First-Floor Office
For Sale
$290,000
Pending
102-4004 Barrett Dr, Raleigh, NC 27609
First-floor office condo in a commercial building, offered for sale with additional unit availability nearby.
Property Size1,008 SF
Days on Market478
Property Features for 102-4004 Barrett Dr
General Information
Standard status
Pending
Size
1,008 SF
Listing Agency:
Long & Foster Real Estate INC/Raleigh
(919) 740-3267
Listed By:
Mark Connor
(919) 740-3267
Source:
Exprealty
Added: Apr 10, 2025
Changed: Jul 25
Last Checked: Jul 30 at 5:09PM
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 Long & Foster Real Estate INC/Raleigh
Investment Insights
Based on property information with market context.
This first-floor office condo is available for sale and is set up for business use within a commercial building. The space is described as featuring attractive decor and details intended for use by both staff and visiting clients. Unit 101 is also available for sale if additional space is needed.
The property is located in the Midtown area of Raleigh, and is described as being just minutes from North Hills.
As a 1st floor unit with office condo configuration, it offers a straightforward, accessible option for an owner-occupant or tenant seeking dedicated office space within the building.
The property is located in the Midtown area of Raleigh, and is described as being just minutes from North Hills.
As a 1st floor unit with office condo configuration, it offers a straightforward, accessible option for an owner-occupant or tenant seeking dedicated office space within the building.
Key Highlights
- First‑floor office condo in a commercial building, available for sale
- Offered with unit 101 also available for sale if you need additional space
- Located in the Midtown area, just minutes from North Hills
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 | $22.4k | $22.20 |
| − Vacancy | −$3.8k | −$3.73 |
| EGI | $18.6k | $18.47 |
| − OpEx | −$4.7k | −$4.62 |
| NOI | $14.0k | $13.85 |
1,008 SF · lease $22.20/SF/yr · vacancy 16.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$199.5K
$174.6K – $232.7K
NOI $13,964 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$277.0K
$242.4K – $323.2K
NOI $19,391 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,474
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 - First-floor office condo in a commercial building, offered for sale with additional unit availability nearby.
Where is this office units located?
The property is located at 102-4004 Barrett Dr Raleigh, NC.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: First‑floor office condo in a commercial building, available for sale; Offered with unit 101 also available for sale if you need additional space; Located in the Midtown area, just minutes from North Hills
