For Sale
$3,454,000

1560 Glenn Ctr DrWinston-Salem, NC 27107

Net-leased storefront; strong tenant, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 4,000-square-foot, newly constructed (2024) Sherwin-Williams storefront in Winston-Salem, NC. The property boasts a 10-year net lease (expiring 12/31/2034) with a credit-rated tenant, offering a secure and stable income stream. The lease includes 8% rent bumps at each option period, ensuring consistent growth in rental income. The property's strong financial performance is reflected in its 5.75% cap rate and $198,605 annual net operating income (NOI). Situated on a 1.52-acre lot, the property provides ample parking (18 spaces) and excellent visibility. Its strategic location on Glenn Center Drive benefits from high traffic volume (31,800 vehicles per day combined from Glenn Hill Rd & Union Cross Rd), proximity to major retailers (Walmart, Food Lion, etc.), and a dense residential population (11,351 households within 5 miles, with an average household income of $122,000 within 1 mile). The area also features a significant industrial presence and a rapidly growing population. The property's proximity to Robert B Glenn High School, Novant Health Kernersville Medical Center, and Wake Forest University further enhances its appeal. This is a rare opportunity to acquire a high-quality, net-leased retail property with a strong tenant and significant upside potential.

Highlights

  • $3,454,000 asking price for a 4,000 SF Sherwin-Williams storefront on a 1.52-acre lot.
  • New construction (2024) with a 10-year net lease (NN) to a credit-rated tenant.
  • Corporate guaranteed lease with Sherwin-Williams, investment-grade credit rating (BBB/Baa2).
  • Excellent location with high traffic counts (31,800 VPD) on Glenn Hill Rd & Union Cross Rd, near residential and commercial development.
  • Strong demographics: 1,000+ multi-family units and 11,351 households within 5 miles.

Property Details for 1560 Glenn Ctr Dr

Property type
Retail properties, Retail space
Square Feet
4,000 SF
Year Built
2024
Lot Size (sq. ft)
66,211 SF
Units
1

Location Insight

City
Winston-Salem
County
Forsyth
State
North Carolina
Latitude
36.070492
Longitude
-80.113254
1560 Glenn Ctr Dr, Winston-Salem, North Carolina

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1560 Glenn Ctr Dr
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