Property summary
This exceptional 2.11-acre mixed-use property at 6425 Glenwood Avenue in Raleigh, NC, presents a compelling investment opportunity. The 13,104 square foot site boasts two established national tenants on NNN leases, extending through 2029 with renewal options, ensuring consistent income. One tenant has occupied the space for over 40 years, demonstrating long-term stability and market viability. A significant component of the property is a 5,000 square foot, six-bay auto repair shop, a community fixture for 44 years, offering ample space and high visibility from Glenwood Avenue. This building presents potential for modernization, repurposing, or continued operation. The property also includes vacant land, ideal for constructing an additional 5,000 square foot building, allowing for expansion or the development of new ventures. An existing easement behind the auto repair shop provides convenient potential vehicle access. The property's prime location in Northwest Raleigh offers excellent visibility and accessibility, making it an attractive investment with significant upside potential for future growth and redevelopment. The asking price is $5,900,000.
Property profile
VerifiedCap rate & NOI
Current use
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Auto Repair Shop
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
IX-3 · Raleigh, NCThe 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
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for IX-3 in Raleigh, NC.
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