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Property Detail

Pai Park
Vacant +/-30,340-square-foot, two-story office asset with a superb location within the bustling .
$400,000

Description

  • Vacant +/-30,340-square-foot, two-story office asset with a superb location within the bustling Airport/W Guilford County Office Submarket.
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  • Highly accessible Greensboro location just off NC 68 (30,000+ VPD) and less than 2 miles from I-40/US 241 (50,000+ VPD).
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  • Positioned less than 10 minutes from the Piedmont Triad International Airport, the third-busiest airport in North Carolina.
  • Property was previously home to iHeartMedia and has been meticulously maintained, ensuring quick set-up and operations for a new owner.
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  • Property is located in an amenity-rich area with numerous highly regarded hotels, restaurants, retail shopping, entertainment venues, and more.
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  • Strong demographics as the 3-mile radius has over 23,400 residents, 50% with a bachelor's degree, with a fantastic average HHI above $117,000.

Executive Summary

Brown Investment Properties is pleased to exclusively present a rare investment opportunity to acquire a former iHeartMedia office in Greensboro, North Carolina, with strong operational upside and a stellar Airport Submarket location. 2 Pai Park is a well-positioned office property situated on a spacious +/- 3.45-acre lot with LI, light industrial, zoning. The asset totals +/- 30,340 square feet across two stories, and the property was delivered in 1994. The property has seen upgrades, including a roof replacement in 2012 among others. 2 Pai Park has a parking ratio of 4 per 1,000 square feet, equaling approximately 120 surface-level parking spaces for employees and visitors.

2 Pai Park has an exceptional location in Greensboro just off State Highway 68 and close to Interstate 40. State Highway 68 sees well over 30,000 vehicles passing by daily, and that number jumps up significantly to over 55,000 vehicles passing by daily on Interstate 40. The surrounding area is home to numerous hotels like Hampton Inn, Residence Inn, Fairfield Inn, SpringHill Suites, WoodSpring Suites, Comfort Suites, Hilton Garden Inn, Holiday Inn Express & Suites, Four Points by Sheraton, Home2 Suites by Hilton, Embassy Suites by Hilton, and many more. There are countless amenities in the vicinity including national chains like Subway, Wendy's, Ruby Tuesday, and McDonald's, as well as local spots like Fire & Sticks Japanese Steakhouse & Sushi, Kaya Korean Chinese Restaurant, Bawarchi Biryanis, Steak Street, Pita Delite, and more. The property is located less than 10 minutes from the Piedmont Triad International Airport, the third-busiest airport in North Carolina.

Strategically positioned in the Piedmont Triad region, Greensboro enjoys seamless connectivity to major markets such as Charlotte, Raleigh-Durham, and Atlanta. Its proximity to Interstates 40, 85, and 73 ensures effortless access to the greater area. Greensboro boasts a diverse and robust economic base encompassing advanced manufacturing, logistics, technology, healthcare, and education sectors. Greensboro presents a fertile ground for business expansion, and the city's robust GDP growth and competitive business incentives make it an ideal choice for investors looking to capitalize on sustainable economic development. Greensboro is renowned for its vibrant arts scene, world-class educational institutions, and a welcoming community atmosphere. The city is host to numerous cultural festivals, museums, and recreational opportunities.

Don't miss out on a rare opportunity to acquire a vacant office building with tremendous value-add potential and an amazing location in the Airport/W Guilford County Office Submarket.

Tours by appointment only. Please contact the broker to schedule a tour.

Former iHeartMedia Office by PTI Airport

Listing ID : 00593

SKU: 593

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Price History

DateEventPrice
December 3 2024Listed$400,000.00