10 Technology Dr - Freestanding FOR SALE


Garner, NC 27529
$6,218,000 USD
704-697-1900
10 Technology Dr, Garner, NC for Sale
$6,218,000 USD
Freestanding - FOR SALE
1/5
null | 6.25% Cap Rate

10 Technology Dr
Garner, NC 27529


HIGHLIGHTS

  • GREAT VISIBILITY AND ACCESIBILITY
  • ATTRACTIVE LEASE FUNDAMENTALS
  • HIGH GROWTH AND AFFLUENT TRADE AREA

OVERVIEW

RALEIGH MSA TAILWINDS - Raleigh, NC ranked #3 in 2023 of best residential markets (Rocket Mortgage) - Raleigh forecasts a 44% job growth over the next 10 years (3.0% growth from 2021 to 2022) - Raleigh ranked #3 in best places to live for 2023-2024 (U.S. News) STRONG CREDIT TENANTS - AT&T (5,900+ locations) has a credit rating of BBB+ - Aspen Dental (1,000+ locations) B- - Mattress Warehouse (300+ locations) is rated B+ ATTRACTIVE LEASE FUNDAMENTALS - Each Tenant has signed a new 10 year lease - All three leases have at least 2 x 5 year extensions left - Each lease provides 10% rent increases every 5 years in base term and option periods GREAT VISIBILITY AND ACCESIBILITY - Multiple points of egress and ingress - New construction strip center located on hard corner of a lighted intersection providing frontage on both Technology Dr & NC-42 (~32K VPD) - Approximately a quarter mile to I-40 (67,500 VPD) LOCATED IN LOW VACANCY RETAIL NODE - 885K sqft of retail space in a 1-mile radius boasting a 1.1% vacancy rate - Over 14K SF of absorption YoY - Nearby retail tenants include: Walmart supercenter, Lowe’s Home Improvement, Food Lion, Walgreens, Dunkin Donuts HIGH GROWTH AND AFFLUENT TRADE AREA - 3.7% annual population growth in a 1-mile radius (2020 to 2024) with a forecasted 4.3% for the next 5 years - AHHI exceeds $96K in a 1 mile radius providing a high discretionary spending

FOR SALE DETAILS

PRICE

$6,218,000 USD

PRICE/SF

$661 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Shops at Swift Creek

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Convenience Store, Drug Store, Health Club

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

76

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

COM

APN/PARCEL ID

06E02002B,06E02004O

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
704-697-1900

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David HoppeAtlantic Capital PartnersMore Info
704-697-1900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.