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1918-S. Greensboro National Bank 524 S Elm St 4,568 SF 100% Leased Office Building Greensboro, NC 27406 $1,408,180 CAD ($308.27 CAD/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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$98,577
|
$21.67
|
| Other Income |
$13,719
|
$3.02
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$112,297
|
$24.68
|
| Taxes |
-
|
-
|
| Operating Expenses |
$17,445
|
$3.83
|
| Total Expenses |
$17,445
|
$3.83
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $98,577 |
| Annual Per SF | $21.67 |
| Other Income (CAD) | |
|---|---|
| Annual | $13,719 |
| Annual Per SF | $3.02 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $112,297 |
| Annual Per SF | $24.68 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $17,445 |
| Annual Per SF | $3.83 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $17,445 |
| Annual Per SF | $3.83 |
| Net Operating Income (CAD) | |
|---|---|
| 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
$1,408,180 CAD
Price Per SF
$308.27 CAD
Cap Rate
6.74%
NOI
$94,851 CAD
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 | $430,755 CAD |
| Land Assessment | $177,660 CAD | Total Assessment | $608,415 CAD |
Property Taxes
Parcel Number
0000532
Land Assessment
$177,660 CAD
Improvements Assessment
$430,755 CAD
Total Assessment
$608,415 CAD
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1918-S. Greensboro National Bank | 524 S Elm St
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