5006 New Bern Avenue

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5006 New Bern Avenue

Raleigh, NC 27610
Asking Price
$3.32M
Cap Rate
7.25%
Asset Type
Auto Shop Retail
Class
Class B

What's Special

Annual Rent Increases | Strong Industrial Presence | Affluent Surrounding Area <p>• Great visibility and access from New Bern Ave | 36,000 VPD</p><p>• Major development projects nearby | Driving significant economic growth, housing expansion, and retail demand in the surrounding corridor | Includes a new ±60-acre mixed-use planned development</p><p>• Annual rent increases for each tenant | 2% & 3% respectively</p><p>• Explosive population growth within 1 mile | 30.74% from 2010-2025</p><p>• Substantial capital improvements made to both buildings recently (see p. 5)</p><p>•

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NOI
$80,000
Cap Rate
2.41%
DSCR
0.41
Underwater
Cash-on-Cash
-11.76%
Monthly Payment
$16,435.443
Annual Cash Flow
$-117,225.321

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