NNN Income and Redevelopment Land on Raleigh's Glenwood Avenue

Investment Overview

Two adjacent parcels totaling 2.70 acres on Glenwood Avenue (US-70) in Northwest Raleigh, offered separately or together: a fully leased NNN retail building and a 1.726-acre redevelopment site. Parcel A – 6429 Glenwood Ave | $3,500,000 | 6.64% Cap Rate An 8,504 SF retail building on 0.986 acres, leased on NNN terms to Sherwin-Williams and Godfather's Pizza. Sherwin-Williams has renewed through December 2028. Godfather's Pizza signed a new lease in 2025 with 3% annual increases. Parcel A NOI: $232,378 (estimated, based on current leases). Parcel B – 6425 Glenwood Ave | $2,500,000 1.726 acres zoned IX-3-PL with a 5,160 SF clear-span building and five bays, suited to retail, restaurant, brewery, showroom, or flex/industrial reuse, or redevelopment. Both Parcels – $5,280,000 The site includes room between the parcels for a future ±5,000 SF building, a completed recombination survey, and a rear access easement. Location Glenwood Avenue carries 32,390–39,500 vehicles per day near the site (Esri, 2026). Nearby retail includes Walmart and Pleasant Valley Promenade (Marshalls, Ross, Dick's, Ulta, Petco). About 75,558 residents live within 3 miles and 117,255 employees work within 5 miles (Esri, 2026 estimates).

Investment Highlights

• Parcel A: $3,500,000 | $232,378 NOI | 6.64% cap rate
• Sherwin-Williams (investment-grade, S&P BBB) and Godfather's Pizza on NNN leases
• Godfather's new 2025 lease with 3% annual increases; Sherwin-Williams renewed through Dec 2028
• Parcel B: 1.726 AC zoned IX-3-PL with a 5,160 SF clear-span, five-bay building
• Parcel A $3.5M, Parcel B $2.5M, or both for $5.28M
• Room for a future ±5,000 SF building; recombination survey complete; rear access easement
• 32,390–39,500 VPD on Glenwood Ave (Esri 2026); near Walmart and Pleasant Valley Promenade