4401 New Bern AveRaleigh, NC 27610

Property Details for 4401 New Bern Ave

Year built

2005

Construction

BRICK

Lot size

1.27 AC

Property size (Sq ft)

6,964 SF

Zone code

CX-3

Property type

Retail properties

Property subtype

Retail space

APN

1724.12-96-8035 0310547

APU

1724129680350310547

Description

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.

Location Insight

City

Raleigh

County

Wake

State

North Carolina

Latitude

35.7991

Longitude

-78.5621

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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