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3001 Wakefield Crossing Dr 6,420 SF Retail Building Raleigh, NC 27614 $3,635,477 CAD ($566.27 CAD/SF) 6.20% Cap Rate
Investment Highlights
- Significant 2.35-acre land position — a generous parcel offering meaningful underlying real estate value and long-term flexibility
- NNN lease through 2033 with 3% annual escalations — ~7 years remaining plus three 5-year renewal options
- PE-backed tenant platform — Atlantic Tire operates within Goodturn Tire & Auto (~70 locations / ~35 brands)
- High-traffic Falls of Neuse Road frontage — ±26,500 VPD with a Community Mixed Use future land use designation
- 2018 construction — a modern, well-maintained facility offering lower anticipated capital expenditure and strong physical appeal
- E-commerce-resistant, essential-service use — needs-based automotive service insulated from online retail
Executive Summary
A 6,420 SF automotive service facility on a 2.35-acre parcel, generating $161,505 in base rent effective July 17, 2026 ($25.16/SF). Offered at $2,604,919, a 6.20% CAP rate, the asset combines stable in-place income with 3% annual escalations and meaningful underlying land value. Its location within the master-planned Wakefield community reinforces long-term durability and tenant performance.
The property anchors North Raleigh’s Wakefield submarket along Falls of Neuse Road, which carries approximately 26,500 vehicles per day — the highest traffic count in the portfolio. Wakefield is a prominent master-planned community known for residential density, affluent demographics, and proximity to major commuter routes including US 1 and I-540. Sustained population growth, retail expansion, and a Community Mixed Use future land use designation continue to reinforce the corridor’s long-term trajectory.
The property anchors North Raleigh’s Wakefield submarket along Falls of Neuse Road, which carries approximately 26,500 vehicles per day — the highest traffic count in the portfolio. Wakefield is a prominent master-planned community known for residential density, affluent demographics, and proximity to major commuter routes including US 1 and I-540. Sustained population growth, retail expansion, and a Community Mixed Use future land use designation continue to reinforce the corridor’s long-term trajectory.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
6,420 SF
Building Class
C
Year Built
2018
Price
$3,635,477 CAD
Price Per SF
$566.27 CAD
Cap Rate
6.20%
NOI
$225,400 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
2.35 AC
Parking
40 Spaces (6.83 Spaces per 1,000 SF Leased)
Frontage
153’ on Wakefield Crossing Drive
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1739.01-18-3751-000 | Improvements Assessment | $2,862,786 CAD |
| Land Assessment | $1,371,643 CAD | Total Assessment | $4,234,428 CAD |
Property Taxes
Parcel Number
1739.01-18-3751-000
Land Assessment
$1,371,643 CAD
Improvements Assessment
$2,862,786 CAD
Total Assessment
$4,234,428 CAD
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3001 Wakefield Crossing Dr
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