7333 Knightdale Blvd. Knightdale, NC 27545

FEATURED LISTING

7333 Knightdale Blvd.
Knightdale, NC 27545
$400,000

OFFERED BY: Kima Commercial, LLC / Keller Williams Preferred Realty

 

 

This .50 acres lot is in a QUALIFIED OPPORTUNITY ZONE! Located within one mile of dozens of major retailers and zoned Highway Business with frontage to Knightdale Blvd., you can expect 28,000 average annual daily traffic. Public Water and Public Sewer are available at the property, and the house on the lot will convey at no additional cost. PIN # 1754361173

 

HIGHLIGHTS

  • Qualified Opportunity Zone
  • Great road frontage
  • Located near dozens of retailers

 

Want more info? Check out the property WEBSITE.

Wheat Field Shopping Center – Wake Forest

FEATURED LISTING

Wheat Field Shopping Center
1009 Forestville Rd. Wake Forest, NC 27587

$28-$32/sf

OFFERED BY: Kima Commercial, LLC / Keller Williams Preferred Realty

 

Now Pre-Leasing! 
Located in Heritage Wake Forest and sitting directly across from Heritage High School, this NEW retail opportunity is adjacent to The Shoppes at Heritage Village (anchored by Publix) and Heritage Station (anchored by Harris Teeter). Nearby neighborhoods include Heritage, Bridgeport, Stonewater, Majestic Oaks, along with several garden style apartment home communities. Many restaurants, community trails & The Factory are also close by.

HIGHLIGHTS

  • ±1,341 RSF – 25,000 RSF available
  • Delivery Summer 2020
  • Located in growing Heritage community

 

 

 

 

AERIAL PROPERTY VIDEO

 

 

Want more info? View the property WEBSITE.

60 Liles Dean Rd. Wendell, NC 27591

FEATURED LISTING

 

60 Liles Dean Rd.,
Wendell, NC 27591
$1,200,000

OFFERED BY: Kima Commercial, LLC / Keller Williams Preferred Realty

 

PRIME LOCATION! 2.65 acres on Hwy 64/Liles Dean Rd. Directly across from thriving commercial corridor. McDonalds and banking establishment across the street, with a Hardee’s restaurant currently being built. Would be a great area for a drug store or pharmacy, a car wash, small car lot, etc. There is currently a home on foundation on the land which will convey, however the two mobile homes will not convey and will be moved before closing. The barn on the lot will also be removed before closing.

HIGHLIGHTS

  • Great road frontage
  • On busy commercial corridor
  • Combines 2 lots to make one large lot
  • Across from McDonalds and Bank

 

Want more info? Check out the property WEBSITE.

Commercial Real Estate Investors Flocking to North Carolina

North Carolina is experiencing an increase in the level of investors flocking into all counties of the state.  Domestic and foreign monies are ready to be spent in the Tar Heel state due to the strong economic impact of commerce, industrial, and tourism. Also, the lower retail vacancy compared to the rest of the nation has catapulted the Tar Heel state at the forefront of North American Economies. 1031 domestic and cash foreign investors are taking advantage of the unparalleled economic growth in cities such as Charlotte, Raleigh, Greensboro, Winston-Salem, Ashville, Carrboro/Chapel Hill and Wilmington.

Just to name a few investors in the thriving North Carolina cities, the following are recent transactions:

  • Cedar Grove Capital, a New York-based property investment firm, purchased the 86 North Apartments complex in Chapel Hill, North Carolina, for $17.2 million, or about $178,000 per unit.
  • A real estate investment group based in Southern California closed on its purchase of an apartment community in North Carolina’s Research Triangle area, home to the nation’s largest research park. Brookline Investment Group bought the Phillips Research Park, a 292-unit apartment community at 1533 Ellis Road in Durham, according to a statement from Capstone Apartment Partners, which represented the seller in the deal. Brookline paid about $46 million for the complex, according to CoStar data, and bought the property from Tampa, Florida-based Phillips Development.
  • Longfellow Real Estate Partners bought out its equity partner in a nearly 1.34 million-square-foot portfolio in North Carolina’s red hot Research Triangle for about $303 per square foot. Boston-based Bain Capital Real Estate sold its stake in the 18-property portfolio in a transaction valued at about $405 million, according to a statement from JLL, which represented the seller in the deal. The deal was being marketed by HFF prior to the company being acquired by JLL on July 1.
  • The Chicago-based company bought the 184,244-square-foot The Shoppes at Midway Plantation and the 138,756-square-foot Midtown Commons Shopping Center for $43.6 million, according to CoStar data. The Shoppes at Midway Plantation is home to Target, Ross Dress For Less and Petco, among other tenants. Midtown Commons’ tenants include Dick’s Sporting Goods, T.J. Maxx and Kohl’s, according to Kimco’s website. Kimco Realty acquired those shopping centers in late 2010 for $23.4 million, according to CoStar data.

