314 S ELM ST Greensboro NC 27401

Historic store front four story property on Greensboro's most historic street. Development plans have already been completed at an expense of $80,000 and can be used by the purchaser/developer. Plans are for first level retail and restaurant with the above floors developed as eighteen apartment units. Proforma gross revenue once completed is estimated at $426,000 per year. The historic property is subject to a 20% tax credit for both federal and state for cost of redevelopment.

The property was built in 1904 with a solid building core and supporting structures. The property consists of two adjacent buildings and operated as Miller Furniture Company until it closing in 2000. Addresses are 316 and 314 S Elm St., Greensboro, NC. Gross square footage is 25,888 square feet. Plans provide a first floor hall to the elevator and stairs separate from the retail space. The design configuration for floors two through four provides eight one bedroom units and ten two bedroom units. The first floor can either be one restaurant/retail space or separated.

Downtown Greensboro has gone through a significant revitalization. Please click on the sites below for detailed plans of developments some of which has already been completed.

https://www.greensboro-nc.gov/departments/planning/learn-moreabout/redevelopment/redevelopment/south-elm-street

https://www.greensboro-nc.gov/departments/planning/learn-moreabout/redevelopment/redevelopment/redevelopment-area-maps

• Significant Federal and State Tax Credits Available
• Reduced Local Property Tax Upon Qualification
• Built with Core Structure with Heavy Beams, Flooring and Support
• Middle of Downtown Revitalization