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Multi-Tenant Medical/Retail 5921 W Friendly Ave 12,259 SF 100% Leased Office Building Greensboro, NC 27410 $3,300,000 ($269.19/SF) 6.75% Cap Rate
EXECUTIVE SUMMARY
Below Replacement Cost Pricing: The asking price of $269.19 PSF is well below estimated replacement cost, offering investors long-term value and downside protection.
Attractive Rent Profile with Built-In Growth: Tenants pay an average base rent of $19.40 PSF, with scheduled 3% annual rent escalations through initial terms and renewals, providing stable income today and attractive growth.
Favorable Tenant Mix: Two of three tenants have occupied the center since 2004, and Eagle Physicians has expanded twice since 2022 to now occupy over 60% of the center. Eagle Physicians has over 30 years of operational history with 14 market locations.
Strong Demographics: With a 5 mile population density of ±158,000 people and an average household income of $101,900, this property is ideally situated for excellent customer/patient exposure through its proximity to a large and affluent population base.
Prime Traffic Corridor: W Friendly Avenue (23,500 VPD) offers excellent visibility and is lined with an abundance of high-performing national retailers such as Harris Teeter, Walmart, Chick-fil-A, Starbucks, and Chipotle.
Strong Market Fundamentals: Greensboro, with its ideal location and vibrant business atmosphere, ranked #1 in the 2025 “Best North Carolina Cities for Small Business” by B2B Reviews, reflecting a healthy business climate and long-term growth potential.
Attractive Rent Profile with Built-In Growth: Tenants pay an average base rent of $19.40 PSF, with scheduled 3% annual rent escalations through initial terms and renewals, providing stable income today and attractive growth.
Favorable Tenant Mix: Two of three tenants have occupied the center since 2004, and Eagle Physicians has expanded twice since 2022 to now occupy over 60% of the center. Eagle Physicians has over 30 years of operational history with 14 market locations.
Strong Demographics: With a 5 mile population density of ±158,000 people and an average household income of $101,900, this property is ideally situated for excellent customer/patient exposure through its proximity to a large and affluent population base.
Prime Traffic Corridor: W Friendly Avenue (23,500 VPD) offers excellent visibility and is lined with an abundance of high-performing national retailers such as Harris Teeter, Walmart, Chick-fil-A, Starbucks, and Chipotle.
Strong Market Fundamentals: Greensboro, with its ideal location and vibrant business atmosphere, ranked #1 in the 2025 “Best North Carolina Cities for Small Business” by B2B Reviews, reflecting a healthy business climate and long-term growth potential.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Building Size
12,259 SF
Building Class
B
Year Built
2004
Price
$3,300,000
Price Per SF
$269.19
Cap Rate
6.75%
NOI
$222,670
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
12,259 SF
Building FAR
0.22
Lot Size
1.28 AC
Zoning
CD-C-M
Parking
49 Spaces (4 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Number | 0075213 | Improvements Assessment | $920,100 |
| Land Assessment | $802,900 | Total Assessment | $1,723,000 |
PROPERTY TAXES
Parcel Number
0075213
Land Assessment
$802,900
Improvements Assessment
$920,100
Total Assessment
$1,723,000
CONTACTS
-
Robert Schmidt, CCIM -
Peter Couchell, CCIM -
Robbie Perkins -
Stanhope Johnson -
Tammy Dixon ,CCIM, CMB®, SIOR -
Lawrence Myers -
NAI Earle Furman LLC
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Multi-Tenant Medical/Retail | 5921 W Friendly Ave
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