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    1601 Elm-Eugene St Greensboro, NC 27406

    For Sale
    $1,148,171

    High-yield NNN lease, strong tenant.

    Property size:
    2,283 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a fee-simple ownership of a Truist Bank located at 1601 S Elm-Eugene St, Greensboro, NC 27406. The property boasts 2,283 square feet on a 0.56-acre lot, built in 1972 and renovated in 1990. The property is currently operating under a triple-net (NNN) lease with a corporate guarantee, offering investors zero landlord responsibilities. The lease commenced January 1, 2007, and has a remaining term of approximately 5.1 years. The current annual net operating income (NOI) is $80,372, representing a 7.00% cap rate and a price per square foot of $502.92. The lease includes annual rent increases of 1.5% throughout the current term. Five additional five-year renewal options exist, potentially extending the lease term to over 30 years. These renewal options are subject to fair market value increases. This is a rare opportunity to acquire a stable, high-performing retail investment with a long-term, creditworthy tenant. The asking price for this exceptional property is $1,148,171. The property's location in Greensboro, Guilford County, offers excellent visibility and accessibility. This is a turnkey investment with significant long-term potential.

    Property Features for 1601 Elm-Eugene St

    General Information

    Property type
    Individual retail properties
    Square Feet
    2,283 SF
    Lot Size
    24,394 SF

    Building Details

    Year Built/Renovated
    1972/1990

    HighLights

    • Triple‑Net (NNN) lease with approximately 5.5 years remaining.
    • Annual rent increases of 1.5%.
    • Excellent tenant history; occupied since 2007, strong financial commitment.
    • Five (5) five‑year tenant renewal options, extending potential lease term to 30+ years.
    Property Profile Location Intelligence

    Current Use by Public Records

    Banks

    Map

    City
    Greensboro
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.791105
    Latitude
    36.0484281

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    FAQs

    What type of property is this?
    Individual retail property - High-yield NNN lease, strong tenant.
    Where is this individual retail property located?
    The property is located at 1601 Elm-Eugene St Greensboro, NC.
    What is the asking price?
    The asking price for this property is $1,148,171.
    What are key features of this property?
    This property features: Triple-Net (NNN) lease with approximately 5.5 years remaining.; Annual rent increases of 1.5%.; Excellent tenant history; occupied since 2007, strong financial commitment.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1601 Elm-Eugene St Greensboro, NC 27406
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