Mixed-Use Condominium
New
For Sale
$1,450,000
444 S Blount Street 110, Raleigh, NC 27601
Two connected units combine a wellness-oriented fitness space with a separate two-story live-work residence.
Property Size3,630 SF
Days on Market6
Property Features for 444 S Blount Street 110
General Information
Standard status
Active
Size
3,630 SF
Property subtype
Retail
Site & Location
Neighborhood
Fayetteville Street
Building Details
Building Size
3,630 SF
Year Built
2006
Listing Agency:
Shelton Properties by KW
Listed By:
Nash William Patton · License #325952
(803) 622-1585
Source:
Dustinbennett
Added: Oct 29
Changed: Oct 31
Last Checked: Nov 1 at 2:54PM
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 Shelton Properties by KW
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Investment Insights
Based on property information with market context.
This mixed-use condominium offering brings together two adjoining units with 3,630+- SF in total. The 2,445+- SF first unit is configured for wellness and fitness, with specialized heating systems, elevator access, locker rooms, showers, a reception area, and finished interiors. The neighboring 1,185+- SF unit is arranged across two stories for live-work use. The property was built in 2006.
Palladium Plaza is in downtown Raleigh, at 444 S Blount Street. The surrounding area is described as walkable, with approximately 20,000 residents within one mile and average household incomes above $124,000. Both condominium units are offered together.
Palladium Plaza is in downtown Raleigh, at 444 S Blount Street. The surrounding area is described as walkable, with approximately 20,000 residents within one mile and average household incomes above $124,000. Both condominium units are offered together.
Key Highlights
- Two adjoining condominiums total 3,630+- SF
- Fitness unit includes specialized heating, elevator access, locker rooms, showers, and reception
- 2,445+- SF fitness and wellness unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,286
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,720
$1.0M
Cap Rate 7%
$718,371
$718.4K
Cap Rate 9%
$558,733
$558.7K
Market Conditions
NOI Build-Up for 3,630 SF
Gross rent
$80.6K $22.20/SF
− Vacancy
−$13.5K −$3.73/SF
EGI
$67.0K $18.47/SF
− OpEx
−$16.8K −$4.62/SF
NOI
$50.3K $13.85/SF
Area
Raleigh, NC
Vacancy
16.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,720
Cap Rate 7%
$718,371
Cap Rate 9%
$558,733
Alternative Uses
Best Use
Office B
$718.4K
$628.6K – $838.1K
NOI $50,286 @ 7.0% cap · market cap 3.47%
Second Best
Mixed Use
$717.6K
$627.9K – $837.2K
NOI $50,230 @ 7.0% cap · market cap 3.46%
Theoretical Best
Specialty Retail
$997.6K
$872.9K – $1.16M
NOI $69,832 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
4,359
Businesses Nearby
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Business Placement
Demographics for 27601, NC
9,965
Population
4,874
Households
2
Avg Household Size
32
Median Age
49%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
5,536
Density / Sq Mi
$70,433
Median Household Income
$51,443
Median Earnings
$1,499
Median Rent
$572,600
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two connected units combine a wellness-oriented fitness space with a separate two-story live-work residence.
Where is this mixed-use property located?
The property is located at 444 S Blount Street 110 Raleigh, NC.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Two adjoining condominiums total 3,630+- SF; Fitness unit includes specialized heating, elevator access, locker rooms, showers, and reception; 2,445+- SF fitness and wellness unit
