Raleigh Office Condo For
For Sale
Contact for pricing
2805 Spring Forest Rd, Raleigh, NC 27616
2,986 SF office condo, ideal for owner occupant.
Property Size2,986 SF
Price / SF$259.98
Days on Market809
Property Features for 2805 Spring Forest Rd
General Information
Standard status
Active
Size
2,986 SF
Property subtype
Office
Listing Agency:
Waldrop Properties Llc
(919) 645-1605
Listed By:
Michael Waldrop · License #NC 158376
Source:
Crexi
Added: May 14, 2024
Changed: Jul 10
Last Checked: Jul 30 at 4:00PM
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 Waldrop Properties Llc
Investment Insights
Based on property information with market context.
Available for sale is an office condominium comprising approximately 2,986 square feet. The property, identified as Units 101 & 103, is located at 2805 Spring Forest Road in Raleigh. Situated on the first floor, the space benefits from a good glass line. The property will be delivered vacant upon closing. This presents an opportunity for an owner occupant rather than a leased, income-producing investment.
Key Highlights
- Approximately 2,986 square foot office condominium.
- First‑floor location.
- Good glass line.
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 | $73.5k | $24.60 |
| − Vacancy | −$12.3k | −$4.13 |
| EGI | $61.1k | $20.47 |
| − OpEx | −$15.3k | −$5.12 |
| NOI | $45.8k | $15.35 |
2,986 SF · lease $24.60/SF/yr · vacancy 16.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$654.8K
$573.0K – $763.9K
NOI $45,836 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$852.6K
$746.0K – $994.7K
NOI $59,680 @ 7.0% cap · market cap 7.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
Business Placement
Demographics for 27616, NC
56,941
Population
24,282
Households
2.3
Avg Household Size
34
Median Age
43%
College-Educated
91%
High-School Grad
22.5 sq mi
ZIP Area
2,531
Density / Sq Mi
$81,534
Median Household Income
$41,601
Median Earnings
$1,514
Median Rent
$314,800
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 - 2,986 SF office condo, ideal for owner occupant.
Where is this office units located?
The property is located at 2805 Spring Forest Rd Raleigh, NC.
What is the asking price?
The asking price for this property is $776,300.
What are key features of this property?
This property features: Approximately 2,986 square foot office condominium.; First‑floor location.; Good glass line.
