Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4002 Barrett Dr, Unit 202 Raleigh, NC 27609

    Sponsored
    For Sale
    $285,000

    COMMERCIAL - Raleigh, NC

    Type:Office
    Property size:
    1,016 SF
    Days on Market:
    3
    Last Refresh:
    Jan 25 at 9:06 am

    Property Features for 4002 Barrett Dr

    General Information

    Special listing conditions
    Standard
    Property type
    Commercial Sale
    Property subtype
    Office
    TransactionType
    Standard
    Standard status
    Active
    Size
    1,016 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1986
    Building materials
    Brick, Vinyl Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Michelle Edwards Mitchell

    Keller Williams Elite Realty (984) 244-5835

    Listing agent Michelle Edwards Mitchell (919) 484-2280

    Listing date Jan 23, 2026

    MLS# 10119383

    Copyright © 2026 Doorify MLS of North Carolina. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Raleigh Office Condo For Sale

    This professional second-floor office condo is available near Midtown Raleigh, North Carolina. Located at 4002 Barrett Drive, Unit 202, the 1016-square-foot office is suitable for attorneys, real estate professionals, and other professional service businesses. The condo features four offices, a reception area, a kitchen area, a storage room, and a restroom. The layout is designed to be efficient and flexible for a small firm or growing team. The building maintains a quiet-use environment, and businesses that produce odors or noise are not permitted. Extra parking is available. This property presents an opportunity for an owner-user to build equity.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Load Runners Trucking ... Transportation Service Shantris Phillips, Realtor ... Real Estate Agent Carolina Accounting & Tax ... Tax Preparation Service Iris S McKoy, ... Real Estate Agent American Hearing Loop Hearing Aid Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Raleigh
    County
    Wake
    State
    North Carolina
    Longitude
    -78.629658
    Latitude
    35.829733

    Nearby Similar for Sale

    • $3,575,000
      16,625 SF

      Move-In Ready Multifamily Investment Opportunity

      Seven completed homes available in Raleigh, ready for immediate occupancy.
      5045 Lundy Dr, Raleigh, NC 27606
      View Details
    • $1,275,000
      4,080 SF

      New Duplexes in Raleigh

      Two new duplexes offering flexible investment opportunities in Raleigh.
      1508 Boyer St, Raleigh, NC 27610
      View Details
    • $1,275,000
      4,080 SF

      New Duplex Investment Opportunity

      New construction duplex with long and short term rental income.
      1510 Boyer St, Raleigh, NC 27610
      View Details
    • New
      $680,000
      3,358 SF

      Raleigh Townhomes: Leased Investment Opportunity

      Fully leased, new construction townhomes in North Raleigh near I-540.
      4820 Gossamer Ln, Raleigh, NC 27616
      View Details
    • $343,000
      Pending

      North Raleigh Office Investment Opportunity

      1,200 Sq Ft office space ideal for medical or professional services.
      5640 Six Forks Rd, Raleigh, NC 27609
      View Details
    • $2,400,000
      6,018 SF

      Raleigh Commercial Space For Sale

      Versatile 6,018 sqft commercial space in Raleigh's Six Forks area.
      1665 N Market Dr, Raleigh, NC 27609
      View Details
    • $1,050,000
      3,740 SF

      Designer Duet Homes in Raleigh

      Modern duet-style homes with designer details and outdoor space near downtown.
      1000 Addison Pl, Raleigh, NC 27610
      View Details
    • $1,150,000
      3,740 SF

      Designer Duet Homes in Raleigh

      Modern duet-style homes with designer details and outdoor space.
      1105 Glascock St, Raleigh, NC 27610
      View Details
    • $1,200,000
      3,905 SF

      Updated Quadplex Portfolio in Raleigh

      Investor-ready quadplex with updated units in a growing corridor.
      1612 Boyer St, Raleigh, NC 27610
      View Details
    • $1,295,000
      2,610 SF

      Raleigh Multi-Family Student Rental

      Cash-flowing NCSU student rental with leases until July 2027.
      206 Ashe Ave, Raleigh, NC 27605
      View Details
    • $245,000
      1,312 SF

      Raleigh Duplex: Investment Opportunity

      Duplex near downtown Raleigh with income potential and recent upgrades.
      325 Ranch Farm Rd, Raleigh, NC 27603
      View Details
    • $900,000
      3,128 SF

      Medical Office Condo Investment Opportunity

      Well-maintained medical office condo in prime Raleigh location for sale.
      3396 Six Forks Rd, Raleigh, NC 27609
      View Details

    FAQs

    What type of property is this?
    Office space - Professional office condo near Midtown Raleigh, ideal for service businesses.
    Where is this office space located?
    The property is located at 4002 Barrett Dr, Unit 202 Raleigh, NC.
    What is the asking price?
    The asking price for this property is $285,000.
    What are key features of this property?
    This property features: - Prime location near Midtown Raleigh at 4002 Barrett Drive.; - Ideal for owner-user to build equity and stop leasing.; - Efficient layout featuring four offices, reception area, kitchen, storage, and restroom.
    (919) 484-2280
    Request Owner's contact information
    4002 Barrett Dr, Unit 202 Raleigh, NC 27609
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4002 Barrett Dr, Unit 202
    Raleigh, NC 27609
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4002 Barrett Dr, Unit 202 Raleigh, NC 27609
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michelle Edwards Mitchell
    Real Estate License ID: 121569
    (919) 484-2280
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.