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    1857 Princeton Kenly Rd Kenly, NC 27542

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    1857 Princeton Kenly Rd Kenly, NC 27542

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    • Grocery and convenience stores
    • 4,867 SF
    • 9.61 lot acres
    Off-Market
    Property ID
    US53-5466966
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Grocery and convenience stores

    Property Details for 1857 Princeton Kenly Rd

    Year built
    2024
    Lot size
    9.61 lot acres
    Property size
    4,867 SF
    Property type
    Grocery and convenience stores
    Property subtype
    Gas stations

    Description

    This exceptional investment opportunity presents a brand-new, 2024-constructed 7-Eleven convenience store and gas station in Kenly, North Carolina. Located on a substantial 9.61-acre lot at 1857 Princeton Kenly Rd, 27542, this property boasts a large format design, including a Raise the Roost restaurant, and features 21 gas pumps, with dedicated diesel pumps to cater to commercial vehicles. The property benefits from its strategic location off Interstate 95, a major transportation artery, placing it within easy reach of significant population centers. The current tenant, 7-Eleven, holds a 15-year absolute NNN lease with four 5-year renewal options, providing long-term stability and predictable cash flow. The lease includes a 10% rent increase every five years during both the primary term and option periods, offering protection against inflation. The property's strong financial performance is reflected in its $10,180,952 asking price, 5.25% cap rate, and a substantial net operating income (NOI) of $534,500. With 4,867 square feet of space and 100% occupancy, this is a truly exceptional, management-free investment opportunity. The corporate guarantee provides added security, and the property's size and location make it an ideal investment for passive investors seeking strong returns. All taxes, insurance, and common area maintenance are the responsibility of the tenant.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Kenly
    County
    Johnston
    State
    North Carolina
    Longitude
    -78.14488725672
    Latitude
    35.573908027257

    Comparable in this City

    • $137,500
      2,200 SF

      Historic Building in Downtown Kenly

      Historic building with retail and office space for sale.
      110 W 2Nd St, Kenly, NC 27542
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    • New
      $320,000
      4.00 Acres

      Kenly, NC Land Bundle

      Four adjoining industrial lots for sale in Kenly, North Carolina.
      200 S Englewood Dr, Kenly, NC 27542
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    • $273,675
      36.49 Acres

      Timberland Investment Opportunity Near Kenly

      36.49 acres of timberland with recreational and investment potential.
      S Fred Cir, Kenly, NC 27542
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    • $360,000

      35 Acres Timber and Crop

      35 acres of timber and crop farming area for sale.
      959 Scott Rd, Kenly, NC 27542
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    • Contact for pricing

      Land with River and Rail

      Unique land tract with river and rail access.
      Richardson Dr, Kenly, NC 27542
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    • $445,000
      13.89 Acres

      Unrestricted Land Near Kenly, NC

      13.89 acres of unrestricted, level land near I-95 and Hwy 301.
      124 Cuddington Rd, Kenly, NC 27542
      View Details

    Similar Nearby for Sale

    • $137,500
      2,200 SF

      Historic Building in Downtown Kenly

      Historic building with retail and office space for sale.
      110 W 2Nd St, Kenly, NC 27542
      View Details
    • New
      $320,000
      4.00 Acres

      Kenly, NC Land Bundle

      Four adjoining industrial lots for sale in Kenly, North Carolina.
      200 S Englewood Dr, Kenly, NC 27542
      View Details
    • $273,675
      36.49 Acres

      Timberland Investment Opportunity Near Kenly

      36.49 acres of timberland with recreational and investment potential.
      S Fred Cir, Kenly, NC 27542
      View Details
    • $360,000

      35 Acres Timber and Crop

      35 acres of timber and crop farming area for sale.
      959 Scott Rd, Kenly, NC 27542
      View Details
    • Contact for pricing

      Land with River and Rail

      Unique land tract with river and rail access.
      Richardson Dr, Kenly, NC 27542
      View Details
    • $445,000
      13.89 Acres

      Unrestricted Land Near Kenly, NC

      13.89 acres of unrestricted, level land near I-95 and Hwy 301.
      124 Cuddington Rd, Kenly, NC 27542
      View Details
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    Kenly, NC 27542
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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    1857 Princeton Kenly Rd, Kenly, NC, 27542

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