Corporate-Backed NNN Retail
For Sale
$1,888,000
3110 Garner Rd, Raleigh, NC 27610
Modern single-tenant retail facility with absolute corporate lease support and flexible mixed-use zoning.
Property Size8,320 SF
Price / SF$226.92
Days on Market12
Property Features for 3110 Garner Rd
General Information
Standard status
Active
Size
8,320 SF
Building Details
Year Built
2017
Listing Agency:
Maher Commercial Realty
(310) 464-1453
Listed By:
Oron Maher · License #01299093
Source:
Myfabuloushome
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 25 at 5:13AM
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 Maher Commercial Realty
Investment Insights
Based on property information with market context.
This single-tenant NNN property includes an 8,320-square-foot retail building completed in 2017 for tenant-specific trade-dress requirements. The facility is fully leased to Family Dollar Stores of North Carolina, Inc., with an absolute corporate guarantee from Family Dollar Stores, Inc. The building occupies an 85,378-square-foot corner parcel, providing a substantial land component alongside the existing retail improvement.
Located at 3110 Garner Road in Raleigh, North Carolina, the property carries CX-3 Commercial Mixed-Use zoning. The combination of a modern building, a corporate-backed lease structure, and a nearly two-acre site creates a straightforward retail asset for a buyer evaluating single-tenant commercial real estate or a 1031 exchange.
Located at 3110 Garner Road in Raleigh, North Carolina, the property carries CX-3 Commercial Mixed-Use zoning. The combination of a modern building, a corporate-backed lease structure, and a nearly two-acre site creates a straightforward retail asset for a buyer evaluating single-tenant commercial real estate or a 1031 exchange.
Key Highlights
- 8,320 SF retail building completed in 2017
- 100% leased to Family Dollar Stores of North Carolina, Inc.
- Absolute corporate guarantee from Family Dollar Stores, Inc.
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
$147,624
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
7.82%
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%
$2,952,480
$3.0M
Cap Rate 7%
$2,108,914
$2.1M
Cap Rate 9%
$1,640,267
$1.6M
Market Conditions
NOI Build-Up for 8,320 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
$224.6K $27.00/SF
− Vacancy
−$13.7K −$1.65/SF
EGI
$210.9K $25.35/SF
− OpEx
−$63.3K −$7.60/SF
NOI
$147.6K $17.74/SF
Area
ZIP 27610
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%
$2,952,480
Cap Rate 7%
$2,108,914
Cap Rate 9%
$1,640,267
Alternative Uses
Best Use
Retail
$2.11M
$1.85M – $2.46M
NOI $147,624 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.44M
$2.13M – $2.85M
NOI $170,726 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
152
Businesses Nearby
Explore this area
Business Placement
Demographics for 27610, NC
75,164
Population
29,245
Households
2.6
Avg Household Size
34
Median Age
28%
College-Educated
86%
High-School Grad
45.2 sq mi
ZIP Area
1,663
Density / Sq Mi
$66,245
Median Household Income
$37,582
Median Earnings
$1,319
Median Rent
$260,300
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?
NNN property - Modern single-tenant retail facility with absolute corporate lease support and flexible mixed-use zoning.
Where is this nnn property located?
The property is located at 3110 Garner Rd Raleigh, NC.
What is the asking price?
The asking price for this property is $1,888,000.
What are key features of this property?
This property features: 8,320 SF retail building completed in 2017; 100% leased to Family Dollar Stores of North Carolina, Inc.; Absolute corporate guarantee from Family Dollar Stores, Inc.
