CAP RATE: 6.00%
BUILDING SIZE: 4,148 Sq Ft
YEAR BUILT | RENOVATED: 2013 | 2021
LOT SIZE: +/- 0.81 Acres
- Brand New 15 Year Lease | Absolute NNN | 1.50% Annual Increases – The tenant will operate under a brand new 15 year lease. In addition to the long term lease, the lease will be subject to zero landlord responsibilities (Absolute NNN) and feature annual rental increases of 1.50%, to compound the new landlord’s return and hedge against inflation. This unique opportunity will offer an investor the ability to acquire a rare free standing medical property from a leading urgent care brand with no landlord responsibilities, in a Top 10 Southeast MSA.
- Prolific Retail Corridor Across from Costco | Inside the Beltline – The subject property is ideally positioned across the street and .3 miles away from Costco, a newer construction Wegmans (2019) and the #1 Trader Joe’s in North Carolina (Placer.ai). According to Placer.ai, the site is a stone’s throw away from 4,000,000+ annual visitors from those 3 grocers/ retailers alone. There is a sturdy national retail presence in the immediate retail corridor including, Chick-fil-A, Starbucks, McDonald’s, Ross Dress for Less, Planet Fitness and a handful of popular new retailers including, First Watch, Torchy’s Tacos, CAVA, and Crumbl Cookies. The site is located “Inside the Beltline”, the place to live in Raleigh, with convenient access to downtown and the capitol, NC State University, and less than a half mile to I-440, the major interstate that encircles Raleigh.
- Robust Demographics | $100,000+ AHHI in 1 and 3 Mile Radius | 260,000+ People in 5 mile Radius – The Raleigh-Midtown AFC Urgent Care location will benefit from over 100,000 people in a three mile radius and more than 260,000 people in a five mile radius. On top of the dense population metrics, this urgent care location will be critical to conveniently serve the 215,000+ daytime employees in a five mile radius. Not only does this AFC Urgent Care location benefit from outstanding population and employment metrics, the average household income exceeds $100,000 in a one mile and three mile radius.
- Raleigh, NC – Top Growth MSA | #3 Best Places to Live in Country – Raleigh- Durham was ranked #3 in U.S. News and World Report’s Best Places to Live Rankings for 2023-2024. In a one mile radius, the site saw an explosive, 3.9% annual increase in population growth from 2010- 2023. Raleigh is the capital of North Carolina and most populous city in the Research Triangle. The Research Triangle is home to over 2,100,000 people (2020 Census) and Apple has plans to invest over $1 billion to the Raleigh area for their east coast campus and engineering hub in the coming years.