200 W Peace St - Freestanding FOR SALE


Raleigh, NC 27603
$3,600,000 USD
919-272-1908
200 W Peace St, Raleigh, NC for Sale
$3,600,000 USD
Freestanding - FOR SALE
1/5
null | 3.69% Cap Rate

Aug '25


200 W Peace St
Raleigh, NC 27603


OVERVIEW

Investment Opportunity: Fully Leased Retail Building within walking distance to Seaboard Station and Smoky Hollow District, offering immediate revenue enhancement opportunities and long-term development potential. This property offers a unique investment opportunity. With all current leases expiring in August 2025, there is significant potential to either re-tenant the building or adjust the current rents to market levels. The building has recently been remeasured, and the correct square footage is 7,330 (see building floor plan). The current leases are based on a square footage of 6,073 SF. Correcting this discrepancy could significantly boost the cap rate, providing a larger return on investment. Additionally, in 2007, the closure of Firwood Avenue added a 25-foot strip totaling 0.14 acres to the northern property border, further enhancing the property’s value. The property holds future development potential. The neighboring plot to the west, currently owned by NCDOT, may be available for acquisition. However, prospective buyers should consider the major utility easement situated behind the building, as it may affect plans for new construction.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$491 USD /SF

CAP RATE

3.69%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

McNitt Commons

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Restaurant, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

CROSS STREETS

Capital Blvd

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

DX-12

APN/PARCEL ID

1704.19-62-1184-000

ASK ABOUT THIS PROPERTY

Terry MikelsAtlas Stark Holdings, LLCMore Info
919-272-1908

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Terry MikelsAtlas Stark Holdings, LLCMore Info
919-272-1908

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