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Verizon Wireless | Winston-Salem, NC 2885 Reynolda Rd 3,102 SF Retail Building Winston-Salem, NC 27106 $1,742,000 ($561.57/SF) 6.25% Cap Rate
Investment Highlights
- HIGH VISIBILITY RETAIL CORRIDOR
- OUTPARCEL TO GROCERY-ANCHORED CENTER
- EXPERIENCED OPERATOR
Executive Summary
OUTPARCEL TO GROCERY-ANCHORED CENTER
- Freestanding outparcel to Pine Ridge Plaza, anchored by Harris Teeter and surrounded by national retailers.
HIGH VISIBILITY RETAIL CORRIDOR
- Positioned on Reynolda Road with approximately 27,000 VPD and strong access within a dense retail node.
LOW ABSOLUTE RENT BASIS
- In-place rent of $108,900 provides an accessible price point and supports future renewal economics
EXPERIENCED OPERATOR
- Operated by Cellular Sales, Verizon’s largest authorized retailer, with a large national footprint and long operating history.
AFFLUENT INFILL TRADE AREA
- More than 56,000 residents within 3 miles with average household income of approximately $105,848
- Freestanding outparcel to Pine Ridge Plaza, anchored by Harris Teeter and surrounded by national retailers.
HIGH VISIBILITY RETAIL CORRIDOR
- Positioned on Reynolda Road with approximately 27,000 VPD and strong access within a dense retail node.
LOW ABSOLUTE RENT BASIS
- In-place rent of $108,900 provides an accessible price point and supports future renewal economics
EXPERIENCED OPERATOR
- Operated by Cellular Sales, Verizon’s largest authorized retailer, with a large national footprint and long operating history.
AFFLUENT INFILL TRADE AREA
- More than 56,000 residents within 3 miles with average household income of approximately $105,848
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,102 SF
Building Class
C
Year Built/Renovated
1969/2015
Price
$1,742,000
Price Per SF
$561.57
Cap Rate
6.25%
NOI
$108,900
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.46 AC
Zoning
HB
Parking
34 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Information
- -
- -
- Double Net
- Jan 2031
Verizon Communications originated in 1983 as Bell Atlantic after the AT&T breakup. The company merged with GTE in 2000, forming Verizon Communications. Today, it operates consumer services like wireless networks and Fios fiber-optic internet and TV. Its business segment provides networking, cloud solutions, and security services. Verizon remains one of the largest telecommunications providers in the United States.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Information | - | - | Double Net | Jan 2031 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 6817-64-2060 | Improvements Assessment | $328,600 |
| Land Assessment | $231,000 | Total Assessment | $559,600 |
Property Taxes
Parcel Number
6817-64-2060
Land Assessment
$231,000
Improvements Assessment
$328,600
Total Assessment
$559,600
Contacts
-
David Hoppe -
Mike Lucier -
Eric Suffoletto -
Ben Olmstead -
Ben McCarter -
Connor Kuchman -
Atlantic Capital Partners
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Verizon Wireless | Winston-Salem, NC | 2885 Reynolda Rd
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