Versatile Industrial Warehouse
For Sale
Contact for pricing
946 S Chapman St, Greensboro, NC 27403
A flexible warehouse for distribution or storage needs, supported by GB zoning for adaptable operating options.
Property Size4,218 SF
Price / SF$196.18
Days on Market355
Property Features for 946 S Chapman St
General Information
Standard status
Active
Size
4,218 SF
Property subtype
RETAIL
Zoning
GB
Listing Agency:
CityPlat
(919) 412-9038
Listed By:
Nikita Zhitov, CCIM, SIOR, ALC
(919) 412-9038
Source:
Moodyscre
Added: Aug 22, 2025
Changed: Aug 8
Last Checked: Aug 10 at 9:03AM
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 CityPlat
Investment Insights
Based on property information with market context.
This versatile 4,218 SF industrial building is set up for warehouse and distribution operations, offering practical space for storage, handling, and day-to-day industrial use. The property is described as suitable for customization, with the added possibility of future expansion to better match evolving operational requirements.
Located in the Greensboro area, the building benefits from a convenient commercial setting for logistics-focused users. The property’s zoning is listed as GB, which is designed to support maximum usage flexibility for appropriate industrial activities.
For buyers seeking an adaptable industrial facility, the combination of warehouse/distribution functionality and GB zoning can be helpful when planning current operations and potential site improvements. If you’re evaluating options for a distribution-oriented use or a storage-based operation that may need to evolve, this property’s size and intended use profile make it a straightforward candidate for further review.
Located in the Greensboro area, the building benefits from a convenient commercial setting for logistics-focused users. The property’s zoning is listed as GB, which is designed to support maximum usage flexibility for appropriate industrial activities.
For buyers seeking an adaptable industrial facility, the combination of warehouse/distribution functionality and GB zoning can be helpful when planning current operations and potential site improvements. If you’re evaluating options for a distribution-oriented use or a storage-based operation that may need to evolve, this property’s size and intended use profile make it a straightforward candidate for further review.
Key Highlights
- 4,218 SF industrial building with space suited for warehouse and distribution operations
- Zoned GB, offering flexibility for adaptable use options
- Strategic Greensboro‑area location for distribution and storage needs
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
$24,239
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
2.93%
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%
$484,780
$484.8K
Cap Rate 7%
$346,271
$346.3K
Cap Rate 9%
$269,322
$269.3K
Market Conditions
NOI Build-Up for 4,218 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
$30.4K $7.20/SF
− Vacancy
−$1.9K −$0.44/SF
EGI
$28.5K $6.76/SF
− OpEx
−$4.3K −$1.01/SF
NOI
$24.2K $5.75/SF
Area
Greensboro, NC
Vacancy
6.10%
Lease Rate
$7.20 /SF/Yr
Expense Ratio
15.00%
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%
$484,780
Cap Rate 7%
$346,271
Cap Rate 9%
$269,322
Alternative Uses
Best Use
Warehouse
$346.3K
$303.0K – $404.0K
NOI $24,239 @ 7.0% cap · market cap 2.93%
Second Best
Industrial
$285.2K
$249.5K – $332.7K
NOI $19,962 @ 7.0% cap · market cap 2.41%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,595 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
757
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27403, NC
23,679
Population
8,671
Households
2.7
Avg Household Size
28
Median Age
48%
College-Educated
88%
High-School Grad
5.8 sq mi
ZIP Area
4,083
Density / Sq Mi
$56,722
Median Household Income
$24,843
Median Earnings
$998
Median Rent
$218,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- University Mini Storage — 1560 W Gate City Blvd, Greensboro, NC 27403
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- Two Men and a Truck Moving and Storage — 2704 Patterson St, Greensboro, NC 27407
- Handled With Care Moving & Storage — 1760 W Lee St, Greensboro, NC 27403
Frequently Asked Questions
What type of property is this?
Warehouse - A flexible warehouse for distribution or storage needs, supported by GB zoning for adaptable operating options.
Where is this warehouse located?
The property is located at 946 S Chapman St Greensboro, NC.
What is the asking price?
The asking price for this property is $827,500.
What are key features of this property?
This property features: 4,218 SF industrial building with space suited for warehouse and distribution operations; Zoned GB, offering flexibility for adaptable use options; Strategic Greensboro‑area location for distribution and storage needs
