Property profile

2315 Atlantic Ave Raleigh, NC 27604

OFF-MARKET
Distribution centers
Property ID
US53-5679709
127,875 SF 4.7 ac lot Built 1973
Entity Owned Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional retail property, located at 2315 Atlantic Avenue in Wake County, offers a substantial 38,135 square feet of single-tenant space currently available for lease. The building presents a unique opportunity for a business seeking a significant footprint. The space is entirely vacant, allowing for complete customization to suit a tenant's specific needs. While the property includes a 3,000 square foot office area, it requires rehabilitation. The building boasts impressive features including 18-foot ceilings and seven loading docks, making it ideal for businesses requiring ample space and efficient loading capabilities. The lease terms expire on July 31, 2026. The rental rate is $7.95 per square foot, triple net (NNN), with a tenant improvement allowance (TICAM) of $1.55 per square foot. This prime location in Wake County offers excellent visibility and accessibility, making it an attractive proposition for a wide range of retail businesses. The substantial square footage, combined with the loading dock access and high ceilings, makes this property particularly suitable for businesses requiring significant storage or operational space. The upcoming lease expiration date provides an opportunity for a long-term commitment with favorable lease terms. This is a rare opportunity to secure a large, well-located retail space in a thriving market. Interested parties are encouraged to inquire promptly.

Property profile

Verified
Property type Distribution centers
Use group DISTRIBUTION WAREHOUSE
Year built 1973
Total area 127,875 SF
Lot 4.7 ac (204,732 SF)
Zoning code IX-3
APN 1715.18-20-6245 0082744
UPID US53-5679709

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Moving Company

Location

2315 Atlantic Ave Raleigh, NC 27604-1407
Raleigh metro Census 51800 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$15.29M
Comparable Approach Comparable
$10.46M
Blend (final) Blend
$15.65M

Owner & transaction history

since 2025
7 recorded transactions
2025
Price N/A
2025
$20.8M
2025
Price N/A
2021
Price N/A
2017
$5.5M
2017
$22,000
2017
Price N/A

Zoning & alternative use

IX-3 · Raleigh, NC
Zoning description

The IX-3 is intended to provide for a variety of light industrial and manufacturinguses while allowing for retail, service and commercial activity andlimited housing opportunities

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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