Raleigh Commercial Office
For Sale
Contact for pricing
3200 Fairhill Dr, Raleigh, NC 27612
Well-located commercial office condominium in Raleigh, North Carolina.
Property Size4,600 SF
Price / SF$293.48
Days on Market165
Property Features for 3200 Fairhill Dr
General Information
Standard status
Active
Size
4,600 SF
Class
B
Property subtype
Office
Zoning
OX-4
Investment Type
Owner/User
Building Details
Year Built
2005
Buildings
1
Stories
1
Units
1
Listing Agency:
Rich Commercial Realty
Listed By:
Sam DiFranco Jr · License #NC 270959
Source:
Crexi
Added: Mar 10
Changed: Aug 15
Last Checked: Aug 19 at 6:29PM
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 Rich Commercial Realty
Investment Insights
Based on property information with market context.
The property at 3200 Fairhill Drive is a commercial office condominium in Raleigh, North Carolina. It offers functional office space suitable for professional, medical, or service-oriented users seeking ownership. The suite features a practical layout designed to support efficient day-to-day operations, with a mix of private offices, collaborative workspace, and supporting areas. The property benefits from accessibility to major transportation routes, providing connectivity to surrounding Raleigh business districts, residential neighborhoods, and nearby amenities. Located within a professionally maintained office condominium development, the property provides ample parking and a professional environment for businesses serving the greater Raleigh market. The property size is 4600 square feet. This opportunity is ideal for owner-users seeking long-term control of occupancy costs or investors looking to acquire well-positioned office space in a growing market.
Key Highlights
- Well‑located commercial office condominium in Raleigh, North Carolina.
- Functional office space suitable for professional, medical, or service‑oriented users.
- Practical layout with a mix of private offices and collaborative workspace.
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
$63,723
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
4.72%
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%
$1,274,460
$1.3M
Cap Rate 7%
$910,329
$910.3K
Cap Rate 9%
$708,033
$708.0K
Market Conditions
NOI Build-Up for 4,600 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
$102.1K $22.20/SF
− Vacancy
−$17.2K −$3.73/SF
EGI
$85.0K $18.47/SF
− OpEx
−$21.2K −$4.62/SF
NOI
$63.7K $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 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%
$1,274,460
Cap Rate 7%
$910,329
Cap Rate 9%
$708,033
Alternative Uses
Best Use
Office B
$910.3K
$796.5K – $1.06M
NOI $63,723 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.26M
$1.11M – $1.47M
NOI $88,493 @ 7.0% cap · market cap 6.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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 - Well-located commercial office condominium in Raleigh, North Carolina.
Where is this office units located?
The property is located at 3200 Fairhill Dr Raleigh, NC.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Well‑located commercial office condominium in Raleigh, North Carolina.; Functional office space suitable for professional, medical, or service‑oriented users.; Practical layout with a mix of private offices and collaborative workspace.
