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    FOR LEASE
    Distribution centers

    2114 Atlantic Ave, Raleigh, NC 27604

    59,245 SF 6.77 ac lot Built 1957
    Entity Owned 3-yr Hold Absentee Owner Free & Clear
    Property ID
    US53-0039246
    Property summary
    AI-generated overview

    This exceptional Raleigh industrial property, located at 2114 Atlantic Avenue, offers 157,093 square feet of warehouse space in two single-story buildings. The property sits on 6.77 acres of land and is classified as Class B. Built in 1957 and renovated in 1965, it features a 20-foot ceiling height, making it ideal for various industrial uses. The property boasts 18 loading docks with 18 dock-high doors, along with one drive-in door, and ample parking with 60 spaces. Power is provided by four 120/208 3-phase and one 277/408 3-phase systems. The minimum divisible space is 15,453 square feet, while the maximum contiguous space is the entire 157,093 square feet, offering flexibility for single or multiple tenants. The property is zoned CX-20 & IX-3 and is conveniently located near Atlantic Avenue and East Whitaker Mill Road in Raleigh, NC 27604. Annual property taxes are $0.45 per square foot. The property is available for occupancy October 1, 2024. This is a rare opportunity for a large-scale industrial space within the beltline, adjacent to Raleigh's newest entertainment district.

    Property profile
    Verified
    Property type Distribution centers
    Use group DISTRIBUTION WAREHOUSE
    Year built 1957
    Construction CONCRETE
    Total area 59,245 SF
    Lot 6.77 ac (294,901 SF)
    Zoning code CX-20
    APN 1714.05-28-3644 0039924
    UPID US53-0039246
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Kitchen Cabinet Distributors Hardware & Home Improvement Furniture & Home Goods
    • Performance Contracting Inc Construction Company General Contractor
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    $7.09M
    Comparable Approach Comparable
    $6.22M
    Blend (final) Blend
    $8.44M
    Owner & transaction history
    Kitchen Cabinet Designers LLC · 3 yrs held
    Kitchen Cabinet Designers LLC
    since 2022
    6 recorded transactions
    2022
    2019
    2019
    $9.8M
    2016
    $7.0M
    2006
    $3.9M
    1969
    Zoning & alternative use
    CX-20 · Raleigh, NC
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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