Flex Building with Gym
4400 Old Poole, Raleigh, NC 27610
Building B combines office rooms, kitchen and restrooms with an approximately 10,000 sf gym area for flexible programming.
Type:Commercial
Property size:
25,500 SFPrice / SF:
$192/SF- Added:
- Sep 10, 2024
- Days on Market:
- 653
- Last Refresh:
- Jun 20 at 7:12 am
Property Features for 4400 Old Poole
General Information
- Standard status
- Active
- Size
- 25,500 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1997
Listing office GRASON REALTY, LLC (919) 801-9662
Listing date Sep 10, 2024
Source Corcoran
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 GRASON REALTY, LLC
HighLights
- 25,000 SF facility (Building B) built in 1997 with office room layout plus an approx. 10,000 SF gym area
- Building B includes 3 single offices, 1 triple‑sized room, 3 double‑sized rooms, and 4 single‑sized rooms
- Amenities include kitchen space, storage room, and multi‑stall plus single‑stall restrooms
- Lease options: rooms available individually or full‑building lease; room rental rates range from $900 to $2,600/month
- Gym space available for lease and priced separately
- Short‑term daily rentals available at $45/hour to $100/hour depending on room size and use
Overview
Building B within an expansive campus facility offers a mix of office and training space designed for adaptable use. The office layout includes three single offices, one triple-sized room, three double-sized rooms, and four single-sized rooms. Additional improvements include kitchen space and a storage room, along with multi-stall and single-stall restrooms. The property also includes an approximately 10,000 sf gym area, supporting workout and activity-based operations.
The campus is set in a rural setting. Only Building B is for sale, while there are two buildings on the campus. There is no sign or lockbox on the property, and access and detailed pricing information are available through the listing agent.
The configuration lends itself to multiple tenant and operator needs, including workout space, photo studio use, flex workspace, private events, after-school programs, and school-related programming. Rooms may be made available individually or as a full-building lease, and room rental rates range from $900 to $2,600 per month. Gym space is available for lease and priced separately, and short-term daily rentals are available from $45 per hour to $100 per hour depending on room size and use.
The campus is set in a rural setting. Only Building B is for sale, while there are two buildings on the campus. There is no sign or lockbox on the property, and access and detailed pricing information are available through the listing agent.
The configuration lends itself to multiple tenant and operator needs, including workout space, photo studio use, flex workspace, private events, after-school programs, and school-related programming. Rooms may be made available individually or as a full-building lease, and room rental rates range from $900 to $2,600 per month. Gym space is available for lease and priced separately, and short-term daily rentals are available from $45 per hour to $100 per hour depending on room size and use.
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 | $602.8k | $23.64 |
| − Vacancy | −$101.3k | −$3.97 |
| EGI | $501.5k | $19.67 |
| − OpEx | −$125.4k | −$4.92 |
| NOI | $376.2k | $14.75 |
25,500 SF · lease $23.64/SF/yr · vacancy 16.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$5.37M
$4.70M – $6.27M
NOI $376,160 @ 7.0% cap · market cap 7.68%
Second Best
Industrial
$3.36M
$2.94M – $3.92M
NOI $235,016 @ 7.0% cap · market cap 4.80%
Theoretical Best
Specialty Retail
$7.48M
$6.54M – $8.72M
NOI $523,260 @ 7.0% cap · market cap 10.68%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Life Center
Church
Abundant Life Christian ...
Church
Arrow Christian Preschool
Daycare Center
North Carolina Second ...
Church
Diversified Resources For
Daycare Center
Similar Places Nearby
- Elle Et Moi Catering — 5122 mass rock dr, raleigh, nc 27610
Location Insight
- Map
- Local Demand
- City
- Raleigh
- County
- Wake
- State
- North Carolina
- Longitude
- -78.5658453
- Latitude
- 35.7624899
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - Building B combines office rooms, kitchen and restrooms with an approximately 10,000 sf gym area for flexible programming.
Where is this flex space located?
The property is located at 4400 Old Poole Raleigh, NC.
What is the asking price?
The asking price for this property is $4,899,000.
What are key features of this property?
This property features: 25,000 SF facility (Building B) built in 1997 with office room layout plus an approx. 10,000 SF gym area; Building B includes 3 single offices, 1 triple‑sized room, 3 double‑sized rooms, and 4 single‑sized rooms; Amenities include kitchen space, storage room, and multi‑stall plus single‑stall restrooms
