Second-Floor Office
For Sale
$199,999
111 Windel Drive Unit 111, Raleigh, NC 27609
Turnkey, recently renovated suite with private offices, reception, kitchenette, and updated finishes.
Property Size526 SF
Price / SF$380.23
Days on Market145
Property Features for 111 Windel Drive Unit 111
General Information
Standard status
Active
Size
526 SF
Property subtype
Office
Building Details
Year Built
1999
Listing Agency:
eXp Realty, LLC - C
(919) 656-4019
Listed By:
Gabie Lambrechtse · License #351446
(919) 656-4019
Source:
Xome
Added: Mar 7
Changed: Jul 10
Last Checked: Jul 16 at 5:12AM
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 eXp Realty, LLC - C
Investment Insights
Based on property information with market context.
This recently renovated second-floor office suite offers a professional, turnkey layout designed for day-to-day operations. The space includes two private offices, a reception area, a half bathroom, and a small kitchenette. Improvements reported with the renovation include new flooring, fresh paint, modern windows, and updated light fixtures throughout.
The property is located one block from the major intersection of Six Forks and Millbrook, providing convenient access to the surrounding business area. No elevator is available, which supports straightforward stair access for occupants and visitors.
For buyers seeking an immediately usable office environment, the configuration supports both client-facing work and internal private offices. The reception area helps manage visitor flow, while the kitchenette and half bathroom add practical convenience for employees and meetings. Reported exterior capital work includes a new roof in 2023, supporting the overall building’s upkeep.
The property is located one block from the major intersection of Six Forks and Millbrook, providing convenient access to the surrounding business area. No elevator is available, which supports straightforward stair access for occupants and visitors.
For buyers seeking an immediately usable office environment, the configuration supports both client-facing work and internal private offices. The reception area helps manage visitor flow, while the kitchenette and half bathroom add practical convenience for employees and meetings. Reported exterior capital work includes a new roof in 2023, supporting the overall building’s upkeep.
Key Highlights
- Recently renovated office suite on the second floor of a 1999‑built building
- Layout includes 2 private offices, a reception area, a half bathroom, and a small kitchenette
- Renovations include new flooring, fresh paint, modern windows, and updated light fixtures throughout
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $11.7k | $22.20 |
| − Vacancy | −$2.0k | −$3.73 |
| EGI | $9.7k | $18.47 |
| − OpEx | −$2.4k | −$4.62 |
| NOI | $7.3k | $13.85 |
526 SF · lease $22.20/SF/yr · vacancy 16.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$104.1K
$91.1K – $121.5K
NOI $7,287 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$144.6K
$126.5K – $168.7K
NOI $10,119 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,165
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Turnkey, recently renovated suite with private offices, reception, kitchenette, and updated finishes.
Where is this office units located?
The property is located at 111 Windel Drive Unit 111 Raleigh, NC.
What is the asking price?
The asking price for this property is $199,999.
What are key features of this property?
This property features: Recently renovated office suite on the second floor of a 1999‑built building; Layout includes 2 private offices, a reception area, a half bathroom, and a small kitchenette; Renovations include new flooring, fresh paint, modern windows, and updated light fixtures throughout
