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1404 New Bern Ave 1,891 SF 100% Leased Retail Building Raleigh, NC 27610 $1,600,000 ($846.11/SF)
Investment Highlights
- Heavy Traffic. NX3 (mixed used residential and retail). Opportunity Zone. DT Zoning.
Executive Summary
Rarely available, prime investment and development opportunity in an unbeatable location approximately 1 mile from Downtown Raleigh. Property offers strong visibility and frontage on New Bern Avenue. Zoned NX-4 (Neighborhood Mixed Use), allowing for a wide range of residential, commercial, and mixed-use development options. Property is three units but currently operating as one unit. Situated within an Opportunity Zone, providing potential tax advantages and alternate zoning opportunities. Currently leased through 2027 on a Triple Net (NNN) lease, offering stable income with minimal landlord responsibilities. Positioned on the fast growing New Bern Corridor and situated at a planned stop for the future Raleigh Bus Rapid Transit (BRT) line, supporting long-term growth and accessibility. Ideal for investors or future owner-operators.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
1,891 SF
Building Class
C
Year Built
1963
Price
$1,600,000
Price Per SF
$846.11
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.28
Lot Size
0.16 AC
Zoning
NX-4 - Neighborhood Mixed-Use. Opportunity Zone. DT Zoning.
Parking
8 Spaces (4.23 Spaces per 1,000 SF Leased)
Frontage
71’ on New Bern Ave
Amenities
- Bus Line
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Studios Southside
- Public Administration
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Studios Southside | Public Administration | - | - | - |
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 1713.06-38-4900-000 | Improvements Assessment | $51,388 |
| Land Assessment | $209,100 | Total Assessment | $260,488 |
Property Taxes
Parcel Number
1713.06-38-4900-000
Land Assessment
$209,100
Improvements Assessment
$51,388
Total Assessment
$260,488
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Coast 2 Coast Real Estate Connections
1404 New Bern Ave
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