Office Condominium with Conference
New
For Sale
$500,000
3130 Fairhill Drive Suite 106, Raleigh, NC 27612
Efficient suite layout includes enclosed offices, workstations, a break area, and available furniture.
Property Size1,424 SF
Price / SF$351.12
Days on Market2
Property Features for 3130 Fairhill Drive Suite 106
General Information
Standard status
Active
Size
1,424 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Office Units
1
Listing Agency:
(252) 292-9242
Listed By:
Emma Lantz
(252) 292-9242
Source:
Svn
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 6:27AM
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 Emma Lantz
Investment Insights
Based on property information with market context.
This 1,424-square-foot office condominium at Glenwood Office Commons offers a practical layout for professional or medical office use. The suite contains a conference room, break area, 2 enclosed offices, and multiple workstations. Furniture may be included in the sale, and the space has been professionally maintained.
The property provides access to US-70, I-440, and I-540, with RDU International Airport, Downtown Raleigh, Crabtree Valley Mall, and Pleasant Valley Shopping Center described as minutes away. On-site parking and maintained common areas support daily business operations.
The configuration may suit an owner-user, professional service firm, medical practice, consulting operation, specialty service user, or investor seeking office condominium ownership.
The property provides access to US-70, I-440, and I-540, with RDU International Airport, Downtown Raleigh, Crabtree Valley Mall, and Pleasant Valley Shopping Center described as minutes away. On-site parking and maintained common areas support daily business operations.
The configuration may suit an owner-user, professional service firm, medical practice, consulting operation, specialty service user, or investor seeking office condominium ownership.
Key Highlights
- 1,424‑square‑foot office condominium at Glenwood Office Commons
- Suite includes a conference room, break area, 2 enclosed offices, and multiple workstations
- Furniture may be included in the sale
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
$22,046
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
4.41%
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%
$440,920
$440.9K
Cap Rate 7%
$314,943
$314.9K
Cap Rate 9%
$244,956
$245.0K
Market Conditions
NOI Build-Up for 1,424 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
$40.2K $28.20/SF
− Vacancy
−$3.4K −$2.40/SF
EGI
$36.7K $25.80/SF
− OpEx
−$14.7K −$10.32/SF
NOI
$22.0K $15.48/SF
Area
Raleigh, NC
Vacancy
8.50%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
40.00%
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%
$440,920
Cap Rate 7%
$314,943
Cap Rate 9%
$244,956
Alternative Uses
Best Use
Healthcare Medical
$314.9K
$275.6K – $367.4K
NOI $22,046 @ 7.0% cap · market cap 4.41%
Second Best
Office B
$281.8K
$246.6K – $328.8K
NOI $19,726 @ 7.0% cap · market cap 3.95%
Theoretical Best
Specialty Retail
$391.3K
$342.4K – $456.6K
NOI $27,394 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
Explore this area
Business Placement
Demographics for 27612, NC
39,576
Population
21,582
Households
1.8
Avg Household Size
38
Median Age
66%
College-Educated
96%
High-School Grad
16.6 sq mi
ZIP Area
2,384
Density / Sq Mi
$95,565
Median Household Income
$57,216
Median Earnings
$1,544
Median Rent
$481,500
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 - Efficient suite layout includes enclosed offices, workstations, a break area, and available furniture.
Where is this office units located?
The property is located at 3130 Fairhill Drive Suite 106 Raleigh, NC.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 1,424‑square‑foot office condominium at Glenwood Office Commons; Suite includes a conference room, break area, 2 enclosed offices, and multiple workstations; Furniture may be included in the sale
