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

    2823 Randleman Rd Greensboro, NC 27406

    • Commercial real estate
    • 14.96 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1786331
    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

    • Commercial real estate

    Property Details for 2823 Randleman Rd

    Lot size
    14.96 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 14.96-acre land assemblage in Greensboro, North Carolina, presents a prime opportunity for residential development. Located at 2823 Randleman Road, in Guilford County, zip code 27406, this property is zoned CD-RM-12, permitting the construction of residential units. Approved construction drawings already exist for a 114-townhome development, streamlining the approval process and minimizing pre-construction delays. The site boasts convenient access to major transportation arteries, including I-40, I-73, and I-85, providing seamless connectivity throughout the greater Greensboro Metropolitan Statistical Area (MSA). Families will appreciate the property's proximity to highly-rated schools, situated within a two-mile radius: Vandalia Elementary School, Frazier Elementary School, and Allen Middle School. This location offers a blend of suburban tranquility and urban convenience, making it an ideal location for a thriving residential community. The property's size and zoning make it an attractive investment for developers seeking to capitalize on the growing demand for housing in the Greensboro area. Detailed site plans and zoning information are available upon request. This is a rare opportunity to acquire a fully entitled residential development site in a desirable location.

    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
    -79.801592
    Latitude
    36.019425

    Comparable in this City

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      Portfolio of rental homes with development potential on 2.33 acres.
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      Commercial Land For Sale

      Commercial land available for business purposes.
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    • $2,999,000

      23.96 Acres Development Opportunity

      23.96 acres near I-85 and future Amazon facility.
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    • $350,000
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      Greensboro Commercial Land Opportunity

      Commercial land available in a rapidly developing Greensboro location.
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    Similar Nearby for Sale

    • $695,000

      Investment Package with Development Potential

      Portfolio of rental homes with development potential on 2.33 acres.
      123-138 Eisenhower Ave, Greensboro, NC 27406
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    • $325,000

      Greensboro Triplex with Remodeled Units

      Versatile triplex in Greensboro with remodeled units and income potential.
      3530 Riverside Dr, Greensboro, NC 27406
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    • New
      $325,000
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      Greensboro Triplex: Investment Opportunity

      Versatile triplex with remodeled units, income potential, and lake views.
      3530 Riverside Dr, 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
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    • $2,999,000

      23.96 Acres Development Opportunity

      23.96 acres near I-85 and future Amazon facility.
      231 Ritters Lake Rd, Greensboro, NC 27406
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    • $350,000
      4.12 Acres

      Greensboro Commercial Land Opportunity

      Commercial land available in a rapidly developing Greensboro location.
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    Similar Nearby for Lease

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      Commercial Land in Greensboro, NC

      Located at a signalized intersection near multiple retailers.
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      Greensboro Industrial Land for Lease

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      Greensboro Commercial Land Opportunity

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      Land for Retail or Industrial

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    • $14 SF/Yr
      15,000 SF

      Randleman Road Retail Center

      Greensboro retail space: 1,750-3,500 sq ft available
      2641 Randleman Rd, Greensboro, NC 27406
      View Details
    • $5 SF/Yr
      56,255 SF

      Industrial Space in Interstate Commerce

      56,255 SF industrial space with dock-high and drive-in doors.
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    2823 Randleman 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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