Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    503 Martin Luther King Jr Dr Greensboro, NC 27406-1675

    • Apartment buildings
    • 52,360 SF
    • 2.74 lot acres
    OFF-MARKET
    Value Estimations
    $4,765,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2009966
    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

    • Nettie Coad Apartments / Apartment Building
    • Ole Asheboro Street Association / Association / Organization
    • Caldwell School / High School

    Property Details for 503 Martin Luther King Jr Dr

    Year built
    1922
    Construction
    FRAME
    Lot size
    2.74 lot acres
    Property size
    52,360 SF
    Zone code
    TN1
    Property type
    Apartment buildings
    APN
    2826
    APU
    2826

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $3,441,000
      Market price range: $3.44M - $11.7M

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

    Location Insight

    • Map
    • Local Demand
    City
    Greensboro
    County
    Guilford
    State
    North Carolina
    Longitude
    -79.7853
    Latitude
    36.063
    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
    $119,400
    $1,820,400
    $1,939,800
    -
    $119,400
    $1,820,400
    $1,939,800

    Comparable in this City

    • Value Estimation
      $1,010,000
      5,600 SF

      649 Crk Rdg Rd

      APARTMENT HOUSE (5+ UNITS) • 5,600 SF
      649 Crk Rdg Rd, Greensboro, NC 27406-4356
      View Details
    • Value Estimation
      $26,470,000
      38,784 SF

      1010 Eugene St

      APARTMENT HOUSE (5+ UNITS) • 38,784 SF
      1010 Eugene St, Greensboro, NC 27406
      View Details
    • Value Estimation
      $10,095,000
      20,274 SF

      3512 Elm Eugene St

      APARTMENT HOUSE (5+ UNITS) • 20,274 SF
      3512 Elm Eugene St, Greensboro, NC 27406-7422
      View Details
    • Value Estimation
      $775,000
      5,890 SF

      523 Martin St

      APARTMENT HOUSE (5+ UNITS) • 5,890 SF
      523 Martin St, Greensboro, NC 27406-1673
      View Details
    • Value Estimation by Request
      4,320 SF

      1002 Martin Luther King Jr Dr

      APARTMENT HOUSE (5+ UNITS) • 4,320 SF
      1002 Martin Luther King Jr Dr, Greensboro, NC 27406-1678
      View Details
    • Value Estimation
      $4,045,000
      28,116 SF

      921 Mdw Oak Dr

      APARTMENT HOUSE (5+ UNITS) • 28,116 SF
      921 Mdw Oak Dr, Greensboro, NC 27406
      View Details

    Similar Nearby for Sale

    • $325,000

      Greensboro Triplex with Remodeled Units

      Versatile triplex in Greensboro with remodeled units and income potential.
      3530 Riverside Dr, Greensboro, NC 27406
      View Details
    • $325,000
      2,438 SF

      Greensboro Triplex: Investment Opportunity

      Versatile triplex with remodeled units, income potential, and lake views.
      3530 Riverside Dr, Greensboro, NC 27406
      View Details
    • $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
      View Details
    • $170,000

      Commercial Land For Sale

      Commercial land available for business purposes.
      3527 Rehobeth Church Rd, Greensboro, NC 27406
      View Details
    • $1,028,125
      8,225 SF

      Greensboro Flex/Industrial Space Available

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

    Similar Nearby for Lease

    • $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.
      101 E Carteret St, Greensboro, NC 27406
      View Details
    • Contact for pricing
      2,268 SF

      Greensboro Flex Space For Rent

      Flex property with warehouse space, offices, and dock loading.
      3001-3011 Pacific Ave, Greensboro, NC 27406
      View Details
    • $9 SF/Yr
      6,726 SF

      Industrial Warehouse with Paved Yard

      6,726 SF industrial warehouse with convenient highway access.
      1520 Alamance Church Rd, Greensboro, NC 27406
      View Details
    • Contact for pricing
      46,333 SF

      Greensboro Warehouse and Distribution Location

      Warehouse and distribution property with excellent access to major transportation.
      2933 S Elm Eugene St, Greensboro, NC 27406
      View Details
    • $16 SF/Yr

      Greensboro Commercial Land Opportunity

      0.56-acre lot, prime Greensboro location
      4612 Woody Mill Rd, Greensboro, NC 27406
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    503 Martin Luther King Jr Dr
    Greensboro, NC 27406-1675
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.