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    123 Elsielee Rd Greensboro, NC 27405
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    123 Elsielee Rd, Greensboro, NC 27405

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    • Commercial land
    For Sale
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    Highway Business Zoned Land For Sale
    Contact for pricing
    2.00 Acres

    Highway Business Zoned Land

    Two-acre commercial land with highway business zoning.

    123 Elsielee Rd, Greensboro, NC 27405
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    Property ID
    US53-0679126
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Proctor Handyman & Remodeling / Hardware & Home Improvement / Interior Design

    Property Details for 123 Elsielee Rd

    Property type
    Commercial land
    Property subtype
    Commercial real estate

    Description

    2 acre land zoned conditional use Highway Business. Excellent self storage location. This seller has the retail center in front of this site and can offer Highway 70 signage. This seller also has additional land next door at 109-115 Flemingfield Road. Alternative secondary access point and land area. As part of this sale and in the asking price, GC seller will demo existing no value housing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Greensboro
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.7118602
    Latitude
    36.0886125

    Comparable in this City

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      Greensboro Commercial Land For Sale

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      Greensboro Retail Opportunity on Hicone

      Retail potential on 0.73+/- acre lot in Greensboro.
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    • $90,000
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      Greensboro Commercial Land For Sale

      Commercial land available in Greensboro, North Carolina.
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      Corner Lot Near Highway

      Vacant corner lot near highway, suitable for commercial development.
      4517 Hicone Rd, Greensboro, NC 27405
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    • $1,600,000
      Pending

      Greensboro Commercial Land For Sale

      10.88 acre commercial land with road frontage in Greensboro.
      3711 Mcconnell Rd, Greensboro, NC 27405
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    Similar Nearby for Sale

    • $1,200,000
      Pending

      Greensboro Land For Sale

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      257 Willowlake Rd, Greensboro, NC 27405
      View Details
    • $112,500
      0.47 Acres

      Greensboro Commercial Land For Sale

      0.47 acre commercial land with highway frontage near I-785.
      5026 Burlington Rd, Greensboro, NC 27405
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    • Contact for pricing

      Commercial Land on Hicone Road

      7.28 +/- acres ideal for commercial development.
      4520 Hicone Rd, Greensboro, NC 27405
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    • $1,279,000

      Greensboro Land with Billboard Income

      Three adjoining lots with income-generating billboard near Highway 29.
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      Land in Growing Greensboro Area

      Land in a rapidly expanding area with great connectivity.
      2101 E Cone Blvd, Greensboro, NC 27405
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      Corner Lot Land For Sale

      0.75 acre corner lot with high visibility.
      5005-5112 Burlington Rd, Greensboro, NC 27405
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    Similar Nearby for Lease

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      Corner Lot Build to Suit

      Prime location near Wendover Avenue and Highway US-29.
      1026 Tucker St, Greensboro, NC 27405
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      Prime Land for Lease

      2.4-acre site suitable for office, medical, or retail.
      2736 N Church St, Greensboro, NC 27405
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      400,000 SF

      Industrial Space with Heavy Power

      400,000 SF industrial space with heavy power for lease.
      1350 16Th St, Greensboro, NC 27405
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      9,600 SF

      9,600 SF Warehouse Available

      Warehouse building featuring 15' ceilings and multiple loading options.
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      4,900 SF

      Greensboro Flex Space For Rent

      5000 SF flex space with office and fenced lot.
      816 Post St, Greensboro, NC 27405
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      Redevelopment Opportunity on 14 Acres

      Prime location for retail, service, or professional uses.
      2714 N Church St, Greensboro, NC 27405
      View Details
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    123 Elsielee Rd
    Greensboro, NC 27405
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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