Single-Tenant Office
For Sale
$650,000
108 Justice Heights St, Apex, NC 27502
Recent interior renovation and a 2024 roof update complement the existing office improvements.
Property Size1,536 SF
Days on Market69
Property Features for 108 Justice Heights St
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Office
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Building Size
1,536 SF
Year Built
1986
Tenancy
Single
Listing Agency:
Lee & Associates - Raleigh Durham
Listed By:
Alyssa Stepusin Byrd · License #298106
(919) 482-0660
Source:
Lee-associates
Added: Aug 8
Changed: Oct 13
Last Checked: Oct 14 at 9:01PM
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 Lee & Associates - Raleigh Durham
Investment Insights
Based on property information with market context.
This single-tenant office property is fully leased under a modified gross lease, with the current term extending through August 31, 2029. Contractual rent escalations of 3% annually are in place, and the lease includes three two-year renewal options. The modified gross structure limits landlord responsibilities under the existing arrangement.
Property improvements include a new roof completed in 2024 and a recently renovated interior. The office is within walking distance of Downtown Apex and provides convenient access to US 64 and NC 540.
Property improvements include a new roof completed in 2024 and a recently renovated interior. The office is within walking distance of Downtown Apex and provides convenient access to US 64 and NC 540.
Key Highlights
- Fully leased to a single office tenant
- Lease term runs through August 31, 2029
- Three two‑year renewal options included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,578
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,560
$471.6K
Cap Rate 7%
$336,829
$336.8K
Cap Rate 9%
$261,978
$262.0K
Market Conditions
NOI Build-Up for 1,536 SF
Gross rent
$37.8K $24.60/SF
− Vacancy
−$6.3K −$4.13/SF
EGI
$31.4K $20.47/SF
− OpEx
−$7.9K −$5.12/SF
NOI
$23.6K $15.35/SF
Area
Wake County, NC
Vacancy
16.80%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$471,560
Cap Rate 7%
$336,829
Cap Rate 9%
$261,978
Alternative Uses
Best Use
Office B
$336.8K
$294.7K – $393.0K
NOI $23,578 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$438.6K
$383.8K – $511.7K
NOI $30,700 @ 7.0% cap · market cap 4.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
329
Businesses Nearby
Explore this area
Business Placement
Demographics for 27502, NC
45,725
Population
17,607
Households
2.6
Avg Household Size
37
Median Age
66%
College-Educated
97%
High-School Grad
28.3 sq mi
ZIP Area
1,616
Density / Sq Mi
$137,088
Median Household Income
$73,848
Median Earnings
$1,786
Median Rent
$491,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Recent interior renovation and a 2024 roof update complement the existing office improvements.
Where is this office building located?
The property is located at 108 Justice Heights St Apex, NC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Fully leased to a single office tenant; Lease term runs through August 31, 2029; Three two‑year renewal options included
