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    400 North St Raleigh, NC 27603

    Sponsored
    For Sale
    $2,071,000

    Prime location, high NOI, long-term lease.

    Property size:
    4,808 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Class A retail property, located at 400 W North St, Raleigh, NC 27603, presents a compelling investment opportunity. The 4,808 square foot space, currently operating as a bar and restaurant, boasts a strong net lease with a remaining term of 10 years, commencing January 1, 2024, and expiring October 31, 2034. The property features a 6.25% cap rate and a substantial net operating income (NOI) of $129,432, yielding a price per square foot of $430.74. Originally built in 2008, the property underwent renovations in 2014 and again in 2024, including a kitchen addition. Situated in the vibrant Glenwood South area, adjacent to the rapidly developing Smoky Hollow project, this single-tenancy property benefits from high visibility and foot traffic. The property is a ground floor condominium unit (unit 120) within a larger building containing 170 residential units. This is a 1031 exchange eligible property, offering significant tax advantages for qualified investors. The property's strong tenant occupancy of 100% and long-term lease provide exceptional stability and predictable cash flow. This is an ideal investment for those seeking a high-performing asset in a prime Raleigh location. The asking price is $2,071,000.

    Property Features for 400 North St

    General Information

    Property type
    Individual retail properties
    Square Feet
    4,808 SF
    Class
    A

    Building Details

    Year Built
    2008

    HighLights

    • Class A retail property at 400 W North St, Raleigh, NC 27603.
    • 4,808 SF, bar/restaurant tenant, 10‑year net lease (1/1/2024 - 10/31/2034).
    • 6.25% cap rate, $129,432 NOI, $430.74/SF price.
    • Ground floor condo unit (Unit 120) in a 170‑unit building; built 2008, renovated 2014 & 2024 (kitchen addition).
    • Glenwood South location, adjacent to Smoky Hollow; high visibility & foot traffic.
    • 1031 exchange eligible; 100% occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    400 W North ... Condominium Complex Spear Consultants Ltd Business Management Consultant Flour and Barrel Restaurant Brookwood Capital Partners Real Estate Developer Family Business USA Business Management Consultant

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.645088478367
    Latitude
    35.784829843459

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    FAQs

    What type of property is this?
    Individual retail property - Prime location, high NOI, long-term lease.
    Where is this individual retail property located?
    The property is located at 400 North St Raleigh, NC.
    What is the asking price?
    The asking price for this property is $2,071,000.
    What are key features of this property?
    This property features: Class A retail property at 400 W North St, Raleigh, NC 27603.; 4,808 SF, bar/restaurant tenant, 10-year net lease (1/1/2024 - 10/31/2034).; 6.25% cap rate, $129,432 NOI, $430.74/SF price.
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    400 North St Raleigh, NC 27603
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    Raleigh, NC 27603
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    400 North St Raleigh, NC 27603
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