Office Unit with Four
For Sale
$305,000
1029 Dresser Ct Unit 14, Raleigh, NC 27609
Professional office unit with reception, conference, restroom, and kitchenette areas.
Property Size1,210 SF
Price / SF$252.07
Days on Market48
Property Features for 1029 Dresser Ct Unit 14
General Information
Standard status
Active
Size
1,210 SF
Property subtype
Office
Zoning
OX-3
Site & Location
Neighborhood
Dfc5e89d-62bc-4184-Af57-702bdbabd751
Highway Access
Yes
Additional Details
Asking Price
$305,000
Building Details
Building Size
1,210 SF
Year Built
1981
Listed By:
Will Sossaman
(919) 632-6953
Source:
Lee-associates
Added: Sep 16
Changed: Nov 1
Last Checked: Nov 1 at 3:29AM
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 Will Sossaman
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Investment Insights
Based on property information with market context.
This office condominium at Dorchester Village Condominiums provides 1,210 SF of workplace space with a reception area, four private offices, one conference room, two bathrooms, and a kitchenette. Built in 1981, the unit is zoned OX-3 and offers a practical configuration for professional office use.
The property is located at 1029 Dresser Ct, Unit 14, in Raleigh’s Midtown submarket, with access to I-440. Nearby destinations identified in the property information include North Hills, Wegmans, Trader Joe’s, Costco, Duke Raleigh Hospital, and the Exchange Raleigh mixed-use district.
The property is located at 1029 Dresser Ct, Unit 14, in Raleigh’s Midtown submarket, with access to I-440. Nearby destinations identified in the property information include North Hills, Wegmans, Trader Joe’s, Costco, Duke Raleigh Hospital, and the Exchange Raleigh mixed-use district.
Key Highlights
- 1,210 SF office condominium
- Four offices, one conference room, and a reception area
- Two bathrooms and a kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,762
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,240
$335.2K
Cap Rate 7%
$239,457
$239.5K
Cap Rate 9%
$186,244
$186.2K
Market Conditions
NOI Build-Up for 1,210 SF
Gross rent
$26.9K $22.20/SF
− Vacancy
−$4.5K −$3.73/SF
EGI
$22.3K $18.47/SF
− OpEx
−$5.6K −$4.62/SF
NOI
$16.8K $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%
$335,240
Cap Rate 7%
$239,457
Cap Rate 9%
$186,244
Alternative Uses
Best Use
Office B
$239.5K
$209.5K – $279.4K
NOI $16,762 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$332.5K
$291.0K – $388.0K
NOI $23,277 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,945
Businesses Nearby
Explore this area
Business Placement
Demographics for 27609, NC
36,218
Population
19,740
Households
1.8
Avg Household Size
38
Median Age
61%
College-Educated
93%
High-School Grad
10.9 sq mi
ZIP Area
3,323
Density / Sq Mi
$81,538
Median Household Income
$53,670
Median Earnings
$1,393
Median Rent
$441,100
Median Home Value
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Professional office unit with reception, conference, restroom, and kitchenette areas.
Where is this office unit located?
The property is located at 1029 Dresser Ct Unit 14 Raleigh, NC.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 1,210 SF office condominium; Four offices, one conference room, and a reception area; Two bathrooms and a kitchenette
