Flexible Gym Facility with Office
For Sale
$4,899,000
4400 Old Poole Road, Raleigh, NC 27610
COMMERCIAL - Raleigh, NC
Property Size25,000 SF
Price / SF$192.12
Days on Market958
Property Features for 4400 Old Poole Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R-6
Exterior features
Fenced Yard
Fencing
Fenced, Chain Link
Lot features
Cleared, Level
Standard status
Active
APN
0005047
Size
25,500 SF
Taxes and HOA fees
Tax Year
2023
Tax Description
LO1 Abundant Life Church of God Inc 02-1197
Tax Annual Amount
62143
Legal Description
LO1 Abundant Life Church of God Inc 02-1197
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
Kitchen space
Storage room
Restrooms
Building Details
Year built
1997
Flooring type
Tile - Ceramic, Concrete
Building materials
Brick
Listing Agency:
Grason Realty, LLC
(919) 801-9662
Listed By:
Beverly Robinson · License #212379
(919) 801-9662
Added: Jan 11, 2024
Changed: Aug 4
Last Checked: Aug 26 at 8:06AM
MLS# 10005806
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flexible gym facility totals 25,000 SF, with Building B offered for sale as part of a two-building campus. Building B includes an office and room layout with three single offices, one triple-sized room, three double-sized rooms, and four single-sized rooms, plus kitchen space, a storage room, multi-stall and single-stall restrooms, and approximately 10,000 SF of gym area.
The building is finished with brick construction and concrete and ceramic tile flooring. Central heating and central air are provided. Outdoor space includes a fenced yard with chain link fencing.
Built in 1997, the property connects to public water and public sewer, with phone available. Access and leasing information are available through the listing agent; there is no sign or lockbox on the property. Lease options include rooms available individually or as a full-building lease, and gym space is available for lease separately.
The building is finished with brick construction and concrete and ceramic tile flooring. Central heating and central air are provided. Outdoor space includes a fenced yard with chain link fencing.
Built in 1997, the property connects to public water and public sewer, with phone available. Access and leasing information are available through the listing agent; there is no sign or lockbox on the property. Lease options include rooms available individually or as a full-building lease, and gym space is available for lease separately.
Key Highlights
- 25,000 SF facility with Building B offered for sale on a two‑building campus
- Approximately 10,000 SF gym area within Building B
- Office and room layout: 3 single offices, 1 triple‑sized room, 3 double‑sized rooms, 4 single‑sized rooms
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
$235,016
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
4.80%
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%
$4,700,320
$4.7M
Cap Rate 7%
$3,357,371
$3.4M
Cap Rate 9%
$2,611,289
$2.6M
Market Conditions
NOI Build-Up for 25,500 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
$364.1K $14.28/SF
− Vacancy
−$28.4K −$1.11/SF
EGI
$335.7K $13.17/SF
− OpEx
−$100.7K −$3.95/SF
NOI
$235.0K $9.22/SF
Area
ZIP 27610
Vacancy
7.80%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
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%
$4,700,320
Cap Rate 7%
$3,357,371
Cap Rate 9%
$2,611,289
Alternative Uses
Best Use
Industrial
$3.36M
$2.94M – $3.92M
NOI $235,016 @ 7.0% cap · market cap 4.80%
Second Best
Flex RnD
$3.20M
$2.80M – $3.73M
NOI $223,727 @ 7.0% cap · market cap 4.57%
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Fitness center & gym - R-6 zoned gym facility with fenced yard, central HVAC, and public water and sewer.
Where is this fitness center & gym located?
The property is located at 4400 Old Poole Road 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 with Building B offered for sale on a two‑building campus; Approximately 10,000 SF gym area within Building B; Office and room layout: 3 single offices, 1 triple‑sized room, 3 double‑sized rooms, 4 single‑sized rooms
