For Sale
$16,500,000

4401 New Bern AveRaleigh, NC 27610

High-Yield Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional retail portfolio in Raleigh, NC, presents a compelling investment opportunity. The property comprises six buildings totaling 58,721 square feet on 8.44 acres, featuring a diverse mix of 24 units across multiple tenants. Anchored by prominent national brands such as Starbucks and AutoZone, the portfolio boasts a strong 93% occupancy rate and a compelling 7.57% cap rate. The property includes four multi-tenant retail buildings and two single-tenant buildings, with an average suite size of 2,380 square feet in the multi-tenant structures. Built in 2004, the property benefits from a high-traffic location on New Bern Avenue, experiencing 37,000 vehicles per day. Its strategic infill position near I-440 and I-540, coupled with proximity to a future Bus Rapid Transit (BTR) station, ensures continued growth potential. The surrounding area demonstrates strong demographics, with over 71,000 people within a 3-mile radius and nearly $95,000 average household incomes. The portfolio's adjacency to a recently remodeled Walmart Supercenter, ranked among the top 5 in a 50-mile radius, further enhances its desirability. This is a rare opportunity to acquire a well-established, high-performing retail portfolio in a prime Raleigh location. The asking price is $16,500,000.

Highlights

  • Raleigh, NC Retail Portfolio: Six parcels totaling 8.44 acres.
  • Four multi-tenant and two single-tenant retail buildings.
  • Includes freestanding AutoZone and Starbucks; adjacent to a recently remodeled, top-performing Walmart Supercenter.
  • Strong tenant mix including retail, medical, and restaurants.
  • Average multi-tenant suite size: 2,380 square feet.
  • High traffic count: 37,000 vehicles per day on New Bern Ave.

Property Details for 4401 New Bern Ave

Property type
Lifestyle centers, Power centers
Square Feet
58,721 SF
Year Built
2004
Buildings
6
Stories
1
Lot Size (sq. ft)
367,646 SF
Units
24

Location Insight

City
Raleigh
County
Wake
State
North Carolina
Latitude
35.7989692
Longitude
-78.5620528
4401 New Bern Ave, Raleigh, North Carolina

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4401 New Bern Ave
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