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Sherwin Williams & Godfather's Pizza Parcel 6429 Glenwood Ave 8,504 SF 100% Leased Retail Building Raleigh, NC 27612 $4,796,435 CAD ($564.02 CAD/SF) 6.69% Cap Rate
Investment Highlights
- Stabilized NNN Asset: Sherwin-Williams & Godfather’s Pizza on long-term leases
- Prime Location: High-visibility Glenwood Ave corridor near I-440
- Flexible Sale: Survey recombination completed; buy individually or together
- Strong Income: $234,026 NOI at a 6.16% cap rate
- Redevelopment Upside: 1.726-acre adjacent Parcel B available
Executive Summary
A rare opportunity to acquire a stabilized NNN investment in Raleigh’s premier Glenwood Ave corridor with immediate access to I-440. The property is leased to national tenants Sherwin-Williams and Godfather’s Pizza on market-rate NNN leases, providing passive income.
With an NOI of $234,026 and a 6.16% cap rate, the asset delivers strong in-place cash flow. One lease is newly signed, while the other runs through 2029 with renewal options, ensuring long-term stability.
The adjacent Parcel B (6425 Glenwood Ave), totaling 1.726 acres, is also available with significant redevelopment potential. Survey recombination is completed, and parcels can be purchased individually or together,creating a compelling, time-sensitive investment opportunity.
With an NOI of $234,026 and a 6.16% cap rate, the asset delivers strong in-place cash flow. One lease is newly signed, while the other runs through 2029 with renewal options, ensuring long-term stability.
The adjacent Parcel B (6425 Glenwood Ave), totaling 1.726 acres, is also available with significant redevelopment potential. Survey recombination is completed, and parcels can be purchased individually or together,creating a compelling, time-sensitive investment opportunity.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
8,504 SF
Building Class
C
Year Built
1983
Price
$4,796,435 CAD
Price Per SF
$564.02 CAD
Cap Rate
6.69%
NOI
$320,712 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.20
Lot Size
0.98 AC
Zoning
IX-3 - Industrial Mixed Use
Parking
73 Spaces (8.58 Spaces per 1,000 SF Leased)
Frontage
164’ on Pleasant Valley Rd
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0786.07-67-7550-000 | Improvements Assessment | $1,845,247 CAD |
| Land Assessment | $721,486 CAD | Total Assessment | $2,566,733 CAD |
Property Taxes
Parcel Number
0786.07-67-7550-000
Land Assessment
$721,486 CAD
Improvements Assessment
$1,845,247 CAD
Total Assessment
$2,566,733 CAD
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Sherwin Williams & Godfather's Pizza Parcel | 6429 Glenwood Ave
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