The Shoppes at Caveness Farms 11480 Capital Blvd 12,060 SF 100% Leased Retail Building Wake Forest, NC 27587 $8,358,761 CAD ($693.10 CAD/SF) 5.75% Cap Rate

The Shoppes at Caveness Farms presents an exceptional opportunity to acquire a 100% leased, multi-tenant retail investment in the rapidly growing Wake Forest market. Offered at $6,013,930, the property generates projected 2026 NOI of $345,801, representing a 5.75% cap rate.
Strategically located at 11480 Capital Boulevard, the property benefits from outstanding visibility along one of the area’s busiest commercial corridors, with traffic counts approaching 50,000 vehicles per day near the site. The surrounding retail destination includes Sam’s Club, Target, Wegmans, Walmart Supercenter, Harris Teeter, ALDI, Texas Roadhouse, Red Robin, and Chili’s, creating strong regional draw and consistent consumer activity.
The property features a diversified tenant lineup consisting of Pizza Hut, Triangle Tobacco & Vape, Kellsey Nail Salon, Village Dental, and IMAGE Studios. The surrounding five-mile trade area reports median household income of $121,403, average household income of $149,955, and approximately $1.9 billion in annual consumer spending.
Raleigh’s retail market remains exceptionally tight, with availability of approximately 3.0% compared with 4.8% nationally. Asking rents increased 4.1% during the past year versus 1.7% nationally, while approximately 90% of the market’s retail construction pipeline is already pre-leased. These strong fundamentals, combined with the property’s full occupancy, prominent corridor location, affluent demographics, and established tenant mix, position The Shoppes at Caveness Farms as a compelling stabilized retail investment in one of North Carolina’s most dynamic growth markets.