Two-Level Office Condo with Wash
For Sale
$475,000
Pending
800 Salem Woods, Raleigh, NC 27615
Buy a two-level office condo featuring an open first floor and a wash station for day-to-day operational needs.
Property Size2,000 SF
Days on Market765
Property Features for 800 Salem Woods
General Information
Standard status
Pending
Size
2,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,414
Building Details
Year Built
1987
Listing Agency:
EXP REALTY LLC
(888) 584-9431
Listed By:
BILLY SPAIN
(770) 361-7068
Source:
Corcoran
Added: Sep 10, 2024
Changed: Oct 13
Last Checked: Oct 12 at 7:22PM
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
Investment Insights
Based on property information with market context.
This sale includes both the upstairs and downstairs condos, presenting a two-level office configuration. The second floor includes a kitchenette/break room and individual suites suited for contracted employees. On the first floor, the layout offers an open floor plan along with a wash station designed for in-space service needs.
The property is located in Raleigh at a popular intersection, providing straightforward access for staff and customers. The unit mix across floors supports separate operational zones while keeping the overall premises under one ownership.
For an owner-user or a tenant group seeking a contained, multi-suite office arrangement, the second-floor kitchenette and suite layout can support independent work areas, while the first floor’s open plan and wash station accommodate hands-on service functions. This is offered as a purchase rather than a lease, with both levels included in the sale.
The property is located in Raleigh at a popular intersection, providing straightforward access for staff and customers. The unit mix across floors supports separate operational zones while keeping the overall premises under one ownership.
For an owner-user or a tenant group seeking a contained, multi-suite office arrangement, the second-floor kitchenette and suite layout can support independent work areas, while the first floor’s open plan and wash station accommodate hands-on service functions. This is offered as a purchase rather than a lease, with both levels included in the sale.
Key Highlights
- 1987‑built two‑level office condo for sale
- Includes both upstairs and downstairs condos
- Open floor plan on the first floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,221
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$524,420
$524.4K
Cap Rate 7%
$374,586
$374.6K
Cap Rate 9%
$291,344
$291.3K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$44.9K $22.44/SF
− Vacancy
−$9.9K −$4.96/SF
EGI
$35.0K $17.48/SF
− OpEx
−$8.7K −$4.37/SF
NOI
$26.2K $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 Rate 5%
$524,420
Cap Rate 7%
$374,586
Cap Rate 9%
$291,344
Alternative Uses
Best Use
Office B
$374.6K
$327.8K – $437.0K
NOI $26,221 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$541.0K
$473.4K – $631.1K
NOI $37,868 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
887
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
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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 units - Buy a two-level office condo featuring an open first floor and a wash station for day-to-day operational needs.
Where is this office units located?
The property is located at 800 Salem Woods Raleigh, NC.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 1987‑built two‑level office condo for sale; Includes both upstairs and downstairs condos; Open floor plan on the first floor
