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GREENSBORO — The financially troubled YWCA Greensboro has put its downtown property on the market for $2.98 million, a step that could soon force the agency to leave the center city.

“We are looking at a site that will serve us well, but it is not downtown,” said Jean Pudlo, the YWCA’s interim executive director. “We are not using enough of this building to justify the cost of operating (all of it).”

Since the YWCA’s financial problems came to light last fall, the nonprofit has eliminated its fitness and aquatics programs and reduced staff to cut costs.

Now, it doesn’t need as much space.

The 23,115-square-foot building sits on 1.74 acres at 1 YWCA Place, the heart of the city’s cultural district, making it one of the most prized pieces of real estate downtown.

The property is bounded by the Greensboro Historical Museum, the Greensboro Public Library, the Greensboro Cultural Center and Festival Park, a 0.6-acre green space off Davie Street.

“You couldn’t ask for a more strategic location,” said David Hagan, president of Hagan Properties, the firm marketing the site.

“It is the hole of the doughnut. It is surrounded by city property.”

While the location might be ideal, the economy isn’t.

And finding a buyer for a property that carries a nearly $3 million price could be a challenge.

Even so, Hagan said he’s already gotten calls from two prospects.

However, several community leaders said they would like to see the city buy the property and use it to enlarge Festival Park.

“There are various ways that we could take down a piece of property,” said Zack Matheny, a City Council member. “And we would analyze them all. It is not out of the question. The city, if it makes sense, could purchase land at reasonable prices.”

But Matheny called $2.98 million unreasonable.

“This is a poor economy and a poor economy for real estate,” Matheny said. “This is not a sellers’ market.”

Skip Moore, president of the Weaver Foundation, said he’d also like to see the property used to expand the park.

Asked if the foundation would be willing to buy the land and bank it, as it did the Duke Energy property at the corner of Church Street and Friendly Avenue, Moore said, “We are interested in the property for the future, but probably not at that price and not acting alone .... I think there are likely to be conversations about how it can be acquired.”

Money from the sale of the building will go to pay the YWCA’s $80,000 debt, strengthen its cash reserves and build the endowment. In recent years, the YWCA has sustained deficits of between $70,000 and $130,000, Pudlo has said.

Built in 1970, the YWCA building contains nine private offices, two meeting rooms, a patio, kitchen, swimming pool, gym, fitness room, locker rooms, dance studio, nursery and fenced playground. The property also has a parking lot for 66 cars.

Pudlo said a new home could save the YWCA $3,000 to $4,000 a month.

She said the YWCA could decide on a new location within the next two weeks. A move would follow a month or two later.

Contact Donald W. Patterson at 373-7027 or don.patterson@news-record.com