505-537 Plaza Circle Garner, NC 27529

Garner Plaza is a 57,863 square foot neighborhood retail center, situated along U.S. Highway 70 in Garner, North Carolina, within the Raleigh MSA. The property is 100% leased and positioned along a primary retail corridor experiencing traffic counts exceeding 40,000 vehicles per day. The tenant mix is service-oriented, catering to daily needs, which supports consistent occupancy and consumer traffic. The majority of leases are structured as NNN, providing predictable expense recoveries and stable net income, while staggered lease expirations reduce rollover risk. Current rents average approximately $13.37 per square foot, which is an estimated 31% discount to market rents of $17.82 per square foot. The location is within one of the Triangle's fastest-growing retail corridors, supported by strong demographic growth and major infrastructure investment. The trade area encompasses over 125,000 residents within a five-mile radius, with a projected population growth of approximately 13% and household incomes expected to increase 18% to around $115,000. Additional demand drivers include proximity to Downtown Raleigh, Research Triangle Park (with over 60,000 employees), WakeMed's planned 195-bed hospital, the NC-540 expansion, and the nearby 225-acre E-District mixed-use development. The asset offers stable in-place income with meaningful embedded NOI growth potential. As leases roll to market, this spread supports projected NOI growth of approximately 25% over a five-year hold period without requiring significant capital investment.