2411 E Millbrook Road Suite 104Raleigh, NC 27609

Description

An exceptional, low-maintenance investment opportunity to acquire a prime commercial retail condominium in Raleigh's highly trafficked Millbrook Lake Center. Offered at $785,000, this property features an established, long-term laundromat tenant generating immediate, reliable cash flow. Because the tenant owns the equipment and handles operational costs, this asset offers an investor a true "hands-off" passive stream of income. Financial & Investment Highlights Immediate Cash Flow: Generates a steady, predictable income of $5,000 per month ($60,000 annually) from day one. Strong Yield: Offering an attractive 7.64% gross capitalization yield at the current asking price. Absolute Passive Structure: The tenant owns 100% of the commercial laundromat equipment. Under the current agreement, the tenant is fully responsible for all equipment maintenance, property repairs, and any additional assessments, insulating the landlord from unexpected operational expenses. Strategic Location & Property Features Prime Raleigh Location: Situated in a high-visibility retail strip right off the bus line with easy access to US-1 and the I-440 beltline. Built-In Customer Base: Surrounded by dense, multi-family residential complexes and established neighborhoods, ensuring a permanent demand for the tenant's services and long-term viability for the location. Excellent Asset Condition: Modern, second-generation commercial buildout featuring tenant-controlled HVAC, updated storefront signage, and ample shared parking within the center. Property Overview Property Type: Retail Commercial Condominium Current Use: Tenant-Operated Laundromat Monthly Income: $5,000/month ($60,000/year) Maintenance & Expenses: 100% Tenant responsibility (Repairs, maintenance, and assessments) Financing Structure Seller Financing Potential: The owner is open to considering flexible owner-financing structures or creative deal structuring for well-qualified buyers with a substantial down payment. Inquire Today: Full lease details, condo association documents, and property specifics are available upon request. Contact the listing team directly to discuss terms or schedule a site visit.

Property Information

Property type

Commercial Sale

Sub-type

Retail

Year built

1987

Living area

2,420 Sq Ft

Days on market

110

MLS^® Listing#

10174433

Property Features

Cooling

Ceiling Fan(s) · Central Air

Heating

Forced Air

Parking

Paved

Laundry

In Unit

Construction

Brick Veneer

Foundation

Slab

Security

See Remarks

Utilities

Cable Available

Sewer

Public Sewer

Water source

Public

Financial Details

Annual taxes

$3,862Tax year 2025

Assessed value

$442,829

Directions

From I-440, take Exit 11 for Capital Blvd/US-1. Head north on Capital Blvd, turn right onto E Millbrook Rd. Property is located within Millbrook Center, Unit 104.