Listed by Pinpoint Properties
$2,150,000
400 West
Details
Property Type Retail
Sub Type Bar, Restaurant
Square Footage 4,808
Cap Rate 6.02%
NOI $129,432
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 10.8
Lease Expiration 10/31/2034
Remaining Term 8.4
Price per SqFt $447
Class A
Year Built 2008
Year Renovated 2014, 2024
Investment Type Net Lease
Lease Commencement 01/01/2024
Sale Condition 1031 exchange
Prime 1031 Exchange Opportunity in Downtown Raleigh!
Marketing description
This beautiful ground floor condominium, unit 120, is one of four commercial units with 170 residences above.
Built in 2008 and renovated in 2014, it sits along the bustling Glenwood South area adjacent to the quickly developing Smoky Hollow project. In 2024 a kitchen was added and long-term lease was executed.
This unique condo is approximately 4,064 SF with an additional 820 SF mezzanine.
PLEASE CONTACT JONI BARNES TO BOOK YOUR PRIVATE TOUR AT 919.201.3273
Listing Contacts
Listed by Pinpoint Properties
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$129,432.00
$10,786.00/mo
Valuation Metrics
0
DSCR
6.02%
Cap Rate
6.02%
ROI
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