547 Benson Rd Garner, NC 27529
- Retail properties
- 5,480 SF
- 0.62 lot acres
Current Use by Public Records
- Bank of America ATM (Drive-thru) / Atm
- Bank of America (with Drive-thru ATM) / Financial Consultant / Financial Planner
Property Details for 547 Benson Rd
- Lot size
- 0.62 lot acres
- Property size
- 5,480 SF
- Property type
- Retail properties
- Property subtype
- Banks
Description
This exceptional investment opportunity presents a fee-simple, Class A, 5,480 square foot retail property in Garner, North Carolina. Currently occupied by Bank of America under an absolute NNN lease with a remaining term of 3.9 years expiring September 29, 2028, this single-tenant property boasts a strong 100% occupancy rate. The lease includes rent bumps in each option, providing a hedge against inflation. Located on a high-traffic section of Benson Road (10,000 vehicles per day) and near US Route 70 (30,000 vehicles per day), this strategically positioned asset benefits from a rapidly growing population. The property's NOI is $65,431, yielding a 5.75% cap rate, and the asking price is $1,137,900 ($207.65 per square foot). The 0.62-acre lot offers significant long-term potential. Bank of America has occupied this site for over 20 years, demonstrating a long-term commitment to the location. The lease is corporately guaranteed by Bank of America, providing additional security. The property is priced below replacement cost, and the current rent is under $12 per square foot. This investment offers a compelling combination of stability, growth potential, and passive income generation in a high-growth area with projected population increases exceeding 10% within a one-mile radius between 2023 and 2028. The property is suitable for a 1031 exchange.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Garner
- County
- Wake
- State
- North Carolina
- Longitude
- -78.6123
- Latitude
- 35.7038
