5420 Millstream RdMcLeansville, NC 27301

Property Details for 5420 Millstream Rd

Year built

1990

Construction

FRAME

Lot size

11.36 AC

Property size (Sq ft)

147,084 SF

Zone code

BP

Property type

Office properties

Property subtype

Other office properties

APN

84854

APU

84854

Description

This exceptional 147,301 square foot, three-story Class B office building presents a unique investment opportunity. Located in Greensboro, North Carolina, on an 11.36-acre lot in a Business Park (BP) zoning district, this property boasts approximately 605 parking spaces (4.11 per 1,000 sq ft). Built in 1990, the building features approximately 49,100 square foot floorplates with open layouts and abundant natural light from expansive windows. Amenities include a cafeteria, loading dock, and a striking three-story atrium. The campus-like setting offers attractive outdoor spaces such as terraces and patios. Its prime location along the I-40/I-85 corridor provides excellent visibility and signage. The property is conveniently situated approximately 15 minutes from downtown Greensboro, one hour from Raleigh, and 1.5 hours from Charlotte. Currently at 5% occupancy, this multi-tenant building offers significant upside potential. The property's APN is 84854, and the lease type is Gross. This is a rare opportunity to acquire a substantial office building in a desirable location. The auction is scheduled for November 11-13, 2024. Please note that dates and times are subject to change.

• CAP approach

  CAP return

  Valuation

  6%

  $16,136,842

  6.5%

  $14,895,546

  7%

  $13,831,578

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,669,806

  Geo Method

  $33,761,660

• Alternative Use

  Use

  Valuation

  Residential

  $18,470,478

  Hospitality

  $16,918,858

  Educational

  $14,076,291

  Medical

  $14,560,396

  Retail

  $21,896,452

Location Insight

City

Mc Leansville

County

Guilford

State

North Carolina

Latitude

36.0576

Longitude

-79.6558

CBSA code

24660

CBSA name

GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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