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    Property profile & analytics

    3200 Friendly Ave Greensboro, NC 27408

    • Retail space
    • 95,282 SF
    • 15.30 lot acres
    For Lease
    View listing
    Value Estimations
    $1,720,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5589881
    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

    • Sears / Department Store
    • Sears Appliance Repair / Air Conditioning Repair Service / Furnace Repair Service
    • Bruce Wagoner Christmas Trees / Christmas Tree Farm
    • Sears Hearing Center / Hearing Aid Store

    Property Details for 3200 Friendly Ave

    Year built
    1973
    Lot size
    15.30 lot acres
    Property size
    95,282 SF
    Zone code
    C
    Property type
    Retail space
    APN
    20432
    APU
    20432

    Description

    This exceptional retail opportunity presents a substantial 147,766 square foot single-tenant building, formerly a Sears, situated on a sprawling 126-acre lot. Located at 3200 W Friendly Ave in Greensboro, North Carolina, zip code 27408, this property offers unparalleled visibility and accessibility within Guilford County. The entire building is currently vacant, presenting a blank canvas for a wide range of retail concepts. The expansive footprint allows for significant customization and adaptation to suit a variety of business needs. The property's substantial lot size provides ample parking and potential for future expansion or development. This is a rare chance to acquire a significant retail space in a prime Greensboro location. The property's size and location make it ideal for large-format retailers, distribution centers, or other businesses requiring substantial space. The address is easily accessible from major roadways, ensuring high traffic volume and excellent visibility. This is a unique opportunity to establish a strong presence in a thriving market. The property is classified as a strip center and is available for lease. The property's size and location offer significant potential for a variety of retail uses. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,720,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensboro
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.8339
    Latitude
    36.0859
    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
    $264,834
    $10,197,000
    $8,679,300
    $18,876,300
    -
    $10,197,000
    $8,679,300
    $18,876,300

    Comparable in this City

    • Value Estimation
      $510,000
      0.56 Acres

      3124 Friendly Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.56 Acres
      3124 Friendly Ave, Greensboro, NC 27408-7823
      View Details
    • Value Estimation
      $480,000
      7,750 SF

      1220 Battleground Ave

      RETAIL STORES (PERSONAL SERVICES) • 7,750 SF
      1220 Battleground Ave, Greensboro, NC 27408-8340
      View Details
    • Value Estimation
      $435,000
      1,455 SF

      2182 Lawndale Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,455 SF
      2182 Lawndale Dr, Greensboro, NC 27408
      View Details
    • Value Estimation
      $310,000
      0.09 Acres

      2128 Lawndale Dr

      RETAIL STORES (PERSONAL SERVICES) • 0.09 Acres
      2128 Lawndale Dr, Greensboro, NC 27408
      View Details
    • Value Estimation
      $1,045,000
      27,510 SF

      2400 Battleground Ave

      RETAIL STORES (PERSONAL SERVICES) • 27,510 SF
      2400 Battleground Ave, Greensboro, NC 27408-4002
      View Details
    • Value Estimation
      $405,000
      2,480 SF

      2146 Lawndale Dr

      RETAIL STORES (PERSONAL SERVICES) • 2,480 SF
      2146 Lawndale Dr, Greensboro, NC 27408-7102
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,000 SF

      Retail Space on Battleground Avenue

      Retail property on a main Greensboro retail corridor.
      2420 Battleground Ave, Greensboro, NC 27408
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    • $1,500,000
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      Battleground Ave Auto Shop - Greensboro

      Prime Greensboro location, vacant, redevelopment ready.
      1212 Battleground Ave, Greensboro, NC 27408
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    • $395,000

      Office Zoned Land For Sale

      Two combined lots totaling approximately 0.35 acres, zoned "O" Office.
      2504-2506 Oakcrest Ave, Greensboro, NC 27408
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    • $850,000
      3.85 Acres

      Land with Development Potential

      3.85 acres with frontage near major retailers and transit.
      1705 Quail Dr, Greensboro, NC 27408
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      3.99 Acres

      Greensboro Land: 3.99 Acres

      Prime Greensboro location, commercial/residential potential.
      1705 Quail Dr, Greensboro, NC 27408
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    Similar Nearby for Lease

    • Contact for pricing
      1,362 SF

      Retail Space Available For Lease

      Retail space available for lease in Greensboro, North Carolina.
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      Retail Space in Greensboro Center

      Retail spaces available in Greensboro neighborhood shopping center.
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      6,774 SF

      Greensboro Warehouse Space for Rent

      6,774 SF warehouse space suitable for recreational concepts.
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      12,000 SF

      Retail Space in Greensboro, NC

      Retail space available in Lawndale Crossing shopping center.
      2600 Lawndale Dr, Greensboro, NC 27408
      View Details
    • $3,850 /Mo
      1,344 SF

      Battleground Avenue Commercial Building For Rent

      Standalone 1344 SF building on high-visibility Battleground Avenue.
      2916-2918 Battleground Ave, Greensboro, NC 27408
      View Details
    • Contact for pricing
      1,367,802 SF

      Greensboro Retail & Office Space

      Prime Greensboro location, multiple spaces available.
      3110 Kathleen Ave, Greensboro, NC 27408
      View Details
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    Greensboro, NC 27408
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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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