Dick's House of Sport - Durham, NC
6910 Fayetteville Rd, Durham, NC, 27713, US
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple Pinnacle Financial Partners located at 4525 Falls of Neuse Road in Raleigh, North Carolina (“Property” or “Asset”). Pinnacle is operating on 15-year absolute NNN lease with ±12.5 years of primary lease term remaining, 1.9% annual rent escalations, two, five-year renewal options and zero landlord responsibilities.
Located just four miles north of downtown Raleigh, Pinnacle is positioned at the signalized intersection of Falls of Neuse Road and Pacific Drive with direct visibility to more than 36,000 vehicles per day. The Property is surrounded by high density, upper-middle income residential communities with a large daytime population.
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Attributes
Asking price
NZ$3,985,000
Cap rate
5.25%
NOI
NZ$210,000
WAULT
12.5 years
Building area net
395 m²
Land area gross
0.45 ha
Media
Investment Highlights
- Operating on an absolute NNN lease with ±12.5 years of lease term remaining and 1.9% annual rent escalations
- Pinnacle Financial Partners is the 2nd largest bank holding company in TN with an investment grade rating (Moody's: Baa2)
- Adjacent to new $1 billion mixed-use development - The Exchange Raleigh
- Strong demand characteristics driven by 5-mile AHHI of $128K
- Within Midtown Raleigh, one of NC's most upscale locations
- Signalized intersection with direct accessibility to 36K VPD
Contact brokers
Pinnacle Bank - Raleigh, NC (Falls of Neuse Rd) (0 Properties)
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Last updated
5 May 2025
