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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
The company was formed in 2000 through the merger of Bell Atlantic and GTE, creating a communications business with roots in earlier regional telephone and network operations. Verizon provides wireless service, fixed wireless access, and fiber broadband for consumer customers, while also serving businesses and government agencies. The company's business offerings include data, video, conferencing, corporate networking, security, managed network services, voice services, and internet of things connectivity, giving Verizon a broad role across the communications technology market.
| 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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