Class A Office
For Sale
Contact for pricing
196 ANNETTE DR, Benson, NC 27504
Modern professional office setting with dedicated workrooms, meeting space, reception, and on-site parking.
Property Size4,000 SF
Lot Size1.25 Acres
Price / SF$325
Days on Market118
Property Features for 196 ANNETTE DR
General Information
Standard status
Active
Size
4,000 SF
Class
A
Total Parking Spaces
23
Lot size
1.25 Acres
Property subtype
Office
Zoning
GB
Investment Type
Owner/User
Building Details
Year Built
2020
Buildings
1
Stories
1
Units
23
Building Size
4,000 SF
Listing Agency:
Eastern Commercial
(919) 697-5320
Listed By:
Charles Barzola · License #NC 248829
Source:
Crexi
Added: May 5
Changed: Aug 30
Last Checked: Aug 30 at 12:24PM
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 Eastern Commercial
Investment Insights
Based on property information with market context.
This 4,000-square-foot Class A office building was completed in 2020 and is configured for a single office or medical office professional services practice. The interior includes six offices, a conference room, reception area, break area, two restrooms, and storage with garage space. GB zoning supports the property’s stated office use.
The building occupies 1.25 acres and provides 23 parking spaces. Its single-user layout combines private work areas with shared meeting and reception functions in a recently constructed professional office setting.
The building occupies 1.25 acres and provides 23 parking spaces. Its single-user layout combines private work areas with shared meeting and reception functions in a recently constructed professional office setting.
Key Highlights
- 4,000 SF Class A office building completed in 2020
- Configured with six offices, conference room, reception, break area, and two restrooms
- Storage and garage space included
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
$61,402
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
4.72%
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%
$1,228,040
$1.2M
Cap Rate 7%
$877,171
$877.2K
Cap Rate 9%
$682,244
$682.2K
Market Conditions
NOI Build-Up for 4,000 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
$98.4K $24.60/SF
− Vacancy
−$16.5K −$4.13/SF
EGI
$81.9K $20.47/SF
− OpEx
−$20.5K −$5.12/SF
NOI
$61.4K $15.35/SF
Area
Johnston County, NC
Vacancy
16.80%
Lease Rate
$24.60 /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%
$1,228,040
Cap Rate 7%
$877,171
Cap Rate 9%
$682,244
Alternative Uses
Best Use
Office B
$877.2K
$767.5K – $1.02M
NOI $61,402 @ 7.0% cap · market cap 4.72%
Second Best
Healthcare Medical
$799.2K
$699.3K – $932.4K
NOI $55,944 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,707 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 27504, NC
16,613
Population
7,140
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
87%
High-School Grad
89.8 sq mi
ZIP Area
185
Density / Sq Mi
$68,376
Median Household Income
$44,481
Median Earnings
$995
Median Rent
$217,400
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 building - Modern professional office setting with dedicated workrooms, meeting space, reception, and on-site parking.
Where is this office building located?
The property is located at 196 ANNETTE DR Benson, NC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 4,000 SF Class A office building completed in 2020; Configured with six offices, conference room, reception, break area, and two restrooms; Storage and garage space included
