1400 Timber DrGarner, NC 27529

Property Details for 1400 Timber Dr

Year built

2003

Construction

FRAME

Lot size

3.99 AC

Property size (Sq ft)

30,054 SF

Zone code

CMX

Property type

Retail properties

Property subtype

Other individual retail properties

APN

1720.15-64-1421 0304586

APU

1720156414210304586

Description

This exceptional investment opportunity presents a fee-simple ownership of a 30,054 square foot, Class A fitness center in Garner, NC (Raleigh MSA). The property, built in 2003 and renovated in 2024, sits on a 3.99-acre lot and boasts a two-story building with 100% occupancy. A strong corporate guarantee backs the absolute NNN lease with a prominent tenant, Fit4Life, currently operating 18 locations in the region. The lease commenced August 31, 2025, and expires August 30, 2035, offering a substantial 10-year remaining term with two 5-year renewal options. Rent escalations are built in, with a 10% increase every five years, including option periods. The property generates a significant Net Operating Income (NOI) of $540,972, resulting in an attractive 7.50% cap rate. The strategic location within a thriving commercial node, near major retailers like Target, Burlington, and PetSmart, and surrounded by over 1,500 multifamily units, ensures strong demand and future growth potential. The property enjoys excellent accessibility, with easy access from Timber Drive East and proximity to major highways. This investment offers a compelling combination of strong lease fundamentals, a prime location in a high-growth market, and a proven tenant, making it an ideal addition to any portfolio. The asking price is $7,213,000.

• CAP approach

  CAP return

  Valuation

  6%

  $10,708,817

  6.5%

  $9,885,062

  7%

  $9,178,986

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,048,970

  Geo Method

  $17,384,460

• Alternative Use

  Use

  Valuation

  Residential

  $8,338,419

  Hospitality

  $7,637,947

  Educational

  $6,354,682

  Medical

  $6,573,230

  Retail

  $9,885,062

Location Insight

City

Garner

County

Wake

State

North Carolina

Latitude

35.6847

Longitude

-78.5753

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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