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1918-S. Greensboro National Bank 524 S Elm St 4,568 SF 100% Leased Office Building Greensboro, NC 27406 $999,950 ($218.90/SF) 6.74% Cap Rate
Investment Highlights
- Historical Architectural Detail: The building maintains elegant 1900s features from the original day as a bank
- Dedicated Parking: Unlike many downtown space, this building offers 5 dedicated parking spaces
- Prime Walkable Location: Situated in the trendy Elm Street Historic District with restaurants, shop, museums, & nearby theaters
Executive Summary
Positioned in the heart of Downtown Greensboro's vibrant South Elm District, the historic First National Bank presents an exceptional legacy-grade investment opportunity.
Built in 1907, this 4658 +/- square foot architectural gem with vintage character-featuring plaster ceilings, original bank vaults, and period skylights-with modern urban utility. Surrounded by award-winning dining; the Woolworth Museum; nearby the Community Theater of Greensboro, Carolina Theater & the Steven Tanger Center of Performing Arts. This prime commercial building is at the epi-center of mixed-use developments giving the owner/investor a rare opportunity to secure a cornerstone in a high-demand, high-appreciation pedestrian district.
Built in 1907, this 4658 +/- square foot architectural gem with vintage character-featuring plaster ceilings, original bank vaults, and period skylights-with modern urban utility. Surrounded by award-winning dining; the Woolworth Museum; nearby the Community Theater of Greensboro, Carolina Theater & the Steven Tanger Center of Performing Arts. This prime commercial building is at the epi-center of mixed-use developments giving the owner/investor a rare opportunity to secure a cornerstone in a high-demand, high-appreciation pedestrian district.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$70,000
|
$15.38
|
| Other Income |
$9,742
|
$2.14
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$79,742
|
$17.53
|
| Taxes |
-
|
-
|
| Operating Expenses |
$12,388
|
$2.72
|
| Total Expenses |
$12,388
|
$2.72
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $70,000 |
| Annual Per SF | $15.38 |
| Other Income | |
|---|---|
| Annual | $9,742 |
| Annual Per SF | $2.14 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $79,742 |
| Annual Per SF | $17.53 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $12,388 |
| Annual Per SF | $2.72 |
| Total Expenses | |
|---|---|
| Annual | $12,388 |
| Annual Per SF | $2.72 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
4,568 SF
Building Class
B
Year Built
1907
Price
$999,950
Price Per SF
$218.90
Cap Rate
6.74%
NOI
$67,354
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,284 SF
Building FAR
1.31
Lot Size
0.08 AC
Opportunity Zone
Yes
Zoning
CBD - Commercial Business District
Parking
5 Spaces (1.09 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Security System
- Signage
- Storage Space
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 0000532 | Improvements Assessment | $305,500 |
| Land Assessment | $126,000 | Total Assessment | $431,500 |
Property Taxes
Parcel Number
0000532
Land Assessment
$126,000
Improvements Assessment
$305,500
Total Assessment
$431,500
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1918-S. Greensboro National Bank | 524 S Elm St
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