Office Unit With Private
For Sale
Contact for pricing
172-200 Mine Lake Court, Raleigh, NC 27615
End-unit office layout includes reception, private offices, a restroom, and dedicated work space.
Property Size1,000 SF
Price / SF$295
Days on Market18
Property Features for 172-200 Mine Lake Court
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Office
Additional Details
Floor
2
Building Details
Stories
2
Listing Agency:
Insight Property Group Inc
Listed By:
Jimmy Woody · License #NC-187870
(919) 369-1191
Source:
Crexi
Added: Aug 18
Changed: Sep 3
Last Checked: Sep 3 at 2:35AM
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 Insight Property Group Inc
Investment Insights
Based on property information with market context.
This approximately 1,000-square-foot office unit is configured as an end suite on the second floor with walk-up access. The efficient layout includes a reception area, three private offices, a restroom, and a separate work area. End-unit positioning provides natural light, while entry signage and on-site parking support daily business operations.
The property is located at 172-200 Mine Lake Court in Raleigh, North Carolina.
The property is located at 172-200 Mine Lake Court in Raleigh, North Carolina.
Key Highlights
- Approximately 1,000 SF office unit in an end‑suite configuration
- Second‑floor walk‑up access
- Layout includes reception, 3 private offices, restroom, and work area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$13,111
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$262,220
$262.2K
Cap Rate 7%
$187,300
$187.3K
Cap Rate 9%
$145,678
$145.7K
Market Conditions
NOI Build-Up for 1,000 SF
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.
Gross rent
$22.4K $22.44/SF
− Vacancy
−$5.0K −$4.96/SF
EGI
$17.5K $17.48/SF
− OpEx
−$4.4K −$4.37/SF
NOI
$13.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$262,220
Cap Rate 7%
$187,300
Cap Rate 9%
$145,678
Alternative Uses
Best Use
Office B
$187.3K
$163.9K – $218.5K
NOI $13,111 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$270.5K
$236.7K – $315.6K
NOI $18,934 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,374
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - End-unit office layout includes reception, private offices, a restroom, and dedicated work space.
Where is this office units located?
The property is located at 172-200 Mine Lake Court Raleigh, NC.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Approximately 1,000 SF office unit in an end‑suite configuration; Second‑floor walk‑up access; Layout includes reception, 3 private offices, restroom, and work area
