Raleigh Office Building Investment
For Sale
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1006 Carlton Ave, Raleigh, NC 27606
1,201 SF office building in Raleigh, renovated in 2018.
Property Size1,201 SF
Price / SF$412.16
Days on Market242
Property Features for 1006 Carlton Ave
General Information
Standard status
Active
Size
1,201 SF
Property subtype
Office
Zoning
RX-3
Building Details
Year Built
1950
Year Renovated
2018
Units
1
Listing Agency:
CityPlat LLC
Listed By:
Pat Moore · License #NC 287882
Source:
Crexi
Added: Feb 5
Changed: Sep 8
Last Checked: Oct 5 at 4:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CityPlat LLC
Investment Insights
Based on property information with market context.
This 1,201 SF office building, constructed in 1950 and renovated in 2018, is located in Raleigh. Zoned RX-3, the property offers potential for a range of office, commercial, and residential uses. The location provides access to dining, shopping, and entertainment options, and is near Hillsborough Street, known for its restaurants, cafes, and local shops. The nearby North Carolina State University campus provides a flow of professionals and students to the area, ensuring a tenant base for the property.
Key Highlights
- Prime location in Raleigh, close to amenities, Hillsborough Street, and North Carolina State University.
- Zoned RX‑3, offering versatile potential for office, commercial, or residential uses.
- Renovated in 2018.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,637
Cap Rate
3.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,740
$332.7K
Cap Rate 7%
$237,671
$237.7K
Cap Rate 9%
$184,856
$184.9K
Market Conditions
NOI Build-Up for 1,201 SF
Gross rent
$26.7K $22.20/SF
− Vacancy
−$4.5K −$3.73/SF
EGI
$22.2K $18.47/SF
− OpEx
−$5.5K −$4.62/SF
NOI
$16.6K $13.85/SF
Area
Raleigh, NC
Vacancy
16.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$332,740
Cap Rate 7%
$237,671
Cap Rate 9%
$184,856
Alternative Uses
Best Use
Office B
$237.7K
$208.0K – $277.3K
NOI $16,637 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$330.1K
$288.8K – $385.1K
NOI $23,104 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Explore this area
Business Placement
Demographics for 27606, NC
48,343
Population
22,199
Households
2.2
Avg Household Size
29
Median Age
59%
College-Educated
93%
High-School Grad
24.5 sq mi
ZIP Area
1,973
Density / Sq Mi
$75,640
Median Household Income
$40,950
Median Earnings
$1,369
Median Rent
$423,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - 1,201 SF office building in Raleigh, renovated in 2018.
Where is this office building located?
The property is located at 1006 Carlton Ave Raleigh, NC.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Prime location in Raleigh, close to amenities, Hillsborough Street, and North Carolina State University.; Zoned RX‑3, offering versatile potential for office, commercial, or residential uses.; Renovated in 2018.
