For Sale
$3,831,500

5914 University Pkwy Winston-Salem, NC 27105

High-yield, multi-tenant retail property.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional investment opportunity presents a 7,000-square-foot retail building situated on a 1.07-acre lot in Winston-Salem, North Carolina. The property boasts 100% occupancy with two prominent national tenants: Verizon Wireless and Krispy Kreme. Both tenants occupy a single building constructed in 2008, offering a long-term, stable income stream. Verizon Wireless occupies 4,500 square feet with approximately 6.4 years remaining on their lease, including a 10% rent increase option. Krispy Kreme occupies 2,500 square feet with approximately 5.2 years remaining on their lease, also including a 10% rent increase option in each of three 5-year periods. The property generates a substantial net operating income (NOI) of $239,467, resulting in a compelling 6.25% capitalization rate. The asking price is $3,831,500. The property benefits from a prime location directly across from a major shopping center anchored by Sam's Club and Lowe's, and within close proximity to numerous other retail establishments, including Walmart, Target, and various restaurants. Its strategic location is further enhanced by its proximity to Wake Forest University, a significant draw for students and staff. Ample parking is available with 45 spaces. This is a rare opportunity to acquire a well-positioned, high-performing retail asset with significant upside potential. The property is offered as a net lease investment, providing a passive income stream with minimal management responsibilities.

Highlights

  • Established Tenants: Verizon and Krispy Kreme, original tenants since 2008.
  • Strong Net Lease Income: Verizon's lease extends to 2031 (6.4 years remaining) with a 10% rent increase option; Krispy Kreme's lease has 5.2 years remaining with three 5-year options at 10% rent increases each.
  • High-Traffic Location: Situated across from North Summit Square (224,530 SF, anchored by Sam's Club and shadow-anchored by Lowe's), and near Oak Summit shopping center (142,306 SF, including Walmart).
  • Proximity to Wake Forest University: Less than 5 miles from Wake Forest University's 340-acre campus (nearly 9,000 students).

Property Details for 5914 University Pkwy

Property type
Retail properties, Retail space
Square Feet
2,500 SF
Year Built
2008
Buildings
1
Lot Size (sq. ft)
46,609 SF
Units
2

Location Insight

City
Winston-Salem
County
Forsyth
State
North Carolina
Latitude
36.184784695728
Longitude
-80.275018280173

FAQs

What type of property is this?
Retail property - High-yield, multi-tenant retail property.
Where is the retail property located?
The property is located at 5914 University Pkwy Winston-Salem, NC.
What is the asking price?
The asking price for this property is $3,831,500.
What are key features of this property?
This property features: Established Tenants: Verizon and Krispy Kreme, original tenants since 2008.; Strong Net Lease Income: Verizon's lease extends to 2031 (6.4 years remaining) with a 10% rent increase option; Krispy Kreme's lease has 5.2 years remaining with three 5-year options at 10% rent increases each.; High-Traffic Location: Situated across from North Summit Square (224,530 SF, anchored by Sam's Club and shadow-anchored by Lowe's), and near Oak Summit shopping center (142,306 SF, including Walmart).
How can I contact the broker?
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5914 University Pkwy
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