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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2203 Spg Gdn St Greensboro, NC 27403-2175

    • Apartment buildings
    • 29,186 SF
    • 2.62 lot acres
    OFF-MARKET
    Last Sale
    Oct 22, 2021
    Value Estimations
    $3,705,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1572956
    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.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2203 Spg Gdn St

    Year built
    1925
    Lot size
    2.62 lot acres
    Property size
    29,186 SF
    Zone code
    CU-GO-H
    Property type
    Apartment buildings
    APN
    16699
    APU
    16699

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,085,000
      6.5%
      $3,770,000
      7%
      $3,500,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,560,000
      Market price range: $1.86M - $6.87M

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensboro
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.8296
    Latitude
    36.0634
    CBSA code
    24660
    CBSA name
    GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $35,765
    $513,800
    $2,825,700
    $3,339,500
    -
    $513,800
    $2,825,700
    $3,339,500

    Comparable in this City

    • Value Estimation
      $1,920,000
      8,280 SF

      600 Chapman St

      APARTMENT HOUSE (5+ UNITS) • 8,280 SF
      600 Chapman St, Greensboro, NC 27403-2499
      View Details
    • Value Estimation
      $5,925,000
      30,270 SF

      501 University Dr

      APARTMENT HOUSE (5+ UNITS) • 30,270 SF
      501 University Dr, Greensboro, NC 27403
      View Details
    • Value Estimation
      $780,000
      5,462 SF

      211 Mciver St

      APARTMENT HOUSE (5+ UNITS) • 5,462 SF
      211 Mciver St, Greensboro, NC 27403-2616
      View Details
    • Value Estimation
      $4,950,000
      13,656 SF

      906 Howard St

      APARTMENT HOUSE (5+ UNITS) • 13,656 SF
      906 Howard St, Greensboro, NC 27403-2873
      View Details
    • Value Estimation
      $1,695,000
      12,912 SF

      1107 Fuller St

      APARTMENT HOUSE (5+ UNITS) • 12,912 SF
      1107 Fuller St, Greensboro, NC 27403-2759
      View Details
    • Value Estimation by Request
      4,032 SF

      1006 Haywood St

      APARTMENT HOUSE (5+ UNITS) • 4,032 SF
      1006 Haywood St, Greensboro, NC 27403-3070
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Renovated Multifamily Property with Amenities

      Multifamily property featuring bed-to-bath parity and renovated amenities.
      608 Granite St, Greensboro, NC 27403
      View Details
    • New
      $1,390,000
      Pending

      Greensboro Multifamily Property Near UNCG

      12-unit property near UNC Greensboro with income upside.
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    • New
      $315,000

      Greensboro Duplex: Investment Opportunity

      Duplex near downtown Greensboro with long-term renter, great investment.
      1312 Grove St, Greensboro, NC 27403
      View Details
    • $450,000

      Greensboro Office Building For Sale

      Office building available for purchase in Greensboro, North Carolina.
      1007 Warren St, Greensboro, NC 27403
      View Details
    • $140,000
      1.00 Acre

      Glenwood Acre Residential Lots

      Three residential lots totaling one acre in Greensboro's Glenwood area.
      1115 Silver Ave, Greensboro, NC 27403
      View Details
    • $767,676
      4,218 SF

      Greensboro Auto Shop Investment

      High-Cap Rate Auto Shop, Greensboro, NC
      946 Chapman St, Greensboro, NC 27403
      View Details

    Similar Nearby for Lease

    • $1,195 /Mo

      Greensboro Condo with Hardwood Floors

      2-bedroom, 1-bath condo featuring hardwood floors and modern amenities.
      1815 Mimosa Dr, Greensboro, NC 27403
      View Details
    • $15 SF/Yr
      1,024 SF

      Class B Office Space

      Office space for rent in the Four Seasons area.
      2275 Vanstory St, Greensboro, NC 27403
      View Details
    • $16 SF/Yr
      47,600 SF

      High Point Road Plaza: Greensboro Office Space

      Prime Greensboro office suites, newly renovated.
      2703 Gate City Blvd, Greensboro, NC 27403
      View Details
    • Contact for pricing

      Retail Space Near Major Landmarks

      Retail property in Greensboro, close to major attractions and I-40.
      Greensboro, NC 27403
      View Details
    • Contact for pricing

      Prime Development Site Available

      Land available for ground lease or build-to-suit.
      2223 Vanstory St, Greensboro, NC 27403
      View Details
    • Contact for pricing
      30,000 SF

      Prime Office Development Opportunity

      8-acre site for Class A office space near hospital.
      3507 W Market St, Greensboro, NC 27403
      View Details
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    2203 Spg Gdn St
    Greensboro, NC 27403-2175
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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.

    More about this property
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