For Sale
$16,500,000

4401 New Bern Ave Raleigh, NC 27610

High-Yield Retail Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
137
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

FAQs

What type of property is this?
Lifestyle center - High-Yield Retail Investment Opportunity
Where is the lifestyle center located?
The property is located at 4401 New Bern Ave Raleigh, NC.
What is the asking price?
The asking price for this property is $16,500,000.
What are key features of this property?
This property features: 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.
How can I contact the broker?
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4401 New Bern Ave
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