| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 81st | Best |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1402 Adams Farm Pkwy, Greensboro, NC, 27407, US |
| Region / Metro | Greensboro |
| Year of Construction | 1997 |
| Units | 20 |
| Transaction Date | 2020-12-15 |
| Transaction Price | $56,200,000 |
| Buyer | ADVENIR ADAMS FARM LLC |
| Seller | HUDSON CAPITAL STEEPLECHASE LLC |
1402 Adams Farm Pkwy Greensboro Multifamily Investment
Steady renter demand and competitive neighborhood fundamentals point to durable occupancy and income potential, according to WDSuite s CRE market data. The submarket s balance of household incomes and rent levels supports retention with room for disciplined revenue management.
The property sits in an Inner Suburb setting of Greensboro where the neighborhood ranks 52 out of 245 metro neighborhoods, placing it in the top quartile locally. Occupancy in the surrounding neighborhood is competitive among Greensboro neighborhoods, and the renter concentration (about 43% of housing units are renter-occupied) indicates a meaningful tenant base to support leasing.
Within a 3-mile radius, demographics point to a larger tenant base ahead: population and households have grown in recent years, and households are projected to expand further by 2028. Rising household incomes in the 3-mile area provide support for rent collections and potential renewal growth, with a rent-to-income backdrop that signals manageable affordability pressure for typical renters.
Rents in the neighborhood have increased substantially over the past five years, while the median home value sits in a mid-range context for the region. In practice, this high-cost ownership market relative to local incomes helps sustain reliance on multifamily, reinforcing demand depth and lease retention for well-run assets.
Local retail and service density immediately around the neighborhood is limited, so residents are likely to rely on short drives for groceries, cafes, parks, and restaurants. Even with lower walkable amenities, the Inner Suburb location and access to Greensboro s job centers continue to underpin renter appeal, based on commercial real estate analysis from WDSuite.
Safety signals are mixed when viewed through metro-versus-national lenses. The neighborhood scores around the 65th percentile for safety compared with neighborhoods nationwide, yet its crime rank sits near the higher-crime end within the Greensboro metro (ranked 23 out of 245), indicating comparatively more reported incidents than many local peers.
Recent momentum is constructive: property-related offenses declined sharply year over year, and violent offense rates also moved lower, according to WDSuite s CRE market data. For investors, this combination suggests improving trends even as prudent risk management such as lighting, access controls, and resident engagement remains important relative to metro benchmarks.
Regional employment anchors within commuting distance include VF, BB&T Corp., Reynolds American, Hanesbrands, and Laboratory Corp. of America. This mix of corporate headquarters supports a diversified professional workforce that can reinforce renter demand and retention.
- VF — apparel & footwear (8.5 miles) — HQ
- BB&T Corp. — banking (19.3 miles) — HQ
- Reynolds American — tobacco (19.3 miles) — HQ
- Hanesbrands — apparel (22.6 miles) — HQ
- Laboratory Corp. of America — diagnostics (26.7 miles) — HQ
This 20-unit, 1997-vintage asset offers exposure to a Greensboro neighborhood with competitive occupancy and a meaningful renter base. Neighborhood rents have risen materially in recent years while rent-to-income conditions remain manageable, supporting retention and measured pricing power, based on CRE market data from WDSuite.
The 3-mile radius shows growing households today and additional expansion forecast by 2028, pointing to a larger tenant base and sustained leasing velocity. Given the 1997 construction, investors should plan for targeted capital projects and potential value-add repositioning to enhance competitiveness versus newer stock in the metro.
- Competitive neighborhood occupancy with a sizable renter-occupied housing base supports demand stability.
- Household growth within 3 miles and rising incomes expand the renter pool and backfill turnover.
- Rent levels have trended upward with retention supported by balanced rent-to-income dynamics.
- 1997 vintage offers value-add potential; plan for systems upgrades to compete with newer deliveries.
- Risks: limited nearby walkable amenities and a higher-crime rank versus metro peers warrant prudent onsite security and resident engagement.