Commercial Building in Developing
For Sale
$1,200,000
Pending
143 Technology, Garner, NC 27529
Commercial building in a rapidly developing area available for purchase.
Property Size5,868 SF
Lot Size0.53 Acres
Days on Market302
Property Features for 143 Technology
General Information
Standard status
Pending
Size
5,868 SF
Lot size
0.53 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,371
Amenities
Central air
Carpet Flooring
Central Air Cooling
Cleared
Concrete Flooring
Electric Cooling
Electric Heating
Few Trees
Heat Pump Heating
Lighting
Luxury Vinyl Flooring
Open Lot
Shingle Roof
Building Details
Year Built
1996
Listing Agency:
NORTHSIDE REALTY INC.
(919) 784-0101
Listed By:
TIP IULIUCCI · License #255763
Source:
Corcoran
Added: Oct 21, 2025
Changed: Aug 8
Last Checked: Jul 23 at 8:45AM
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 NORTHSIDE REALTY INC.
Investment Insights
Based on property information with market context.
This commercial building, currently housing a lighting store, presents a purchase opportunity in a rapidly developing area. The building will be vacant at closing. Situated adjacent to exit 312 (Veteran's Parkway, formerly known as 40/42) on I-40 E, the property benefits from high visibility to passing vehicles. The lot spans over 1/2 an acre and is located near a variety of businesses. The property size is 5868 square feet. The adjacent parcel at 141 Technology Drive is also available for purchase, and both parcels can be purchased together or separately. The property is located in Garner, NC.
Key Highlights
- High‑visibility location adjacent to I‑40 E (Exit 312) with significant daily traffic.
- Commercial building in a rapidly developing area.
- Building will be vacant at closing.
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
Location Intelligence
Trade Area within ½ mile
758
Businesses Nearby
Well-served
Demand for This Use
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.
Similar Off Market Nearby
- Cleveland Flowers & Gifts Inc — 5533 hwy 42 w, b44, garner, nc 27529
Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building in a rapidly developing area available for purchase.
Where is this storefront property located?
The property is located at 143 Technology 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: High‑visibility location adjacent to I‑40 E (Exit 312) with significant daily traffic.; Commercial building in a rapidly developing area.; Building will be vacant at closing.
