Glenwood Ave
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Glenwood Ave
2 Retail Properties Offered at £4,621,470 in Raleigh, NC
Investment Highlights
- Prime 2.77-Acre Location
- High-Visibility
- Development Potential
- Established National Tenants
- Seamless Transition
- Ample Parking
Executive Summary
This prime 2.77-acre property in Northwest Raleigh offers excellent visibility and accessibility.
It features two national tenants, Sherwin-Williams and Pizza Hut. Sherwin-Williams has been in place for over 40 years. These tenants are paying market rents on NNN leases. Tenants have current leases which are up in 2029, but with options to renew.
The property also includes a 5,000 sq. ft. 6-bay mechanic shop, which has been in business for over 55 years (43 years at this location). Though the current owner will vacate, employees are interested in staying on, making for a seamless transition. The meticulously maintained shop offers ample space and a huge parking lot, with the business and FFE potentially available for separate purchase.
Additionally, the property presents a valuable opportunity for further development. There is vacant land between the mechanic shop and the Sherwin-Williams building, ideal for a new 5,000 sq. ft. building. This development potential offers ample space for expansion or new ventures, enhancing the property's overall appeal.
The TOTAL NOI yearly = $191,829 (current renewed leases with Pizza Hut and Sherwin Williams. Tenants have current leases which are up in 2029, but with options to renew.
PLUS 5000sq.ft Mechanic shop which I have interested parties to lease if need be at $13,000/mo plus NNN
It features two national tenants, Sherwin-Williams and Pizza Hut. Sherwin-Williams has been in place for over 40 years. These tenants are paying market rents on NNN leases. Tenants have current leases which are up in 2029, but with options to renew.
The property also includes a 5,000 sq. ft. 6-bay mechanic shop, which has been in business for over 55 years (43 years at this location). Though the current owner will vacate, employees are interested in staying on, making for a seamless transition. The meticulously maintained shop offers ample space and a huge parking lot, with the business and FFE potentially available for separate purchase.
Additionally, the property presents a valuable opportunity for further development. There is vacant land between the mechanic shop and the Sherwin-Williams building, ideal for a new 5,000 sq. ft. building. This development potential offers ample space for expansion or new ventures, enhancing the property's overall appeal.
The TOTAL NOI yearly = $191,829 (current renewed leases with Pizza Hut and Sherwin Williams. Tenants have current leases which are up in 2029, but with options to renew.
PLUS 5000sq.ft Mechanic shop which I have interested parties to lease if need be at $13,000/mo plus NNN
Property Facts
| Price | £4,621,470 | Number of Properties | 2 |
| Price / SF | £352.68 / SF | Individually For Sale | 0 |
| Sale Type | Investment NNN | Total Building Size | 13,104 SF |
| Status | Active | Total Land Area | 3.82 AC |
| Price | £4,621,470 |
| Price / SF | £352.68 / SF |
| Sale Type | Investment NNN |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 13,104 SF |
| Total Land Area | 3.82 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 6429 Glenwood Ave, Raleigh, NC 27612 | Retail | 8,504 SF | 1983 | - |
| 6425 Glenwood Ave, Raleigh, NC 27612 | Retail | 4,600 SF | 1980 | - |
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