Brick Office Condo with
For Sale
$370,000
204-7000 Harps Mill Rd, Raleigh, NC 27615
Move-in-ready office condo featuring a reception area, four offices, conference room, kitchenette, and onsite parking.
Property Size1,182 SF
Price / SF$313.03
Days on Market90
Property Features for 204-7000 Harps Mill Rd
General Information
Standard status
Active
Size
1,182 SF
Additional Details
Furnished
Yes
Highway Access
Yes
Amenities
reception area
conference room
kitchenette/break area
storage room
powder room
onsite parking
close to I-540
dining
shopping
Building Details
Construction
brick
Listing Agency:
Coldwell Banker HPW
(919) 632-1807
Listed By:
Kathy Beacham · License #163225
(919) 632-1807
Source:
Exprealty
Added: May 3
Changed: Jul 23
Last Checked: Jul 30 at 11:48AM
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 Coldwell Banker HPW
Investment Insights
Based on property information with market context.
This beautifully finished brick office condo is move-in ready and offered fully furnished. The layout includes a large, bright, open reception area, four spacious offices with huge windows, and a conference room with French entry doors and a dramatic glass wall. Additional interior improvements include a kitchenette/break area with quartz counters and backsplash, refrigerator, sink, and cabinetry, plus a storage room with built-in file storage. A designer powder room with tile flooring, vanity, and cork wallpaper completes the suite. Solid commercial construction is supported by concrete floors, and the roof is described as newer.
The property is located close to I-540 and near dining and shopping, with plenty of onsite parking. An adjoining office condo is also available if additional space is needed.
Overall, the space is configured for professional office use with multiple private offices, a conference room, and dedicated break and storage areas.
The property is located close to I-540 and near dining and shopping, with plenty of onsite parking. An adjoining office condo is also available if additional space is needed.
Overall, the space is configured for professional office use with multiple private offices, a conference room, and dedicated break and storage areas.
Key Highlights
- Brick office condo with a reception area plus 4 light‑filled offices with large windows
- Conference room with French entry doors and a dramatic glass wall
- Kitchenette/break area with quartz counter and backsplash, plus refrigerator, sink, and cabinetry
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 | $26.5k | $22.44 |
| − Vacancy | −$5.9k | −$4.96 |
| EGI | $20.7k | $17.48 |
| − OpEx | −$5.2k | −$4.37 |
| NOI | $15.5k | $13.11 |
1,182 SF · lease $22.44/SF/yr · vacancy 22.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$221.4K
$193.7K – $258.3K
NOI $15,497 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$319.7K
$279.8K – $373.0K
NOI $22,380 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
470
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
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Frequently Asked Questions
What type of property is this?
Office units - Move-in-ready office condo featuring a reception area, four offices, conference room, kitchenette, and onsite parking.
Where is this office units located?
The property is located at 204-7000 Harps Mill Rd Raleigh, NC.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Brick office condo with a reception area plus 4 light‑filled offices with large windows; Conference room with French entry doors and a dramatic glass wall; Kitchenette/break area with quartz counter and backsplash, plus refrigerator, sink, and cabinetry
