Contacts
Property Details
- Property Type Other
- Property Size 1,096 SF
- Lot Size 28.02 SF
- Year Built 1998
- Date Updated Feb 18, 2025
A PERFECT VALUE-ADD ASSET IN AN AFFLUENT SUBMARKET OF GREENSBORO
Colliers is pleased to present Crowne Gardens, a 344-unit garden style community with immediate value-add upside located near large employers in an affluent submarket of Greensboro, NC. Originally developed by Crowne Partners in 1998 to condo-quality standards including 9’ ceilings, the property has a proven track record of strong demand and stable occupancy, averaging over 95% over the last 12 months. In excellent physical condition, new ownership can leverage strong demand (69% renewal rate in the last 10 months) and outstanding market rent growth (41% Class B effective rent growth in Greensboro in the last 5 years) while capturing proven value-add premiums.
120 units (35%) are in unrenovated condition featuring original cabinets, laminate countertops, and white or black appliances. 159 units have various moderate upgrades including cherry, mocha, or white cabinets, hardwood-style floors, and black appliances. Current ownership recently renovated 65 units with premium finishes such as modern gray cabinets, higher-end countertops, and stainless steel appliances to generate incredible $305/unit renovation premiums. Cured of deferred maintenance and offering a comprehensive amenity package, new ownership can concentrate investment capital into revenue-generating improvements. Positioned in an affluent pocket of Greensboro, Crowne Gardens represents a perfect value-add opportunity.
94% Occupied
Reach out to the broker for more info on lease terms and amenities
Getting around
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20/100
Walk Score ®
-
45/100
Bike Score ®
Location
- City Greensboro, NC
- Neighborhood Friendly Lakes
- Zip Code 27410
- Market Winston Salem Greensboro
Points of Interest
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Greensboro
6.17 miles
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Shell
0.17 miles
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Sheetz
0.61 miles
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BP
1.60 miles
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Speedway
1.62 miles
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Citgo
1.64 miles
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Circle K
2.01 miles
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Exxon
2.09 miles
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Harris Teeter Fuel
2.46 miles
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ChargePoint
3.62 miles
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Tesla Supercharger
3.93 miles
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Overflow Lot
2.46 miles
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Rental Car Parking
2.54 miles
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Parking - Tanger Family Bicentennial Garden
2.63 miles
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Employee Parking
2.70 miles
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Rental Returns Parking
2.89 miles
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Long Term Parking
2.99 miles
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Long Term Garage Parking
3.12 miles
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Greensboro-High Point Marriott Airport
3.29 miles
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Wyndham Garden Greensboro
3.64 miles
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Fairfield Inn
3.67 miles
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O'Henry Hotel
3.68 miles
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Microtel
3.72 miles
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Hilton Garden Inn Greensboro
3.77 miles
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Extended Stay America
3.79 miles
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Holiday Inn Express Greensboro-(I-40 @ Wendover)
3.79 miles
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Proximity Hotel
3.85 miles
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Hotel Denim
3.92 miles
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ALDI
0.13 miles
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Lowes Foods
0.16 miles
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Marshalls
0.21 miles
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The Fresh Market
0.24 miles
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Target
0.41 miles
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Harris Teeter
0.58 miles
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Food Lion
1.48 miles
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Quaker Village
1.65 miles
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Walmart Neighborhood Market
1.74 miles
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Trader Joe's
1.94 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.