Upfit Catering Kitchen
1129 Corporation Pkwy Raleigh, NC 27610
For Sale
Contact for pricing
Two combined 1,200 SF units are fully upfit with a commercial hood, grease trap, sinks, and walk-in refrigeration.
Property Size2,400 SF
Price / SF$414.58
Days on Market115
Property Features for 1129 Corporation Pkwy
General Information
- Standard status
- Active
- Size
- 2,400 SF
- Property subtype
- Multifamily
Listing Agency:
Boyd and Associates
Listed By:
William Boyd · License #214280
Source:
Crexi
Added: Mar 31
Changed: Jul 22
Last Checked: Jul 22 at 2:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Boyd and Associates
Investment Insights
Based on property information with market context.
This offering consists of two 1,200 SF units combined for a total of 2,400 SF. The space was formerly operated as a catering facility and is fully upfit with a hood, grease trap, sinks, and substantial prep space. It also includes a large walk-in refrigerator/freezer and a roll-up door, supporting back-of-house food preparation and receiving.
The property is part of a condominium association, with condo fees currently stated as $550 per month.
The owner prefers a sale, though a lease may be considered for a highly qualified tenant.
The property is part of a condominium association, with condo fees currently stated as $550 per month.
The owner prefers a sale, though a lease may be considered for a highly qualified tenant.
Key Highlights
- 2,400 SF total space made from two 1,200 SF units (combined for sale)
- Fully upfit catering facility with commercial hood and grease trap
- Includes sinks and lots of prep space
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.1k | $28.80 |
| − Vacancy | −$3.5k | −$1.44 |
| EGI | $65.7k | $27.36 |
| − OpEx | −$16.4k | −$6.84 |
| NOI | $49.2k | $20.52 |
2,400 SF · lease $28.80/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$703.5K
$615.6K – $820.8K
NOI $49,248 @ 7.0% cap · market cap 4.95%
Second Best
Industrial
$316.0K
$276.5K – $368.7K
NOI $22,119 @ 7.0% cap · market cap 2.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
HUBB Kitchens
Take-out & Catering
AJ’s Cheesecakes
Bakery
1-800 WATER DAMAGE ...
Hardware & Home Improvement
RDU AFRICAN AND CARIBBEAN ...
Grocery & Convenience Store
American Postal Workers ...
Advocacy Group
FAQs
What type of property is this?
Commercial kitchen - Two combined 1,200 SF units are fully upfit with a commercial hood, grease trap, sinks, and walk-in refrigeration.
Where is this commercial kitchen located?
The property is located at 1129 Corporation Pkwy Raleigh, NC.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 2,400 SF total space made from two 1,200 SF units (combined for sale); Fully upfit catering facility with commercial hood and grease trap; Includes sinks and lots of prep space
