Furnished Office Condo in Holly
For Sale
Contact for pricing
350 Raleigh St, Holly Springs, NC 27540
Move-in ready, 1200 sq ft office space in downtown Holly Springs.
Property Size1,200 SF
Price / SF$333.33
Days on Market166
Property Features for 350 Raleigh St
General Information
Standard status
Active
Size
1,200 SF
Class
B
Property subtype
Office
Building Details
Year Built
1999
Year Renovated
2020
Listing Agency:
Scout Advisors
Listed By:
John Jackson · License #38081
Source:
Crexi
Added: Feb 27
Changed: Aug 11
Last Checked: Aug 12 at 11:21AM
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 Scout Advisors
Investment Insights
Based on property information with market context.
Located in the Village Centre Office Condos complex in Downtown Holly Springs, this 1,200 sq ft office condo is available. The layout includes 4 private offices, a bullpen area with 6 desks, a conference/meeting area, and a private bathroom. The HVAC system was replaced in 2025. The space is fully furnished with desks, chairs, and basic office setup. Situated on the second floor between Main Street and Raleigh Street, the office overlooks the Holly Springs Town Hall. It is near local shops, restaurants, and amenities, including My Way Tavern, Osha Thai Sushi, Vieni Ristobar, and Mama Mia. This location offers access to major roadways and nearby residential areas. This fully equipped office is suitable for small to medium-sized businesses, professional services, or creative teams.
Key Highlights
- Prime Downtown Holly Springs Location: Situated in the desirable Village Centre Office Condos, offering high visibility and proximity to shops, restaurants, and the Town Hall.
- Fully Furnished & Move‑In Ready: Includes desks, chairs, and basic office setup, allowing for immediate occupancy and operation.
- Functional Layout: Features 4 private offices, a bullpen area with 6 desks, and a conference/meeting area, accommodating various work styles.
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
$18,420
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
4.61%
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%
$368,400
$368.4K
Cap Rate 7%
$263,143
$263.1K
Cap Rate 9%
$204,667
$204.7K
Market Conditions
NOI Build-Up for 1,200 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
$29.5K $24.60/SF
− Vacancy
−$5.0K −$4.13/SF
EGI
$24.6K $20.47/SF
− OpEx
−$6.1K −$5.12/SF
NOI
$18.4K $15.35/SF
Area
Wake County, NC
Vacancy
16.80%
Lease Rate
$24.60 /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%
$368,400
Cap Rate 7%
$263,143
Cap Rate 9%
$204,667
Alternative Uses
Best Use
Office B
$263.1K
$230.3K – $307.0K
NOI $18,420 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$342.6K
$299.8K – $399.7K
NOI $23,984 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
Explore this area
Business Placement
Demographics for 27540, NC
44,302
Population
16,400
Households
2.7
Avg Household Size
35
Median Age
65%
College-Educated
95%
High-School Grad
48.0 sq mi
ZIP Area
923
Density / Sq Mi
$125,681
Median Household Income
$69,266
Median Earnings
$1,718
Median Rent
$474,700
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 - Move-in ready, 1200 sq ft office space in downtown Holly Springs.
Where is this office units located?
The property is located at 350 Raleigh St Holly Springs, NC.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Prime Downtown Holly Springs Location: Situated in the desirable Village Centre Office Condos, offering high visibility and proximity to shops, restaurants, and the Town Hall.; Fully Furnished & Move‑In Ready: Includes desks, chairs, and basic office setup, allowing for immediate occupancy and operation.; Functional Layout: Features 4 private offices, a bullpen area with 6 desks, and a conference/meeting area, accommodating various work styles.
