Unanchored Multitenant Shopping
For Sale
$3,712,288
3132 Calvary Drive, Raleigh, NC 27604
Fully occupied retail property with an established rental history and multiple tenants.
Property Size13,000 SF
Days on Market48
Property Features for 3132 Calvary Drive
General Information
Standard status
Active
Size
13,000 SF
Property subtype
Retail
Building Details
Building Size
13,000 SF
Listed By:
John Wright Jr., CCIM
(864) 934-5261
Source:
Mccoywright
Added: Aug 21
Changed: Sep 14
Last Checked: Oct 5 at 5:08PM
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 John Wright Jr., CCIM
Investment Insights
Based on property information with market context.
This unanchored shopping center contains multiple retail tenants and is reported as 100% occupied. The property carries a 7.25% cap rate and has a documented strong rental history.
Located at 3132 Calvary Drive in Raleigh, the center sits just off Capital Boulevard, where traffic is reported at 45,569 VPD. National retail operators surround the property, adding established commercial context to the immediate area.
Located at 3132 Calvary Drive in Raleigh, the center sits just off Capital Boulevard, where traffic is reported at 45,569 VPD. National retail operators surround the property, adding established commercial context to the immediate area.
Key Highlights
- Unanchored shopping center with multiple retail tenants
- 100% occupied with a strong rental history
- 7.25% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$217,336
Cap Rate
5.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,346,720
$4.3M
Cap Rate 7%
$3,104,800
$3.1M
Cap Rate 9%
$2,414,844
$2.4M
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$330.7K $25.44/SF
− Vacancy
−$20.2K −$1.56/SF
EGI
$310.5K $23.88/SF
− OpEx
−$93.1K −$7.16/SF
NOI
$217.3K $16.72/SF
Area
Raleigh, NC
Vacancy
6.12%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,346,720
Cap Rate 7%
$3,104,800
Cap Rate 9%
$2,414,844
Alternative Uses
Best Use
Retail
$3.10M
$2.72M – $3.62M
NOI $217,336 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.57M
$3.13M – $4.17M
NOI $250,088 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
593
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 27604, NC
46,076
Population
20,828
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
89%
High-School Grad
19.1 sq mi
ZIP Area
2,412
Density / Sq Mi
$72,793
Median Household Income
$44,471
Median Earnings
$1,386
Median Rent
$293,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Shopping center - Fully occupied retail property with an established rental history and multiple tenants.
Where is this shopping center located?
The property is located at 3132 Calvary Drive Raleigh, NC.
What is the asking price?
The asking price for this property is $3,712,288.
What are key features of this property?
This property features: Unanchored shopping center with multiple retail tenants; 100% occupied with a strong rental history; 7.25% cap rate
