Flex Building with Gym
For Sale
$4,899,000
4400 Old Poole Road B, Raleigh, NC 27610
Building B combines office rooms, kitchen and restrooms with an approximately 10,000 sf gym area for flexible programming.
Property Size25,500 SF
Price / SF$192.12
Days on Market124
Property Features for 4400 Old Poole Road B
General Information
Standard status
Active
Size
25,500 SF
Property subtype
Mixed Use
Additional Details
Office Units
11
Building Details
Year Built
1997
Listing Agency:
Grason Realty, LLC
Listed By:
Beverly Robinson · License #212379
(919) 801-9662
Source:
Rubyhenderson
Added: Jun 18
Changed: Oct 3
Last Checked: Oct 7 at 1:52PM
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
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Investment Insights
Based on property information with market context.
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.
Key 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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$376,160
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,523,200
$7.5M
Cap Rate 7%
$5,373,714
$5.4M
Cap Rate 9%
$4,179,556
$4.2M
Market Conditions
NOI Build-Up for 25,500 SF
Gross rent
$602.8K $23.64/SF
− Vacancy
−$101.3K −$3.97/SF
EGI
$501.5K $19.67/SF
− OpEx
−$125.4K −$4.92/SF
NOI
$376.2K $14.75/SF
Area
ZIP 27610
Vacancy
16.80%
Lease Rate
$23.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,523,200
Cap Rate 7%
$5,373,714
Cap Rate 9%
$4,179,556
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 authorities.
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Current Use
Lease Details
11
Office units
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27610, NC
75,164
Population
29,245
Households
2.6
Avg Household Size
34
Median Age
28%
College-Educated
86%
High-School Grad
45.2 sq mi
ZIP Area
1,663
Density / Sq Mi
$66,245
Median Household Income
$37,582
Median Earnings
$1,319
Median Rent
$260,300
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
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 Road B 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
