Office Suite for
For Sale
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1025 Bullard Ct, Raleigh, NC 27615
Office suite offered for sale with 1,008 square feet of commercial space.
Property Size1,008 SF
Price / SF$292.66
Days on Market173
Property Features for 1025 Bullard Ct
General Information
Standard status
Active
Size
1,008 SF
Property subtype
Office
Listing Agency:
Dillon Commercial Real Estate Services
Listed By:
Rhody Dillon · License #NC 31497
Source:
Crexi
Added: Mar 18
Changed: Sep 2
Last Checked: Sep 4 at 9:48PM
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 Dillon Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This office suite is offered for sale and totals 1,008 square feet of commercial space. The property is listed as office units/office spaces, providing a dedicated configuration suitable for office use.
The listing information is provided for 1025 Bullard Ct in Raleigh, NC. No additional details on interior layout, finishes, or building amenities were included in the available information.
At 1,008 square feet, the suite is sized for a range of office needs depending on tenant requirements.
The listing information is provided for 1025 Bullard Ct in Raleigh, NC. No additional details on interior layout, finishes, or building amenities were included in the available information.
At 1,008 square feet, the suite is sized for a range of office needs depending on tenant requirements.
Key Highlights
- Office suite for sale with 1,008 sq ft of commercial space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,215
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$264,300
$264.3K
Cap Rate 7%
$188,786
$188.8K
Cap Rate 9%
$146,833
$146.8K
Market Conditions
NOI Build-Up for 1,008 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.6K $22.44/SF
− Vacancy
−$5.0K −$4.96/SF
EGI
$17.6K $17.48/SF
− OpEx
−$4.4K −$4.37/SF
NOI
$13.2K $13.11/SF
Area
ZIP 27615
Vacancy
22.10%
Lease Rate
$22.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$264,300
Cap Rate 7%
$188,786
Cap Rate 9%
$146,833
Alternative Uses
Best Use
Office B
$188.8K
$165.2K – $220.3K
NOI $13,215 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$272.7K
$238.6K – $318.1K
NOI $19,086 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,236
Businesses Nearby
Explore this area
Business Placement
Demographics for 27615, NC
43,010
Population
20,681
Households
2.1
Avg Household Size
43
Median Age
64%
College-Educated
97%
High-School Grad
18.9 sq mi
ZIP Area
2,276
Density / Sq Mi
$107,051
Median Household Income
$60,661
Median Earnings
$1,533
Median Rent
$441,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office suite offered for sale with 1,008 square feet of commercial space.
Where is this office units located?
The property is located at 1025 Bullard Ct Raleigh, NC.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Office suite for sale with 1,008 sq ft of commercial space
