701 & 719 - LoopNet€¦ · 701 & 719 W. JOHNSON STREET RALEIGH, NC 27603 The information contained...

701 & 719W. JOHNSON STREETRALEIGH, NC 27603

0.43 ACRES FOR SALE ON

GLENWOOD SOUTH

1001 Wade Avenue, Suite 300, Raleigh, NC 27605trademarkproperties.com • 919.782.5552

W. PEACE STREET

N. BO

YLAN

AVEN

UE

GLE

NW

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D A

VEN

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W. JOHNSON STREET

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SITE

701 & 719 W. JOHNSON STREETRALEIGH, NC 27603

The information contained herein was obtained from sources believed reliable; however, TradeMark Properties makes no guarantees, warranties, or representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, changes of price or conditions prior to sale or lease, or withdrawal without notice.

SANDRA SIMPSON [email protected] 919.573.8099 direct 919.244.8714 mobile


0.43 ACRES FOR SALE ONGLENWOOD SOUTH

ABOUT THE PROPERTY

701 W. Johnson Street• 0.35 acres• 11,858 SF fully leased office/

retail building• Zoned NX-5

719 W. Johnson Street• 0.09 acres• Zoned NX-5

• Located at the corner of W. Johnson Street & N. Boylan Avenue in the Glenwood South district

• Within walking distance to the Publix (coming soon) and numerous restaurants, bars, and entertainment

• 27 paved parking spaces

SALES PRICE$3,150,000

JONATHAN M. BASSI [email protected] 919.227.5511 direct 919.802.4739 mobile

W. PEACE STREET

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YLAN

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GLEN

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W. JOHNSON STREET

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0.43 ACRES







INCREASED VISIBILITY

All south bound traffic coming into downtown Raleigh from Capital Boulevard will be redirected from the former Peace Street exit to W. Johnson Street. Kane Development Corporation is connecting W. Johnson Street between Phase 1 and Phase 2 of the Smoky Hollow Project. This will increase the traffic flow on W. Johnson Street and the visibility of the subject property.

W. JO

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STREET

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BUILDING SUMMARY

Units in Building 12

Occupied Units 11

Occupancy Rate 96.65%

Monthly Parking Lot Income $614.50

Monthly Rental Income $14,183

YEARLY INCOME $177,570

FIXED MONTHLY EXPENSES

Electricity $762.33

Water $123.81

Gas $747.80

Trash Removal $415.61

Janitorial $187.08

Insurance $265.93

Property Taxes $1,255.18

YEARLY TOTAL $45,092.88

N. BOYLAN AVENUE

W. JOHNSON STREET

N





AERIAL

W. JOHNSON STREET

TUCKER STREET

W. NORTH STREET

W. LANE STREET

W. JONES STREET

ST. MA

RY’S STREET

N. BO

YLAN

AVEN

UE

GLEN

WO

OD

AVEN

UE

N. W

EST STREET

W. PEACE STREET

1

2

3

MULTIFAMILY

1 St. Mary’s Square

2 712 Tucker

3 The Devon

4 The Gramercy

5 222 Glenwood Condos

6 Link Apartments

7 Quorum Center Condos

8 The Metropolitan

9 The West Condos

10 510 Glenwood Condos

11 Paramount Condos

12 The Peace

4

5

6

7

8

9

10

11

RETAIL

1 Clouds Brewing

2 Tobacco Road

3 42nd Street Oyster Bar

4 Sushi O

5 Plates

6 Hibernian Pub

7 Xoco

8 Sullivan’s Steakhouse

9 Carolina Ale House

10 Cornerstone Tavern

11 Raleigh Beer Garden

12 Mellow Mushroom

12

3

4

5

6

7

8

11

9

10

12

CAPITAL BOU

LEVARD12

SMOKY HOLLOW

N







ABOUT GLENWOOD SOUTH

One of downtown’s signature streets anchors this eclectic mix of restaurants, art galleries, stores, nightlife, and residences. New restaurants blend in with established favorites, while the exploding population of young workers find plenty to do in the active bar scene, which includes the world record holding Raleigh Beer Garden. With over 1,300 units under construction or recently delivered and more on the way, Glenwood South will build on its existing residential base to become one of downtown’s most distinctive neighborhoods.

COMING SOON

TIN ROOF

RALEIGH BEER GARDEN

CORNERSTONE TAVERNDRAM & DRAUGHT

1,600+NEW RESIDENTIAL UNITS RECENTLY

DELIVERED, UNDER CONSTRUCTION,

OR PLANNED

30+DINING

ESTABLISHMENTS

30+RETAILERS

Source: Downtown Raleigh Alliance 2018







DOWNTOWN RALEIGH BY THE NUMBERS

Square Feet of Private Office Space 7.2 million

Hotel Rooms 1,257

Hotel Occupancy 71.3%

Average Hotel Daily Room Rate $148.71

Retailers 113

Restaurants 152

Arts & Cultural Institutions 42

Visitors to Outdoor Festivals 929,000

% of Residents with Bachelor’s Degree or Higher 47%

Enrollment in Raleigh Universities 39,848

Housing Units 5,472

Average Rent $1,444

Population within One Mile 16,971

Acres of Parks Near Downtown 447 acres

James Beard Nominations Since 2010 13

Source: Downtown Raleigh Alliance 2018

47%OF RESIDENTS WITH BACHELOR’S DEGREE

OR HIGHER

94.7%OFFICE OCCUPANCY

47,000TOTAL EMPLOYEES

3,425 residential units recently delivered, under construction, or planned

1,803 units completed since start of 2015

8,500 residents live downtown

35% increase in residents since 2015

95% occupancy rate for all multifamily properties in downtown

$1.75BCURRENT DEVELOPMENT

PIPELINE



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