Wake Forest Northeast Community Plan - December 2021

Retail Sales Capture Demand for retail space at the E. Roosevelt Avenue and S. White Street intersection site is likely to stem from three main sources: • Recapture of retail spending leakage from households within the 1-mile radius of the intersection site • Recapture of retail spending leakage from households within the 3-mile radius of the intersection site • Recapture of retail spending leakage from households within the 5-mile radius of the intersection site RKG calculated the amount of retail spending that could be recaptured from households living within the 1-, 3- and 5-mile radii of the intersection site by estimating the share of retail spending leakage by category that could reasonably be recaptured. This analysis assessed that approximately $18.7 million in retail spending annually can be recaptured, which translates into approximately 58,500 square feet of retail space near the neighborhood (Table 4.B.4). Of these 58,500 SF, the majority come from furniture stores (8,821 SF) and home furnishing stores (3,340 SF). Drinking place or bars is the largest category at 9,420 SF, which is consistent with a revitalizing downtown center. Other miscellaneous merchandise stores (8,543 SF), other miscellaneous store retailers (8,643 SF) clothing stores (7,103 SF), books &

periodical & music stores (3,465 SF) are some of the other store types. Most of these retail types are local serving in nature, such as drinking places, and benefit from the proximity to consumers. However, other categories such as furniture stores, clothing stores and electronics and appliance stores usually serve a broader region and can accommodate demands from households within all three radii areas. It is also important to note that not all capturable building space is adequate to attract a new business but may create opportunities for existing establishments to expand their product lines. The prospects for a full-service grocery store are currently not strong in the Northeast Community given the surrounding competition within 5-miles of the N. White St./E. Roosevelt St. location. RKG’s analysis indicates that will people within 1-mile of downtown are slightly underserved, at 3- and 5-miles there is a $20 to $40 million surplus in grocery sales. While the intersection is an established commercial location, it doesn’t offer the site visibility and traffic volumes that a full-service grocery anchor would need to be successful. However, as part of a comprehensive redevelopment project, with higher density residential, there is the potential to attract a small to mid-size grocery store like an Aldi’s or Lidl Supermarket to serve the greater downtown neighborhoods. Unfortunately, both chains are located within a few miles of the downtown on South Main Street.

TABLE: 4.B.4

Recaptured Retail Sales Leakage Northeast Community (2021) Recaptured Retail Sales Leakage

Supportable Bldg. SF Sales Recapture

Auto Parts, Accessories & Tire Stores



Furniture Stores



Home Furnishings Stores



Electronics & Appliance Stores



Bldg Material & Supplies Dealers



Lawn & Garden Equip & Supply Stores



Grocery Stores



Specialty Food Stores



Beer, Wine & Liquor Stores



Gasoline Stations



Clothing Stores



Shoe Stores



Jewelry, Luggage & Leather Goods Stores



Book, Periodical & Music Stores








Office Supplies, Stationery & Gift Stores



Used Merchandise Stores



Other Miscellaneous Store Retailers



Special Food Services



Drinking Places - Alcoholic Beverages



Total Supportable Building SF



Credit: ESRI and RKG Associates, Inc. 2021

Chapter 4: Appendix

Northeast Community Plan



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