Office Condo in OX-3
316 W Millbrook Rd Raleigh, NC 27609
316 W Millbrook Rd, Raleigh, NC, 27609
Contact for pricing
For Sale
Contact for pricing
Pending
Office condo in a building built in 2000 with OX-3 zoning.
Property Size977 SF
Days on Market191
Property Features for 316 W Millbrook Rd
General Information
- Standard status
- Pending
- Size
- 977 SF
- Property subtype
- Office
Building Details
- Year Built
- 2000
Listing agency
Hershal Commercial
(919) 737-5742
Listed by
Hershal Pleasant · License #NC 271011
Source
Crexi
Added: Jan 12 Updated: Jul 22 at 1:20AM Checked: Jul 22 at 1:20AM
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 Hershal Commercial
Investment Insights
Based on property information with market context.
This office condo is located within a commercial building built in 2000. The property is classified as Office Units/Office Spaces and is available for sale.
The property is listed under OX-3 zoning. The recorded site address is 316 W Millbrook Rd, Raleigh, NC 27609.
Given its condo structure, the unit offers an ownership path within a multi-unit office building while remaining under the stated OX-3 zoning designation.
The property is listed under OX-3 zoning. The recorded site address is 316 W Millbrook Rd, Raleigh, NC 27609.
Given its condo structure, the unit offers an ownership path within a multi-unit office building while remaining under the stated OX-3 zoning designation.
Key Highlights
- Office condo in Raleigh, NC
- Building constructed in 2000
- OX‑3 zoning
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 | $21.7k | $22.20 |
| − Vacancy | −$3.6k | −$3.73 |
| EGI | $18.0k | $18.47 |
| − OpEx | −$4.5k | −$4.62 |
| NOI | $13.5k | $13.85 |
977 SF · lease $22.20/SF/yr · vacancy 16.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$193.3K
$169.2K – $225.6K
NOI $13,534 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$268.5K
$234.9K – $313.3K
NOI $18,795 @ 7.0% cap · market cap 6.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
DNA North America ...
Paternity Testing Service
Patricia Gibbons Law
Law Firm
Lueur Studio Skin ...
Medical Clinic
Automotive Service and Tire ...
Association / Organization
Slush Skin Care ...
Spa & Massage Center
Similar For Sale Nearby
FAQs
What type of property is this?
Office units - Office condo in a building built in 2000 with OX-3 zoning.
Where is this office units located?
The property is located at 316 W Millbrook Rd Raleigh, NC.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Office condo in Raleigh, NC; Building constructed in 2000; OX‑3 zoning
