Retail Building with High
For Sale
$1,200,000
Pending
143 Technology Drive, Garner, NC 27529
COMMERCIAL - Garner, NC
Property Size5,868 SF
Lot Size0.53 Acres
Days on Market290
Property Features for 143 Technology Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
commercial
Security features
Security System
Interior features
High Ceilings, High Speed Internet, Storage
Exterior features
Lighting
Subdivision
Not in a Subdivision
Lot features
Cleared, Few Trees, Open Lot
Standard status
Pending
Size
5,868 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot A R&S Road Pb49/400 162700
Tax Annual Amount
4371
Legal Description
Lot A R&S Road Pb49/400 162700
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1996
Floors in Building
1
Flooring type
Vinyl, Concrete, Carpet
Building materials
Stucco
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Northside Realty Inc.
(919) 784-0101
Listed By:
Tip Iuliucci · License #255763
(910) 527-0948
Added: Oct 21, 2025
Changed: Aug 4
Last Checked: Aug 6 at 11:06AM
MLS# 10128934
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This retail building at 143 Technology Drive is a single-use commercial structure built in 1996. The interior features include high ceilings, high speed internet, and storage, with flooring consisting of carpet, concrete, and vinyl. Heating is provided by electric heat and a heat pump, and cooling includes central air. The exterior includes lighting, and the building is constructed with stucco and a shingle roof.
The property sits on a 0.53-acre lot and contains 5,868 square feet. It is located adjacent to exit 312 (Veteran’s Parkway, formerly known as 40/42) on I-40 E, and is described as visible to substantial passing traffic. Public water and public sewer services are available.
At closing, the building is expected to be vacant. The remarks also note that an adjacent parcel at 141 Technology Drive is available for purchase either together with this property or separately.
The property sits on a 0.53-acre lot and contains 5,868 square feet. It is located adjacent to exit 312 (Veteran’s Parkway, formerly known as 40/42) on I-40 E, and is described as visible to substantial passing traffic. Public water and public sewer services are available.
At closing, the building is expected to be vacant. The remarks also note that an adjacent parcel at 141 Technology Drive is available for purchase either together with this property or separately.
Key Highlights
- 5,868 SF retail building on a 0.53‑acre lot
- Adjacent to exit 312 on I‑40 E (Veteran’s Parkway formerly known as 40/42)
- High ceilings plus high speed internet and storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$104,118
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,082,360
$2.1M
Cap Rate 7%
$1,487,400
$1.5M
Cap Rate 9%
$1,156,867
$1.2M
Market Conditions
NOI Build-Up for 5,868 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$158.4K $27.00/SF
− Vacancy
−$9.7K −$1.65/SF
EGI
$148.7K $25.35/SF
− OpEx
−$44.6K −$7.60/SF
NOI
$104.1K $17.74/SF
Area
Wake County, NC
Vacancy
6.12%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,082,360
Cap Rate 7%
$1,487,400
Cap Rate 9%
$1,156,867
Alternative Uses
Best Use
Retail
$1.49M
$1.30M – $1.74M
NOI $104,118 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.95M
NOI $117,282 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
Explore this area
Business Placement
Demographics for 27529, NC
54,250
Population
22,089
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
93%
High-School Grad
57.7 sq mi
ZIP Area
940
Density / Sq Mi
$86,426
Median Household Income
$47,686
Median Earnings
$1,379
Median Rent
$325,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail building on a public sewer and water site with high ceilings, central air, and storage.
Where is this retail space located?
The property is located at 143 Technology Drive Garner, NC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5,868 SF retail building on a 0.53‑acre lot; Adjacent to exit 312 on I‑40 E (Veteran’s Parkway formerly known as 40/42); High ceilings plus high speed internet and storage
