1880 Broad StFuquay-Varina, NC 27526

Property Details for 1880 Broad St

Year built

2022

Construction

BRICK

Lot size

7.38 AC

Property size (Sq ft)

7,561 SF

Zone code

GC

Property type

Retail properties

Property subtype

Retail space

APN

0657.02-76-7859 0361287

APU

657027678590361287

Description

Lane Professional Park offers exceptional office and retail opportunities in the rapidly growing Fuquay-Varina area. This brand-new, six-building development, completed in 2024, features single-story buildings totaling 67,350 square feet of space. Units range from 1,800 to a maximum contiguous 9,805 square feet, ideal for a variety of businesses. The property boasts a convenient location on NC 55 Hwy, providing easy access to both Holly Springs and Fuquay-Varina, with excellent visibility and multiple points of ingress/egress on NC 55 Hwy and Old Powell Road. The development benefits from a high traffic count of 30,000 vehicles per day and is surrounded by significant residential growth, with over 3,500 new homes and apartments approved or under construction nearby. The property offers ample parking with a 4.0 per 1,000 square foot ratio. Available spaces are suitable for traditional office, medical office, and retail uses. Lease terms are flexible, ranging from 5 to 10 years, with tenant allowances for build-out. Office lease rates are $27.50 per square foot per year, NNN, and retail lease rates are $29.50 per square foot per year, NNN. The sale price is available upon request. The estimated total operating expense is $4.25 per square foot per year. Signage opportunities are also available. Currently, 41,361 square feet of space is vacant.

• CAP approach

  CAP return

  Valuation

  6%

  $2,809,150

  6.5%

  $2,593,062

  7%

  $2,407,843

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,691,382

  Geo Method

  $4,373,591

• Alternative Use

  Use

  Valuation

  Residential

  $2,187,345

  Hospitality

  $2,003,596

  Educational

  $1,666,968

  Medical

  $1,724,298

  Retail

  $2,593,062

Location Insight

City

Fuquay Varina

County

Wake

State

North Carolina

Latitude

35.6097

Longitude

-78.8057

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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