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Former South Greensboro National Bank-1918 524 S Elm St 4,550 SF 100% Leased Office Building Greensboro, NC 27406 $999,950 ($219.77/SF) 6.70% 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 4550 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, theater, museums- all housed in beautiful buildings of another time. 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 4550 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, theater, museums- all housed in beautiful buildings of another time. 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 - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
4,550 SF
Building Class
B
Year Built
1907
Price
$999,950
Price Per SF
$219.77
Cap Rate
6.70%
NOI
$66,967
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,000 SF
Building FAR
1.31
Lot Size
0.08 AC
Opportunity Zone
Yes
Zoning
CBD - Commercial Business District
Parking
5 Spaces (1.1 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Security System
- Signage
- Storage Space
- Air Conditioning
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 0000532 | Total Assessment | $431,500 (2025) |
| Land Assessment | $126,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $305,500 (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
0000532
Land Assessment
$126,000 (2025)
Improvements Assessment
$305,500 (2025)
Total Assessment
$431,500 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026 Payable 2026
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Former South Greensboro National Bank-1918 | 524 S Elm St
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