PREMIER RETAIL CENTER FOR SALE - BERT NOWELL - LoopNet

PREMIER RETAIL CENTER
      BERT NOWELL                FOR SALE
bnowell@mjproperties.com
                              Downtown Raleigh
   984-222-0140 (office)
                               Hudson Building
  252-289-6314(mobile)
                              319 Fayetteville St.

THE HUDSON

ABOUT THE HUDSON BUILDING

            Mikels & Jones Properties is pleased to present a rare
       opportunity to acquire a fully leased premier retail center in the
       heart of Downtown Raleigh’s Central Business District. The
       property features the entire ground floor commercial space of
       The Hudson Development located at 319 Fayetteville Street and
       320-324 South Wilmington Street as well as the onsite
       commercial parking lot. The historic building was first constructed
       in 1920 and renovated in 2005. The building sits in the middle of
       arguably Downtown Raleigh’s best block. Since it’s renovation
       the property has enjoyed long term stable tenancy and quick
       turnaround to relet any vacancies.

PROPERTY DESCRIPTION

 Address: 319 Fayetteville Street,
 Raleigh, NC 27601
 Year Built: 1920
 Renovated: 2005
 Occupancy: 100%
 Uses: Ground floor retail/office with
 residential condominiums above
 Zoning: DX – 40
 Tenants: 3 restaurants, 1 TV studio,
 UPS store, ATM, Parking Lease
 Estimated OPEX: $9.95/sf
 2021 NOI: estimated $601,000

         Price: Contact Broker

GALLERY

DOWNTOWN RALEIGH NEARBY AMENITIES
                           North Carolina
                            State Capitol

DOWNTOWN RALEIGH AND MARKET OVERVIEW
                        Triangle reaches pinnacle for best real estate prospects in 2021

 After spending the last two years hovering in the top three, the Triangle has been named the top market in
 the country for real estate prospects heading into the new year, according to an annual report by the Urban
 Land Institute and PwC.

 As uncertainty abounds across the country amid the pandemic, the report found the Triangle maintained
 many of the strengths it has enjoyed in previous years, boosting its standing past reigning champ Austin,
 Texas – No. 2 this year ahead of Nashville, Tennessee, which held its third place ranking. Charlotte came in
 at No. 5.

 The report is among the largest in the industry and comprises a survey of around 3,000 real estate profes-
 sionals to forecast the trends and markets to watch in the coming year. ULI and PwC also rank the top 80
 U.S. cities in the country based on their real estate prospects headed into 2021.

 In addition to the overall market ranking, ULI and PwC again named Raleigh the No. 1 market for home-
 building prospects, with Austin just behind and followed by Dallas/Fort Worth, Texas.

 A recurring theme in the report is the pandemic’s acceleration of trends in demographic shifts, retailing, as
 well as working from home.

DOWNTOWN RALEIGH AND MARKET OVERVIEW
 The report found that cities across the Sunbelt, such as Raleigh, Charlotte and Nashville, Tennessee,
 continue to experience an influx of new residents leaving northern cities such as New York and Chicago.

 "A significant single-family-housing market trend emanating from the Covid-19 pandemic is ‘the Great
 American Move,’” the report reads. “People (and businesses) are moving in all sorts of ways – to different
 geographies, from denser cities to the suburbs, from an apartment to a home, and, for some, back “home”
 to live with family members. There is no better evidence of the Great American Move than the booming
 single-family-housing markets – especially in the more attainably priced areas of the United States.”

 Additionally, uncertainty is high for the future of office space as companies around the country continue
 loosening restrictions on work-from-home policies, opening up more options for where workers may
 choose to live and work. For example, REI has sold its new headquarters in Washington state to
 Facebook and plans to break up its workforce across a collection of markets.

 All this could spell opportunity for markets like the Triangle, though the impact of demand for office space
 long term is yet to be clear.
 The study is ULI and PwC’s 42nd since starting the Emerging Trends in Real Estate report.
 Its results are based on three components:
 •   A nationwide survey of ULI’s membership and other real estate industry leaders;
 •   Face-to-face interviews by PwC researchers of more than 500 real estate industry leaders;
 •   and Data gleaned from real estate markets across the country.

 By Caleb Harshberger – Staff Writer, Triangle Business Journal—Oct 14, 2020

DOWNTOWN RALEIGH AND MARKET OVERVIEW

                                                       #2
                    #2                   Best State Capitals to Call Home
                                                                                        #3
            Best Quality of Life                                                    ‘Tech Town’
                                                   -WalletHub
                 -Numeo                                                              -CompTIA

              #12                                     #1                                     #3
  Most Livable and Up-and-Coming        Real Estate Market For 2021         Best Cities for Millennials to Relocate
       Markets for Tech Jobs
                                          -Urban Land Institute’s                        -INDYweek
               -Zillow
                                       Emerging Trends in Real Estate

                    #10                                                                  #9
         Hottest Zipcodes in America                                        Most Recession-Resistant Cities
                -realtor.com
                                                       #9                            -SmartAsset
                                           Most Livable Cities for 2020
                                                   -SmartAsset