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

    238 Ritters Lake Rd Greensboro, NC 27406

    • Distribution centers
    • 1,051,540 SF
    • 109.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1493757
    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

    • Amazon Distribution Warehouse / Warehouse

    Property Details for 238 Ritters Lake Rd

    Lot size
    109.00 lot acres
    Property size
    1,051,540 SF
    Property type
    Distribution centers

    Description

    This exceptional Class A warehouse, situated at 238 Ritters Lake Road in Greensboro, North Carolina (zip code 27406), offers an unparalleled opportunity for logistics and distribution businesses. Boasting a substantial 1,051,540 square feet of space, this expansive facility sits on a generous 109-acre lot, providing ample room for expansion and future development. Its strategic location offers easy access to Interstate 85, ensuring seamless transportation and efficient supply chain management. The property is classified as both Industrial and Land, making it highly versatile and suitable for a wide range of industrial uses. The building's Class A designation reflects its high-quality construction, modern amenities, and efficient design. Located within Guilford County, this property benefits from a strong local economy and a skilled workforce. The precise address is 238 Ritters Lake Road, Greensboro, NC 27406. This significant industrial property presents a rare chance to acquire a large-scale, strategically located warehouse in a thriving North Carolina market. The property's size and location make it ideal for companies seeking significant warehouse space with excellent transportation links. This is a prime opportunity for businesses looking to establish or expand their operations in the Greensboro area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensboro
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.79786
    Latitude
    35.990355

    Comparable in this City

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      Greensboro Flex/Industrial Space Available

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    • $800,000
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      Greensboro Industrial Land - 11.53 Acres

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      Greensboro Flex/Industrial Buildings Available

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      Greensboro Industrial Land Opportunity

      Prime 10.49-Acre Development Site
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      Commercial Land For Sale

      Commercial land available for business purposes.
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    Similar Nearby for Sale

    • $3,400,000

      Industrial Package Investment Opportunity

      Two-building industrial package for sale with lease opportunity.
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    • $1,028,125
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      Greensboro Flex/Industrial Space Available

      Flex and industrial buildings available for sale or lease.
      518 Teague St, Greensboro, NC 27406
      View Details
    • $800,000
      11.53 Acres

      Greensboro Industrial Land - 11.53 Acres

      Prime Greensboro development land, I-40/85 access.
      1614 Alamance Church Rd, Greensboro, NC 27406
      View Details
    • $903,125
      7,225 SF

      Greensboro Flex/Industrial Buildings Available

      Flex and industrial buildings available for sale or lease.
      516 Teague St, Greensboro, NC 27406
      View Details
    • $289,331
      4.17 Acres

      Greensboro Industrial Land Opportunity

      Prime 10.49-Acre Development Site
      3029 Glass Rd, Greensboro, NC 27406
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    • $170,000

      Commercial Land For Sale

      Commercial land available for business purposes.
      3527 Rehobeth Church Rd, Greensboro, NC 27406
      View Details

    Similar Nearby for Lease

    • $5 SF/Yr
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      Industrial Space Near I-85/I-40

      Industrial space available for lease near major interstates.
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    • Contact for pricing
      46,333 SF

      Greensboro Warehouse and Distribution Location

      Warehouse and distribution property with excellent access to major transportation.
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      63,200 SF

      Industrial Space Near Interstate Access

      71-acre industrial development with strategic highway access.
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      Proposed Industrial Building with Parking

      Proposed 168,000 SF industrial building with ample parking.
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      2,268 SF

      Greensboro Flex Space For Rent

      Flex property with warehouse space, offices, and dock loading.
      3001-3011 Pacific Ave, Greensboro, NC 27406
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    238 Ritters Lake Rd
    Greensboro, NC 27406
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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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