
$40.6K $18.24/SF
− OpEx
−$10.1K −$4.56/SF
NOI
$30.4K $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%
$608,360
Cap Rate 7%
$434,543
Cap Rate 9%
$337,978
Alternative Uses
Best Use
Office B
$434.5K
$380.2K – $507.0K
NOI $30,418 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$705.0K
$616.9K – $822.5K
NOI $49,349 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
554
Businesses Nearby
Explore this area
Business Placement
Demographics for 27401, NC
21,854
Population
9,650
Households
2.3
Avg Household Size
29
Median Age
32%
College-Educated
85%
High-School Grad
5.8 sq mi
ZIP Area
3,768
Density / Sq Mi
$44,524
Median Household Income
$22,542
Median Earnings
$883
Median Rent
$138,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Stand-alone office building in downtown Fisher Park for sale.
Where is this office building located?
The property is located at 510 Church Street Greensboro, NC.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Stand‑alone building in downtown Fisher Park.; Dedicated parking: **28 exclusive parking spots**.; Total of 2224 sq ft of office space.
