1560 Glenn Ctr DrWinston-Salem, NC 27107

Property Details for 1560 Glenn Ctr Dr

Year built

2024

Lot size

1.52 AC

Property size (Sq ft)

4,000 SF

Property type

Retail properties

Property subtype

Retail space

Description

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.

Location Insight

City

Winston-Salem

County

Forsyth

State

North Carolina

Latitude

36.0705

Longitude

-80.1133

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