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2033 W Garner RdGarner, NC 27529
Income Producing Multi Building Flex
Asset ClassIndustrial
Cap Rate8.21%
Square Feet: 9,145Deal Size: $1.21 MWeighted Average Lease Term: 4.5 YearsAccess Data Room
Cash Flowing Asset in Raleigh/Durham MSA
overview of deal

Overview

This income producing property is offered at $1,210,000 ($137 / SF) and delivering $99,380 in annual NOI for a 8.21% cap rate, this ±9,145 SF, four-building flex complex couples secure cash flow with hard-to-replace real estate in Garner’s fast-growing industrial corridor. The site fronts W Garner Rd with a dedicated office/showroom and three rear warehouse bays, 3-phase power, 15-ft peak clear height and four drive-in doors, plus nearly half an acre of impervious lay-down yard for outdoor storage or parking. A single, local tenant—an established auto-services firm in business for 20+ years—recently executed a five-year NNN lease at market rent and invested substantial capital into upgrading the premises. Immediate connectivity to I-40, US-70, downtown Garner and downtown Raleigh underpins long-term tenant demand and future rent growth, positioning the asset for durable income today and appreciation tomorrow. The property also sits in a high growth corridor experiencing multiple large townhome developments and 400,000+ sqft of industrial being developed across the street at Thompson Business Park, positioning it for long term growth and appreciation.

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Sale Comparables

Property Address
Sale Date
Total Sqft
Purchase Price
Purchase Price Per Sqft
Occupancy at Sale
1
8035 Chapel Hill Rd, Cary NC
August 22, 2024
6,964
$1,850,000
$265.65
100%
2
7212 Siemens Rd, Wendell NC
January 11, 2024
8,329
$1,200,000
$144.07
100%
3
403 Loop Rd, Raleigh NC
July 13, 2023
15,000
$2,700,000
$180
100%
4
1108 New Hope Church Rd, Raleigh NC
February 28, 2024
15,000
$2,250,000
$150
100%
5
5335 US-70 Bus Hwy W, Clayton NC
July 22, 2024
6,832
$1,500,000
$219.56
0%
6
105 Fenton St, Raleigh NC
June 28, 2024
8,500
$1,500,000
$176.47
100%
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2033 W Garner RdGarner, NC 27529
Access to I-40 corridor
Access to US-70 corridor
Downtown Raleigh
Downtown Garner
North Carolina ABC Commission Warehouse & Office Complex
Thompson Business Park (400k Industrial Development across the street)
540 Expansion
RDU Airport

Sales Team

, Raleigh, NC

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Listing provided by Revere CRE