Property profile

900 Franklin St Wake Forest, NC 27587

OFF-MARKET
Office buildings
Property ID
US53-0726747
15,382 SF 1.09 ac lot Built 2009
Entity Owned 2-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional single-tenant retail or office space, located at 900 S Franklin Street, Suite 202 in Wake Forest, Wake County, presents a fantastic leasing opportunity. Previously occupied by a long-standing yoga studio, this space is ideally suited for a variety of businesses. Its convenient location off Highway 98 Bypass offers easy access and high visibility. The property benefits from its proximity to a vibrant mix of restaurants, coffee shops, and specialty stores, all within walking distance. The surrounding area boasts numerous large residential developments, including Heritage and Holding Village, ensuring a strong customer base. The building's diverse tenant mix includes a pharmacy, dentist, physical therapy clinic, and karate studio, creating a thriving and complementary business environment. The lease rate is $22.00 per square foot, triple net (NNN), with a tenant improvement allowance (TICAM) of $4.50 per square foot. This presents a unique chance to establish or expand your business in a highly desirable and well-established Wake Forest location. The space is ready for immediate occupancy and offers a turnkey solution for a variety of businesses. Don't miss this opportunity to secure a prime location in a rapidly growing community.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 2009
Construction BRICK
Total area 15,382 SF
Lot 1.09 ac (47,480 SF)
Zoning code RMX
APN 1840.10-46-6867 0363425
UPID US53-0726747

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
  • Gym & Fitness Center
  • Training Center Sports School
  • Department Store
  • Pharmacy
  • Pharmacy

Location

900 Franklin St Wake Forest, NC 27587-2799
Wake Forest metro Census 54224 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.33M
Blend (final) Blend
$2.60M

Owner & transaction history

since 2024
Last sale
$2.6M
7 recorded transactions
2024
$250,000
2021
$2.6M
2020
Price N/A
2017
Price N/A
2012
Price N/A
2011
$162,000
2008
Price N/A

Zoning & alternative use

RMX · Wake Forest, NC
Zoning description

The Residential Mixed-Use District is established to accommodate a variety of housing types in a neighborhood setting. The regulations of this district are intended to provide areas of the community for those persons des…

General category MIXED_USE
Top alternative use upside
Retail stores $3.7M +10.3%

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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