Skip to main content

Shopping Strip

CAVA & BurgerFi Strip | Raleigh MSA | NNN Leases | Trophy Location in Affluent Market | 100% Leased

2001 Walnut St, Cary (Raleigh MSA), NC 27511

Listing Price: $10,738,485

Cap Rate
5.18%
Gross SF
6,624
Rentable SF
6,624
Price/Gross SF
$1,621.15
Lot Size
1.99 acres
Year Built
2000

Investment Overview

Cary is a town in Wake County and Chatham County, North Carolina. Cary is part of the Raleigh-Cary, NC Metropolitan Statistical Area. As of the 2020 Census, the population of Cary was 174,721, making it Wake County's second-largest municipality, the seventh-largest in North Carolina, and the 150th largest in the United States. Cary began as a railroad town, and became known as an educational center in the late 19th and early 20th centuries; Cary High School was the first state-funded public high school in North Carolina. The creation of the nearby Research Triangle Park in 1959, resulted in Cary's population doubling every decade from 1950 to 2000. Cary is now the location of technology and manufacturing companies, including the largest privately-held software company in the world. In Cary, 68.4% of adults hold a bachelor's degree or higher, which is higher than the state average. In 2021, Cary was identified as the safest mid-sized city in the United States, based on 2019 FBI data.

Investment Highlights

  • 100% Occupied Synergistic Mix of National and Regional Tenants on NNN Leases w/ Favorable Increase Structures throughout the Initial Term and Options.
  • Complete 2019 Renovation of Exterior / Interior. Per Placer.ai: CAVA is Ranked within the Top Ten Most Visited Locations in this Chain Nationally based on Foot Traffic.
  • Positioned Along Area's Major Retail & Traffic Corridor: Signalized Hard Corner Location - Features Direct Access and Excellent Visibility w/ Daily Combined Traffic Counts Exceeding 47k Vehicles.
  • Densely Populated and Affluent Area: Features an Average Household Income of more than $108k and over 188k People Residing within a 5-Mile Radius. Has Access to more than 2 Million Triangle area Residents.
  • The Site's Prime Location puts Visitors & Residents just 20 Minutes from three Major Universities: Duke University, North Carolina State University and the University of North Carolina at Chapel Hill.
  • The Subject Property is Surrounded by Retail, Restaurants & Shopping Centers. Directly Across from Lowe's and Outparcel to Target and The Home Depot at the Heart of a Dynamic Retail Trade Area.
  • Cary and the Triangle Region are Widely Recognized for Nationally Ranked Health Care, Top-Rated Higher Education and the World Renowned Research Triangle Park (RTP).
  • An Affluent Population, Strong Employment Base Generating New Jobs, sustained Area Growth and Billions of Dollars in Planned Commercial and Residential Development Projects all support the Strength of the Triangle Region as a whole. Adjacent to Crossroads Plaza - a Shopping Center that features a Powerful Lineup of more than 60 Retailers including Hobby Lobby, Marshalls, HomeGoods, Michaels, Dick's Sporting Goods. Minutes from WakeMed Cary Hospital - the Only Full-Service Hospital in Cary bringi

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Shopping Strip

CAVA & BurgerFi Strip | Raleigh MSA | NNN Leases | Trophy Location in Affluent Market | 100% Leased

Listing Price: $10,738,485

Cap Rate
5.18%
Gross SF
6,624
Rentable SF
6,624
Price/Gross SF
$1,621.15
Lot Size
1.99 acres
Year Built
2000

Investment Highlights

  • 100% Occupied Synergistic Mix of National and Regional Tenants on NNN Leases w/ Favorable Increase Structures throughout the Initial Term and Options.
  • Complete 2019 Renovation of Exterior / Interior. Per Placer.ai: CAVA is Ranked within the Top Ten Most Visited Locations in this Chain Nationally based on Foot Traffic.
  • Positioned Along Area's Major Retail & Traffic Corridor: Signalized Hard Corner Location - Features Direct Access and Excellent Visibility w/ Daily Combined Traffic Counts Exceeding 47k Vehicles.
  • Densely Populated and Affluent Area: Features an Average Household Income of more than $108k and over 188k People Residing within a 5-Mile Radius. Has Access to more than 2 Million Triangle area Residents.
  • The Site's Prime Location puts Visitors & Residents just 20 Minutes from three Major Universities: Duke University, North Carolina State University and the University of North Carolina at Chapel Hill.
  • The Subject Property is Surrounded by Retail, Restaurants & Shopping Centers. Directly Across from Lowe's and Outparcel to Target and The Home Depot at the Heart of a Dynamic Retail Trade Area.
  • Cary and the Triangle Region are Widely Recognized for Nationally Ranked Health Care, Top-Rated Higher Education and the World Renowned Research Triangle Park (RTP).
  • An Affluent Population, Strong Employment Base Generating New Jobs, sustained Area Growth and Billions of Dollars in Planned Commercial and Residential Development Projects all support the Strength of the Triangle Region as a whole. Adjacent to Crossroads Plaza - a Shopping Center that features a Powerful Lineup of more than 60 Retailers including Hobby Lobby, Marshalls, HomeGoods, Michaels, Dick's Sporting Goods. Minutes from WakeMed Cary Hospital - the Only Full-Service Hospital in Cary bringi

Investment Overview

Cary is a town in Wake County and Chatham County, North Carolina. Cary is part of the Raleigh-Cary, NC Metropolitan Statistical Area. As of the 2020 Census, the population of Cary was 174,721, making it Wake County's second-largest municipality, the seventh-largest in North Carolina, and the 150th largest in the United States. Cary began as a railroad town, and became known as an educational center in the late 19th and early 20th centuries; Cary High School was the first state-funded public high school in North Carolina. The creation of the nearby Research Triangle Park in 1959, resulted in Cary's population doubling every decade from 1950 to 2000. Cary is now the location of technology and manufacturing companies, including the largest privately-held software company in the world. In Cary, 68.4% of adults hold a bachelor's degree or higher, which is higher than the state average. In 2021, Cary was identified as the safest mid-sized city in the United States, based on 2019 FBI data.

Exclusively Listed By

  • Alvin N. Mansour

    Executive Managing Director Investments

    (858) 373-3184

    Email Alvin

    License(s): CA: 01391653, TX: 0606255

    San Diego

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

MM Texture Background
MM Textured Background Lower