701 Francis King St - Supermarket FOR SALE


Greensboro, NC 27410- Northwest Greensboro
$9,956,000 USD
980-498-3293
701 Francis King St, Greensboro, NC for Sale
$9,956,000 USD
Supermarket - FOR SALE
1/4
null | 5% Cap Rate

701 Francis King St
Greensboro, NC 27410
Northwest Greensboro


HIGHLIGHTS

  • STRONG LEASE FUNDAMENTALS & LONG OPERATING HISTORY
  • LOW VACANCY RETAIL TRADE AREA
  • SOUGHT AFTER CORPORATE BACKED GROCER

OVERVIEW

SOUGHT AFTER CORPORATE BACKED GROCER - Harris Teeter currently operates more than 262 stores across the Southeast and portions of the Northeast - Harris Teeter is owned and backed by Kroger, which carries a credit rating of BBB - In 2024, Kroger’s total revenue exceeded $147 billion NEARBY MARKET DRIVERS - The site is positioned just 0.8 miles north of Guilford College, which has more than 1,100 students and 300 employees - Less than 5 miles west of the site is Piedmont Triad International Airport, which handles over 1.2 million passengers annually across more than 102,000 flights - The property is also surrounded by Jefferson Elementary, Guilford Middle, and Guilford High Schools, providing a built-in customer base LOW VACANCY RETAIL TRADE AREA - Within a 1-mile radius of the site is more than 430K SF of retail space - Vacancy rate in that radius is below 1.75% - Nearby national retailers include: Walmart Neighborhood Market, Sherwin-Williams, Chipotle, Starbucks, and more EXCELLENT REGIONAL CONNECTIVITY - Strategically positioned near the intersection of Bryan Blvd and W Friendly Ave - Easy access to I-73 and I-40 connects the site to the broader Greensboro and Triad region - More than 45,000 vehicles per day travel within a two mile radius, providing strong visibility and accessibility HIGH GROWTH GREENSBORO - Located in the Triad MSA, one of North Carolina’s three largest metropolitan areas - In 2023, Greensboro witnessed construction values surpassing $1 billion, marking a 37% increase from the previous year - Projections estimate that Greensboro will welcome an additional 60,000 residents over the next two decades STRONG LEASE FUNDAMENTALS & LONG OPERATING HISTORY - Abs. NNN – Ground leased site with zero landlord responsibilities - This location has operated for almost 20 years, with 3 years remaining and six (6) five-year options - Includes 5% rental increases during option periods

FOR SALE DETAILS

PRICE

$9,956,000 USD

PRICE/SF

$194 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

208

LAND DETAILS

LAND ACRES

5.91 AC

LAND SF

257,440 SF

ZONING

CHB

APN/PARCEL ID

0075210

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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David HoppeAtlantic Capital PartnersMore Info
980-498-3293

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.