Apex Office Building For
1701 Center St, Apex, NC 27502
For Sale
Contact for pricing
Two-story office building with high visibility and versatile space.
Property Size10,912 SF
Lot Size1.35 Acres
Price / SF$302.42
Days on Market705
Property Features for 1701 Center St
General Information
Standard status
Size
Class
Lot size
Property subtype
Zoning
Investment Type
Building Details
Year Built
Buildings
Stories
Listing Agency:
INK Realty Group
Listed By:
Eddie Pershin · License #NC 218358
Source:
Crexi
Added: Dec 5, 2024
Changed: Oct 25
Last Checked: Nov 8 at 6:57AM
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 INK Realty Group
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Investment Insights
Based on property information with market context.
This property features a 10,912 square foot, two-story office building situated on a 1.35-acre parcel. Constructed in 2004, the building is located at a traffic light intersection on heavily traveled Center Street, with traffic counts exceeding 22,385 vehicles per day. The location offers great visibility. The building is suited for neighborhood business use, including office, medical office, professional services, fitness club, and educational facilities. The versatile space is designed to accommodate a variety of business needs, providing an opportunity for businesses seeking a functional environment.
Key Highlights
- High‑visibility location at a traffic light intersection on heavily traveled Center St (22,385 vpd)
- Versatile 10,912 SF space suitable for various business types
- Modern construction (built in 2004)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,967
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,219,340
$3.2M
Cap Rate 7%
$2,299,529
$2.3M
Cap Rate 9%
$1,788,522
$1.8M
Market Conditions
NOI Build-Up for 10,912 SF
Gross rent
$258.0K $23.64/SF
− Vacancy
−$43.3K −$3.97/SF
EGI
$214.6K $19.67/SF
− OpEx
−$53.7K −$4.92/SF
NOI
$161.0K $14.75/SF
Area
Wake County, NC
Vacancy
16.80%
Lease Rate
$23.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,219,340
Cap Rate 7%
$2,299,529
Cap Rate 9%
$1,788,522
Alternative Uses
Best Use
Office B
$2.30M
$2.01M – $2.68M
NOI $160,967 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$2.77M
$2.42M – $3.23M
NOI $193,615 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
356
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
$491,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Wake County, NC
Properties on Market for Office buildings in Wake County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Two-story office building with high visibility and versatile space.
Where is this office building located?
The property is located at 1701 Center St Apex, NC.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: High‑visibility location at a traffic light intersection on heavily traveled Center St (22,385 vpd); Versatile 10,912 SF space suitable for various business types; Modern construction (built in 2004)
