This four-tenant property in Cary, North Carolina boasts a mix of Internet-resistant businesses including CAVA, BurgerFi, America’s Best Contacts & Eyeglasses and Heaven Foot Spa. The 10-year NN leases feature scheduled rental increases and two options to extend. The minimal landlord responsibilities are limited to the roof, structure, foundation and common area maintenance (CAM). Investors can also benefit from North Carolina’s extremely low corporate income tax rate (the lowest in the nation).
The subject property is adjacent to Office Depot and is a highly visible outparcel to Target and The Home Depot at the heart of a dynamic retail trade area in Cary, North Carolina. The property is situated within an affluent community of 160,000 residents and has access to more than two million Triangle area residents. Visitors to this multi-tenant site have easy access to Interstate 440 thanks to its position between Raleigh and Research Triangle Park (RTP). The town’s prime location puts visitors and residents just 20 minutes from three major universities: Duke University, North Carolina State University (NCSU) and The University of North Carolina at Chapel Hill (UNC).
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. Additionally, residents of Cary make up a group of one of the highest median household incomes in the state of North Carolina.