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360 Ashville Ave 360 Ashville Ave 5,625 SF 100% Leased Retail Building Cary, NC 27518 $2,282,403 ($405.76/SF) 6.20% Cap Rate
Investment Highlights
- Attractively priced single-tenant net lease at $2,282,403
- South Cary location near Regency Parkway/US-1 — strong residential density and commuter access, minutes from WakeMed and Waverly Place
- E-commerce-resistant, essential-service use — needs-based automotive service insulated from online retail
- NNN lease through 2033 with 3% annual escalations — ~7 years remaining plus three 5-year renewal options
- PE-backed tenant platform — Atlantic Tire operates within Goodturn Tire & Auto (~70 locations / ~35 brands)
- High-income, highly educated trade area — average household incomes near $200K within 1 mile and strong residential rooftops
Executive Summary
A 5,625 SF Atlantic Tire location on a 1.00-acre parcel, producing $141,509 in base rent effective July 17, 2026 ($25.16/SF). Priced at $2,282,403 at a 6.20% CAP rate, the asset offers contractual 3% annual rent growth and long-term tenancy in one of the Triangle’s most sought-after suburban submarkets. The property’s compact, efficient footprint supports strong rent coverage and operational performance.
Positioned within a densely populated and rapidly expanding pocket of Cary, the property offers strong neighborhood connectivity and commuter access, with ±6,600 VPD on Regency Parkway and adjacent US-1 carrying approximately 15,500 VPD. The surrounding trade area draws on Cary’s deep employment base, top-rated schools, and quality-of-life appeal, all of which sustain consistent demand for convenience-oriented automotive services. The location pairs everyday accessibility with the durability of a mature, built-out market.
Positioned within a densely populated and rapidly expanding pocket of Cary, the property offers strong neighborhood connectivity and commuter access, with ±6,600 VPD on Regency Parkway and adjacent US-1 carrying approximately 15,500 VPD. The surrounding trade area draws on Cary’s deep employment base, top-rated schools, and quality-of-life appeal, all of which sustain consistent demand for convenience-oriented automotive services. The location pairs everyday accessibility with the durability of a mature, built-out market.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
5,625 SF
Building Class
C
Year Built
1990
Price
$2,282,403
Price Per SF
$405.76
Cap Rate
6.20%
NOI
$141,509
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Lot Size
1.00 AC
Zoning
GCCU - GCCU (General Commercial – Conditional Use, Town of Cary)
Parking
23 Spaces (5.32 Spaces per 1,000 SF Leased)
Frontage
45’ on Ashville Ave
Amenities
- Bus Line
- Signage
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0762.14-33-2751-000 | Improvements Assessment | $980,262 |
| Land Assessment | $1,019,304 | Total Assessment | $1,999,566 |
Property Taxes
Parcel Number
0762.14-33-2751-000
Land Assessment
$1,019,304
Improvements Assessment
$980,262
Total Assessment
$1,999,566
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