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

    2626 Merritt Dr Greensboro, NC 27407-5999

    • Residential income homes
    • 2,626 SF
    • 5.59 lot acres
    OFF-MARKET
    Value Estimations
    $570,000
    Show details
    Cap Rate Potential
    7.4%
    Residential income homes
    Location Intelligence
    Property ID
    US53-1576979
    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

    • Residential income homes

    Property Details for 2626 Merritt Dr

    Year built
    1978
    Lot size
    5.59 lot acres
    Property size
    2,626 SF
    Zone code
    RM-12
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    53053
    APU
    53053

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $400,000
      6.5%
      $370,000
      7%
      $340,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensboro
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.8631
    Latitude
    36.0317
    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
    $0.00
    $503,100
    $4,566,300
    $5,069,400
    -
    $503,100
    $4,566,300
    $5,069,400

    Comparable in this City

    • Value Estimation
      $17,870,000
      5,502 SF

      2432 Holden Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,502 SF
      2432 Holden Rd, Greensboro, NC 27407-6869
      View Details
    • Value Estimation by Request
      3,654 SF

      1011 Barton St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,654 SF
      1011 Barton St, Greensboro, NC 27407-2366
      View Details
    • Value Estimation by Request
      2,688 SF

      1920 Peale Ter

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,688 SF
      1920 Peale Ter, Greensboro, NC 27407-4358
      View Details
    • Value Estimation
      $540,000
      3,000 SF

      3940 Overland Hts

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,000 SF
      3940 Overland Hts, Greensboro, NC 27407-4762
      View Details
    • Value Estimation
      $680,000
      2,547 SF

      2510 Merritt Dr, Unit 2512

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,547 SF
      2510 Merritt Dr, Greensboro, NC 27407-6181
      View Details
    • Value Estimation by Request
      4,030 SF

      516 Coapman St

      APARTMENT HOUSE (UNDER 5 UNITS) • 4,030 SF
      516 Coapman St, Greensboro, NC 27407-1872
      View Details

    Similar Nearby for Sale

    • $1,590,000
      1.22 Acres

      Greensboro Apartment Investment Opportunity

      15-unit apartment building in a convenient Greensboro location.
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    • Contact for pricing
      1.43 Acres

      Greensboro Residential Land - 1.43 Acres

      Vacant lot, R3 zoning, great potential.
      12Yy Bellows Ct, Greensboro, NC 27407
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    • $225,000
      0.45 Acres

      Greensboro Residential Land - $225K

      0.45-acre lot, rental house included.
      1926 Cedar Fork Dr, Greensboro, NC 27407
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    • $750,000
      2.40 Acres

      Greensboro Commercial Land - $750K

      Prime 2.4-acre commercial lot, ideal for development.
      4640 Market St, Greensboro, NC 27407
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    • $65,000

      Residential Land & Home Lots

      Multiple residential lots for sale as a package.
      2907 Norwood Dr, Greensboro, NC 27407
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    • $89,900

      Multiple Lots for Sale

      Multiple parcels of land for sale together in Greensboro.
      2907 Zz Norwood Dr, Greensboro, NC 27407
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    Similar Nearby for Lease

    • Contact for pricing
      171,711 SF

      Wendover Village Retail Center

      Greensboro Power Center: 1,300 SF Available
      4215 Wendover Ave, Greensboro, NC 27407
      View Details
    • $7 SF/Yr
      6,654 SF

      Office Space on West Wendover

      Centrally located office space with flex and showroom opportunities.
      2-22 Oak Branch Dr, Greensboro, NC 27407
      View Details
    • Contact for pricing

      Retail Space in Bridford Parkway

      Retail property with established co-tenants and adjoining businesses.
      1312 Bridford Pkwy, Greensboro, NC 27407
      View Details
    • $22 SF/Yr
      4,200 SF

      Former Bank Branch with Drive-Thru

      Office space with drive-thru, suitable for financial institutions.
      5605 Hilltop Rd, Greensboro, NC 27407
      View Details
    • $15 SF/Yr
      140,000 SF

      Former Macy's Prime Retail Space

      Flexible leasing opportunity in a high-traffic retail corridor.
      5410 Hornaday Rd, Greensboro, NC 27407
      View Details
    • $19 SF/Yr
      31,988 SF

      Class A Office in Greensboro

      Premier office building in Grandover Corporate Park available for lease.
      4510 Weybridge Ln, Greensboro, NC 27407
      View Details
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    2626 Merritt Dr
    Greensboro, NC 27407-5999
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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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