Office Condo in OX-3
For Sale
Contact for pricing
316 West Millbrook Rd, Raleigh, NC 27609
Office condo in a building built in 2000 with OX-3 zoning.
Property Size1,920 SF
Price / SF$250
Days on Market190
Property Features for 316 West Millbrook Rd
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Office
Zoning
OX-3
Investment Type
Owner/User
Site & Location
Neighborhood
Northclift
Building Details
Year Built
2000
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
KW Commercial Raleigh
Listed By:
Diego Munoz · License #NC 273250
(919) 675-2750
Source:
Crexi
Added: Apr 24
Changed: Oct 25
Last Checked: Oct 28 at 7:21AM
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 KW Commercial Raleigh
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,597
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$531,940
$531.9K
Cap Rate 7%
$379,957
$380.0K
Cap Rate 9%
$295,522
$295.5K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$42.6K $22.20/SF
− Vacancy
−$7.2K −$3.73/SF
EGI
$35.5K $18.47/SF
− OpEx
−$8.9K −$4.62/SF
NOI
$26.6K $13.85/SF
Area
Raleigh, NC
Vacancy
16.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$531,940
Cap Rate 7%
$379,957
Cap Rate 9%
$295,522
Alternative Uses
Best Use
Office B
$380.0K
$332.5K – $443.3K
NOI $26,597 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$527.7K
$461.7K – $615.6K
NOI $36,936 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,143
Businesses Nearby
Explore this area
Business Placement
Demographics for 27609, NC
36,218
Population
19,740
Households
1.8
Avg Household Size
38
Median Age
61%
College-Educated
93%
High-School Grad
10.9 sq mi
ZIP Area
3,323
Density / Sq Mi
$81,538
Median Household Income
$53,670
Median Earnings
$1,393
Median Rent
$441,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Office condo in a building built in 2000 with OX-3 zoning.
Where is this office unit located?
The property is located at 316 West Millbrook Rd Raleigh, NC.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Office condo in Raleigh, NC; Building constructed in 2000; OX‑3 zoning
