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Pep Boys - Corporate Net Lease 3921 Western Blvd 5,657 SF Retail Building Raleigh, NC 27606 $2,325,000 ($411.00/SF) 6.69% Cap Rate
Investment Highlights
- Corporate Pep Boys net lease
- Rent increases to $155,520 Nov. 2026 (6.10% cap rate)
- 242,000+ residents and $105,500+ average income within 5 miles
- 6 lease years remaining | 8% rent increases every 5 years
- 3.5 miles from downtown Raleigh | 0.5 mile from North Carolina Stat University
- Very diverse economy with strong tech sector
Executive Summary
Sage Capital Partners is pleased to present this Pep Boys investment property located in Raleigh, NC. Constructed in 2015 and remodeled in 2021, Pep Boys operates this location under a 10-year NN corporate lease with 6 years remaining. The lease agreement features 8% rent increases every five years, and three 5-year renewal options. The rent increases from $144,000 to $155,520 in November 2026.
This Pep Boys is located in the heart of Raleigh, only 3.5 miles from downtown and just down the street from North Carolina State University. The property is surrounded by a thriving technology sector, many national retailers, and is conveniently accessed from Interstate 440.
This location benefits from high AADT of 29,500 on Western Boulevard and over 242,000 residents within 5 miles.
Listed in Partnership with:
Brian Brockman – Broker
Bang Realty-North Carolina Inc
License #: 298998
This Pep Boys is located in the heart of Raleigh, only 3.5 miles from downtown and just down the street from North Carolina State University. The property is surrounded by a thriving technology sector, many national retailers, and is conveniently accessed from Interstate 440.
This location benefits from high AADT of 29,500 on Western Boulevard and over 242,000 residents within 5 miles.
Listed in Partnership with:
Brian Brockman – Broker
Bang Realty-North Carolina Inc
License #: 298998
Data Room Click Here to Access
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
5,657 SF
Year Built/Renovated
2015/2021
Price
$2,325,000
Price Per SF
$411.00
Cap Rate
6.69%
NOI
$155,520
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
0.51 AC
Zoning
NB - Neighborhood Business
Parking
22 Spaces (3.89 Spaces per 1,000 SF Leased)
Frontage
40’ on Western Blvd
Amenities
- Bus Line
- Pylon Sign
- Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0794.17-10-4309-000 | Improvements Assessment | $1,700,139 |
| Land Assessment | $666,480 | Total Assessment | $2,366,619 |
Property Taxes
Parcel Number
0794.17-10-4309-000
Land Assessment
$666,480
Improvements Assessment
$1,700,139
Total Assessment
$2,366,619
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Pep Boys - Corporate Net Lease | 3921 Western Blvd
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