Second-Floor Office
202-4002 Barrett Dr Raleigh, NC 27609
202-4002 Barrett Dr, Raleigh, NC, 27609
$274,900
Pending
For Sale
$274,900
Pending
Second-floor office condo with four offices, reception, kitchen, storage, and restroom in a quiet-use building.
Property Size1,016 SF
Days on Market83
Property Features for 202-4002 Barrett Dr
General Information
- Standard status
- Pending
- Size
- 1,016 SF
Listing agency
Keller Williams Elite Realty
(919) 484-2280
Listed by
Michelle Edwards Mitchell · License #121569
(919) 484-2280
Source
Exprealty
Added: May 1 Updated: Jul 22 at 4:22AM Checked: Jul 22 at 4:22AM
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 Keller Williams Elite Realty
Investment Insights
Based on property information with market context.
Professionally managed second-floor office condo available near Midtown Raleigh at 4002 Barrett Drive, Unit 202. The unit is designed for professional services and includes four offices, a reception area, a kitchen area, a storage room, and a restroom, providing a practical layout for a small firm or growing team.
The building is maintained as a quiet-use environment, with restrictions against odor- or noise-producing businesses. Extra parking is available for added convenience.
This offering is presented for sale, with the intent of enabling an owner-user to stop leasing and build equity.
The building is maintained as a quiet-use environment, with restrictions against odor- or noise-producing businesses. Extra parking is available for added convenience.
This offering is presented for sale, with the intent of enabling an owner-user to stop leasing and build equity.
Key Highlights
- Second‑floor office condo at 4002 Barrett Drive, Unit 202, near Midtown Raleigh
- Includes four offices plus a reception area
- Offers a kitchen area, storage room, and restroom
Local 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 | $22.6k | $22.20 |
| − Vacancy | −$3.8k | −$3.73 |
| EGI | $18.8k | $18.47 |
| − OpEx | −$4.7k | −$4.62 |
| NOI | $14.1k | $13.85 |
1,016 SF · lease $22.20/SF/yr · vacancy 16.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$201.1K
$175.9K – $234.6K
NOI $14,074 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$279.2K
$244.3K – $325.8K
NOI $19,545 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Second-floor office condo with four offices, reception, kitchen, storage, and restroom in a quiet-use building.
Where is this office units located?
The property is located at 202-4002 Barrett Dr Raleigh, NC.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: Second‑floor office condo at 4002 Barrett Drive, Unit 202, near Midtown Raleigh; Includes four offices plus a reception area; Offers a kitchen area, storage room, and restroom
