360 Ashville Ave

360 Ashville Ave, Cary, NC 27518

Property Information

  • For Sale $2,282,403
  • Property Type Retail - Street Retail
  • Property Size 5,625 SF
  • Units 16
  • Lot Size 1 Acre
  • Year Built 1990
  • Date Updated Jun 11, 2026

Description

Positioned within a densely populated and rapidly expanding pocket of Cary, the property offers strong neighborhood connectivity and commuter access, with ±6,600 VPD on Regency Parkway and adjacent US-1 carrying approximately 15,500 VPD. The surrounding trade area draws on Cary’s deep employment base, top-rated schools, and quality-of-life appeal, all of which sustain consistent demand for convenience-oriented automotive services. The location pairs everyday accessibility with the durability of a mature, built-out market.A 5,625 SF Atlantic Tire location on a 1.00-acre parcel, producing $141,509 in base rent effective July 17, 2026 ($25.16/SF). Priced at $2,282,403 at a 6.20% CAP rate, the asset offers contractual 3% annual rent growth and long-term tenancy in one of the Triangle’s most sought-after suburban submarkets. The property’s compact, efficient footprint supports strong rent coverage and operational performance.

Highlights

  • High-income suburban trade area with strong residential density
  • Lease in place through July 31, 2033, providing approximately 7 years of remaining term, and 3% annual rent escalations
  • Lot size: 1.00 acre
  • PE-backed tenant platform
  • PIN: 0762332751
  • Proven operator with established regional presence
  • Three additional five-year renewal options
  • Traffic counts: ±6,600 VPD on Regency Parkway; ±15,500 VPD on adjacent US-1
  • Zoning: GCCU (General Commercial – Conditional Use, Town of Cary)

Contacts

Moss Withers

Lee & Associates

Location

Located at 360 Ashville Ave, Cary, NC 27518, this property is part of the Lochmere Forest East neighborhood and Raleigh Durham market.

Contact Listing Broker
Moss Withers

Lee & Associates

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