    If you have an interest in Commercial Real Estate in North Carolina please let us know as we are ready, willing, and able to help!

    Mehdi Hilmi
    Mehdi@kimacommercial.com

So you want to start a wedding venue business?

So you want to start a wedding venue business?

As I was walking through this beautiful almost 3 acres historic property that Kima Commercial has listed, the owner says : “You know Mehdi, this property can make a gorgeous wedding venue with its own red barn ”. So, I started imagining a southern style wedding where guests are dancing on the lawn with this beautiful Victorian style house as their back drop, tables that are beautifully set up in the red barn under crystal chandeliers and I forgot for a second that I was in the middle of the Town of Wake Forest, NC and then I realized that the owner is right: This property with its Victorian style house, with its size, its location and being already zoned for commercial use can make a great wedding venue so if you have the same vision, here are some of the things you need to consider first:

#1: Do your research and spend time looking at properties, check out wedding venues and find a venue owner mentor. This last one may be tricky because you may be soon the competition, but you should be able to find a helpful venue owner in a different state.

#2: Join one or more of the venue associations to collect information such as the International Association of Venue Managers and National Associations for Catering and Events.

#3: Research the venue competition in your local market to see what they offer and the market they target so that you can offer something unique like being in a historic property. Your connection with venue associations and or a mentor can help you identify the opportunities in your market the competition is not covering.

#4: Research what services your venue will offer, such as wedding planning services, catering and photography. You can also attend wedding conventions and talk to couples who are actively looking to book their venues.

#4: Use TheWeddingReport.com to get specific numbers for your market such as the number of weddings in your local market and a breakdown of spending by category. For example, some the numbers in Raleigh Metropolitan area for 2018: 6,628 was the number of weddings and $26,797 was the average wedding cost.

#5: Check with the local zoning boards and get a list of all the permits you will need along with their cost and what it takes to get them all.

#6: If your wedding venue vision includes a barn and the property you are considering does not have a barn or has one but needs renovation, then talk to builders with specific experience renovating barns and bringing them up to code as safety is key. A good real estate agent and a construction manager may be vital here as they can advise on total cost right from the start.

#7: Once you have decided on your product offering and location, an immediate factor is to consider the cost of purchasing or developing the venue versus the income you can expect for the business. Bank loans and other borrowing may be necessary, so you’ll need a good business plan to support your loan application. Weddings are typically good for cash-flow since you’ll be making bookings, and receiving a percentage
of the fee, up to six or nine months in advance. Pull this information together in a solid financial projection to help with your finances.

 

11300 Capital Blvd, Wake Forest

The Secret to Profitable Wedding Venues

As recession-proof start-ups go, a wedding venue business is a good bet. Just more than 2 million marriages take place every year in the U.S., according to federal government data and many of the ceremonies and receptions will take place in a rented wedding venue.

Starting your own wedding venue business is a way to help each couple you host have the experience they dream of while you reap your share of the multi-million dollar wedding industry. Like other wedding businesses, venue owners need to know their numbers to find success. They also need to know the following:
1. How much income do you need to draw from the business?
2. How much are your expenses?
3. How many weddings do you need to book at what price to make your target sales
revenue?
4. How many leads and website visitors will you need to hit those booking numbers?

Do your research, know your numbers and your competition and you’ll know whether this is the adventure for you.

If you’re interested in commercial real estate, wedding venues, and/or the great property we have listed at 11300 Capital Blvd, reach out today!

Mehdi Hilmi
VP of Commercial Real Estate
Mehdi@KimaCommercial.com