Office Mixed-Use
405 Morson Street Unit 405 Raleigh, NC 27601
For Sale
$895,000
Two-story commercial building offers office and mixed-use flexibility under OX-3 zoning.
Property Size2,025 SF
Price / SF$441.98
Days on Market157
Property Features for 405 Morson Street Unit 405
General Information
- Standard status
- Active
- Size
- 2,025 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1910
Listing Agency:
Century 21 Triangle Group
(984) 239-8452
Listed By:
Jose Cruz Labrada · License #312455
(984) 239-8452
Source:
Xome
Added: Feb 17
Changed: Jul 23
Last Checked: Jul 23 at 6:15PM
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 Century 21 Triangle Group
Investment Insights
Based on property information with market context.
This two-story commercial building provides approximately 2,025 square feet and is positioned for office use and other mixed-use applications permitted under OX-3 zoning (Office Mixed Use - up to 3 stories). The property may be suitable for professional offices, creative studios, small business headquarters, or live-work concepts, depending on the allowed uses.
The building is located near Downtown Raleigh, providing convenient access to major employment centers, restaurants, retail, and surrounding residential neighborhoods.
Zoning allows building heights up to three stories, offering the potential to support future expansion or redevelopment subject to applicable approvals.
The building is located near Downtown Raleigh, providing convenient access to major employment centers, restaurants, retail, and surrounding residential neighborhoods.
Zoning allows building heights up to three stories, offering the potential to support future expansion or redevelopment subject to applicable approvals.
Key Highlights
- 2,025 SF commercial building at 405 Morson St in Raleigh, NC
- OX‑3 (Office Mixed Use) zoning allows up to 3 stories
- Zoning supports a variety of commercial and mixed‑use applications
Financial Insights For Mixed Use
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 | $49.8k | $24.60 |
| − Vacancy | −$5.0k | −$2.46 |
| EGI | $44.8k | $22.14 |
| − OpEx | −$16.8k | −$8.30 |
| NOI | $28.0k | $13.84 |
2,025 SF · lease $24.60/SF/yr · vacancy 10.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$400.7K
$350.7K – $467.5K
NOI $28,052 @ 7.0% cap · market cap 3.13%
Second Best
Mixed Use
$400.3K
$350.3K – $467.0K
NOI $28,021 @ 7.0% cap · market cap 3.13%
Theoretical Best
Specialty Retail
$556.5K
$487.0K – $649.3K
NOI $38,956 @ 7.0% cap · market cap 4.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cynthia Watson, LCSW
Photography Service
Rusmed Consultants
Home Health Care Service
FAQs
What type of property is this?
Live-work space - Two-story commercial building offers office and mixed-use flexibility under OX-3 zoning.
Where is this live-work space located?
The property is located at 405 Morson Street Unit 405 Raleigh, NC.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: 2,025 SF commercial building at 405 Morson St in Raleigh, NC; OX‑3 (Office Mixed Use) zoning allows up to 3 stories; Zoning supports a variety of commercial and mixed‑use applications
