946 Chapman StGreensboro, NC 27403

Property Details for 946 Chapman St

Year built

1950

Construction

FRAME

Lot size

0.25 AC

Property size (Sq ft)

4,218 SF

Zone code

C-M

Property type

Commercial real estate

APN

15738

APU

15738

Description

This Greensboro, NC commercial property presents a compelling investment opportunity. Located at 946 S Chapman St, this single-tenancy auto shop boasts 4,218 square feet on a 0.25-acre lot. The building, constructed in 1950, features a 2,898 square foot conditioned warehouse and a 1,320 square foot office/showroom area, complete with two convenient drive-in doors. The property is situated in a prime location between Gate City Blvd and Spring Garden Rd, offering excellent proximity to I-40 for easy access. Its strategic location also places it within walking distance of the Greensboro Coliseum and Aquatic Center, ensuring high visibility and accessibility. Currently operating under a NNN lease expiring December 30, 2027, the property offers a strong 8.00% cap rate with a Net Operating Income (NOI) of $61,414 and an asking price of $767,676. This Class C retail property represents a solid investment for discerning buyers seeking a well-located, established business in a thriving area. The one-story building provides ample space for a variety of automotive-related businesses or adaptable uses. This is a rare opportunity to acquire a well-positioned property with a proven track record in a high-traffic area of Greensboro.

• CAP approach

  CAP return

  Valuation

  6%

  $524,466

  6.5%

  $484,122

  7%

  $449,542

• Comparable approach

  Method

  Valuation

  Relative Method

  $535,403

  Geo Method

  $968,200

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,080,280

  Retail / Commercial

  $529,069

  Mixed-Use / Specialty

  $507,568

  Hospitality / Lodging

  $346,849

  Office

  $484,122

  Institutional / Educational

  $520,656

  Residential Income

  $609,167

  Multifamily

  $839,344

  Automotive / Energy

  $446,276

  Parking / Income-Based Land

  $173,384

  Restaurant / Food Service

  $222,128

  Healthcare / Senior Housing

  $540,616

Location Insight

City

Greensboro

County

Guilford

State

North Carolina

Latitude

36.0624

Longitude

-79.8241

CBSA code

24660

CBSA name

GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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