Glenwood Ave Retail FOR SALE


Raleigh, NC
$5,900,000 USD
919-475-5769
, Raleigh, NC for Sale
$5,900,000 USD
Retail - FOR SALE
1/26
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Glenwood Ave
Raleigh, NC


HIGHLIGHTS

  • Prime 2.77-Acre Location
  • Established National Tenants
  • High-Visibility
  • Seamless Transition
  • Development Potential
  • Ample Parking

OVERVIEW

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

ASK ABOUT THIS PROPERTY

Vandan Gandhi, CCIMKW CommercialMore Info
919-475-5769

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Vandan Gandhi, CCIMKW CommercialMore Info
919-475-5769

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