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701 Francis King St 51,342 SF 100% Leased Retail Building Greensboro, NC 27410 $13,774,026 CAD ($268.28 CAD/SF) 5% Cap Rate
Investment Highlights
- STRONG LEASE FUNDAMENTALS & LONG OPERATING HISTORY.
- SOUGHT AFTER CORPORATE BACKED GROCER.
- LOW VACANCY RETAIL TRADE AREA.
Executive Summary
SOUGHT AFTER CORPORATE BACKED GROCER
- Harris Teeter currently operates more than 262 stores across the Southeast and portions of the Northeast
- Harris Teeter is owned and backed by Kroger, which carries a credit rating of BBB
- In 2024, Kroger’s total revenue exceeded $147 billion
NEARBY MARKET DRIVERS
- The site is positioned just 0.8 miles north of Guilford College, which has more than 1,100 students and 300 employees
- Less than 5 miles west of the site is Piedmont Triad International Airport, which handles over 1.2 million passengers annually across more than 102,000 flights
- The property is also surrounded by Jefferson Elementary, Guilford Middle, and Guilford High Schools, providing a built-in customer base
LOW VACANCY RETAIL TRADE AREA
- Within a 1-mile radius of the site is more than 430K SF of retail space
- Vacancy rate in that radius is below 1.75%
- Nearby national retailers include: Walmart Neighborhood Market, Sherwin-Williams, Chipotle, Starbucks, and more
EXCELLENT REGIONAL CONNECTIVITY
- Strategically positioned near the intersection of Bryan Blvd and W Friendly Ave
- Easy access to I-73 and I-40 connects the site to the broader Greensboro and Triad region
- More than 45,000 vehicles per day travel within a two mile radius, providing strong visibility and accessibility
HIGH GROWTH GREENSBORO
- Located in the Triad MSA, one of North Carolina’s three largest metropolitan areas
- In 2023, Greensboro witnessed construction values surpassing $1 billion, marking a 37% increase from the previous year
- Projections estimate that Greensboro will welcome an additional 60,000 residents over the next two decades
STRONG LEASE FUNDAMENTALS & LONG OPERATING HISTORY
- Abs. NNN – Ground leased site with zero landlord responsibilities
- This location has operated for almost 20 years, with 3 years remaining and six (6) five-year options
- Includes 5% rental increases during option periods
- Harris Teeter currently operates more than 262 stores across the Southeast and portions of the Northeast
- Harris Teeter is owned and backed by Kroger, which carries a credit rating of BBB
- In 2024, Kroger’s total revenue exceeded $147 billion
NEARBY MARKET DRIVERS
- The site is positioned just 0.8 miles north of Guilford College, which has more than 1,100 students and 300 employees
- Less than 5 miles west of the site is Piedmont Triad International Airport, which handles over 1.2 million passengers annually across more than 102,000 flights
- The property is also surrounded by Jefferson Elementary, Guilford Middle, and Guilford High Schools, providing a built-in customer base
LOW VACANCY RETAIL TRADE AREA
- Within a 1-mile radius of the site is more than 430K SF of retail space
- Vacancy rate in that radius is below 1.75%
- Nearby national retailers include: Walmart Neighborhood Market, Sherwin-Williams, Chipotle, Starbucks, and more
EXCELLENT REGIONAL CONNECTIVITY
- Strategically positioned near the intersection of Bryan Blvd and W Friendly Ave
- Easy access to I-73 and I-40 connects the site to the broader Greensboro and Triad region
- More than 45,000 vehicles per day travel within a two mile radius, providing strong visibility and accessibility
HIGH GROWTH GREENSBORO
- Located in the Triad MSA, one of North Carolina’s three largest metropolitan areas
- In 2023, Greensboro witnessed construction values surpassing $1 billion, marking a 37% increase from the previous year
- Projections estimate that Greensboro will welcome an additional 60,000 residents over the next two decades
STRONG LEASE FUNDAMENTALS & LONG OPERATING HISTORY
- Abs. NNN – Ground leased site with zero landlord responsibilities
- This location has operated for almost 20 years, with 3 years remaining and six (6) five-year options
- Includes 5% rental increases during option periods
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
51,342 SF
Building Class
B
Year Built
1998
Price
$13,774,026 CAD
Price Per SF
$268.28 CAD
Cap Rate
5%
NOI
$688,672 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.20
Lot Size
5.91 AC
Zoning
CHB - Commercial Highway Business
Parking
209 Spaces (4.07 Spaces per 1,000 SF Leased)
Frontage
304’ on Francis King St
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Founded in 1960 by North Carolina grocers W.T. Harris and Willis Teeter, Harris Teeter began as a regional supermarket business and later became part of The Kroger Co. Harris Teeter operates as a supermarket chain with grocery, pharmacy, deli, bakery, meat, seafood, produce, fuel center, and private-label offerings, while also supporting digital ordering, pickup, delivery, and fuel rewards through store and online channels. Harris Teeter maintains a broad presence across the Mid-Atlantic and Southeast through full-service supermarkets and fuel centers. The company continues to expand into new markets and open additional stores.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0075210 | Improvements Assessment | $3,844,176 CAD |
| Land Assessment | $3,276,646 CAD | Total Assessment | $7,120,821 CAD |
Property Taxes
Parcel Number
0075210
Land Assessment
$3,276,646 CAD
Improvements Assessment
$3,844,176 CAD
Total Assessment
$7,120,821 CAD
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701 Francis King St
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