Turnkey Neighborhood Bar and
For Sale
Contact for pricing
708 W Market Street, Greensboro, NC 27401
Established neighborhood bar fully gutted and renovated in 2024, offered turnkey for an operator with a liquor license.
Property Size2,651 SF
Price / SF$299.89
Days on Market87
Property Features for 708 W Market Street
General Information
Standard status
Active
Size
2,651 SF
Property subtype
Retail
Building Details
Year Renovated
2024
Listing Agency:
NAI Piedmont Triad
Listed By:
John Purdie · License #NC 134484
Source:
Crexi
Added: Jun 9
Changed: Aug 28
Last Checked: Aug 30 at 6:15PM
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 NAI Piedmont Triad
Investment Insights
Based on property information with market context.
This established, operating neighborhood bar is being offered turnkey. The space was fully gutted and renovated in August 2024, creating an updated interior ready for immediate operation. The property is positioned for buyers or operators who already have a liquor license, as noted in the remarks, and it is presented as turn-key as it gets.
The bar is located on the newly completed final leg of the downtown Greenway, and the remarks cite a long operating history for bars at this location dating back 40 years. The combination of an operating concept and recent interior renovation is intended to support continuity for the next owner.
For a qualified buyer, this format can be an efficient path to ownership: an active neighborhood bar concept with a recently renovated interior and a turnkey setup. Prospective purchasers should plan to bring or transfer the necessary liquor license to meet the operator requirements described in the listing.
The bar is located on the newly completed final leg of the downtown Greenway, and the remarks cite a long operating history for bars at this location dating back 40 years. The combination of an operating concept and recent interior renovation is intended to support continuity for the next owner.
For a qualified buyer, this format can be an efficient path to ownership: an active neighborhood bar concept with a recently renovated interior and a turnkey setup. Prospective purchasers should plan to bring or transfer the necessary liquor license to meet the operator requirements described in the listing.
Key Highlights
- Established and operating neighborhood bar on the newly completed final leg of the downtown Greenway
- Fully gutted and renovated in August 2024
- Turnkey setup for an operator with a liquor license
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
$32,102
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
4.04%
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%
$642,040
$642.0K
Cap Rate 7%
$458,600
$458.6K
Cap Rate 9%
$356,689
$356.7K
Market Conditions
NOI Build-Up for 2,651 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
$47.7K $18.00/SF
− Vacancy
−$4.9K −$1.85/SF
EGI
$42.8K $16.15/SF
− OpEx
−$10.7K −$4.04/SF
NOI
$32.1K $12.11/SF
Area
Greensboro, NC
Vacancy
10.30%
Lease Rate
$18.00 /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%
$642,040
Cap Rate 7%
$458,600
Cap Rate 9%
$356,689
Alternative Uses
Best Use
Specialty Retail
$458.6K
$401.3K – $535.0K
NOI $32,102 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$840.3K
$735.3K – $980.4K
NOI $58,824 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,399
Businesses Nearby
37k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 28%
Hotels & Casinos 19%
Starbucks
Dining
19,427 visits/mo
0.1 miles
State Employees Credit Union
Shops & Services
8,373 visits/mo
0.4 miles
Hampton Inn & Suites
Hotels & Casinos
4,444 visits/mo
0.4 miles
Hyatt Place Greensboro / Downtown
Hotels & Casinos
2,602 visits/mo
0.3 miles
Firestone Complete Auto Care
Shops & Services
1,728 visits/mo
0.0 miles
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 Retail in Greensboro, NC
Questions? Ask Rey
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- Dram & Draught — 300 W Gate City Blvd, Greensboro, NC 27406
- Greensboro Distilling Company — 115 W Lewis St, Greensboro, NC 27406
Frequently Asked Questions
What type of property is this?
Bar & Pub - Established neighborhood bar fully gutted and renovated in 2024, offered turnkey for an operator with a liquor license.
Where is this bar & pub located?
The property is located at 708 W Market Street Greensboro, NC.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Established and operating neighborhood bar on the newly completed final leg of the downtown Greenway; Fully gutted and renovated in August 2024; Turnkey setup for an operator with a liquor license
