Multifamily Income
For Sale
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904 Lowdermilk Street, Greensboro, NC 27401
For-sale multifamily income property at 904 Lowdermilk Street in Greensboro, NC, totaling 22,500 square feet.
Property Size22,500 SF
Price / SF$133.11
Days on Market47
Property Features for 904 Lowdermilk Street
General Information
Standard status
Active
Size
22,500 SF
Property subtype
Multifamily
Building Details
Year Built
1966
Year Renovated
2024
Units
30
Listing Agency:
APARTMENT CORE
Listed By:
Mike Siciliano · License #NC
Source:
Crexi
Added: Jul 7
Changed: Aug 21
Last Checked: Aug 20 at 9:12PM
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 APARTMENT CORE
Investment Insights
Based on property information with market context.
This for-sale multifamily income property is located at 904 Lowdermilk Street in Greensboro, North Carolina. The offering totals 22,500 square feet and is listed under “multifamily” and “residential income” property categories.
Additional information beyond the listing’s summary was not provided in the available remarks. Interested parties should review the detailed materials for full underwriting information and any property-specific features or current configuration not captured here.
Additional information beyond the listing’s summary was not provided in the available remarks. Interested parties should review the detailed materials for full underwriting information and any property-specific features or current configuration not captured here.
Key Highlights
- Multifamily income property for sale at 904 Lowdermilk Street in Greensboro, NC
- Total building size is 22,500 SF
- Year built: 1966
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
$188,847
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
6.31%
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%
$3,776,940
$3.8M
Cap Rate 7%
$2,697,814
$2.7M
Cap Rate 9%
$2,098,300
$2.1M
Market Conditions
NOI Build-Up for 22,500 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
$364.5K $16.20/SF
− Vacancy
−$21.1K −$0.94/SF
EGI
$343.4K $15.26/SF
− OpEx
−$154.5K −$6.87/SF
NOI
$188.8K $8.39/SF
Area
Greensboro, NC
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$3,776,940
Cap Rate 7%
$2,697,814
Cap Rate 9%
$2,098,300
Alternative Uses
Best Use
Apartment 5plus
$2.70M
$2.36M – $3.15M
NOI $188,847 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.13M
$6.24M – $8.32M
NOI $499,262 @ 7.0% cap · market cap 16.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
185
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 Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - For-sale multifamily income property at 904 Lowdermilk Street in Greensboro, NC, totaling 22,500 square feet.
Where is this multifamily property located?
The property is located at 904 Lowdermilk Street Greensboro, NC.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Multifamily income property for sale at 904 Lowdermilk Street in Greensboro, NC; Total building size is 22,500 SF; Year built: 1966
