Modern Flex Building in
For Sale
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4550 Preslyn Drive, Raleigh, NC 27616
11,200 SF flex building built in 2021 for sale.
Property Size11,200 SF
Lot Size1.24 Acres
Price / SF$348.21
Days on Market268
Property Features for 4550 Preslyn Drive
General Information
Standard status
Active
Size
11,200 SF
Class
A
Lot size
1.24 Acres
Property subtype
Office, Industrial
Zoning
IX-3
Investment Type
Owner/User
Building Details
Year Built
2021
Buildings
1
Stories
2
Listing Agency:
Century 21 Triangle Group - Flanagan CRE Team
(919) 302-3298
Listed By:
Jose Cruz · License #312455
Source:
Crexi
Added: Nov 17, 2025
Changed: Aug 8
Last Checked: Aug 11 at 7:12PM
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 - Flanagan CRE Team
Investment Insights
Based on property information with market context.
This 11,200-square-foot flex building, constructed in 2021, is situated on a 1.24-acre site. Zoned IX-3 (Industrial Mixed-Use), the property accommodates a range of uses, including light industrial, office, retail, and service-oriented businesses. The two-level design features 8,000 square feet on the main floor and an additional 3,200 square feet on the lower level, with one rolling door. The property includes 5 bathrooms, with one in the main office and four for employees and customers. There are 20 parking spaces, with additional parking available in the back.
Key Highlights
- Built in 2021: Enjoy modern construction and systems.
- IX‑3 Zoning: Allows for a wide range of uses.
- 11,200 sq ft Facility: Substantial space suitable for various business operations.
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
$154,560
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
3.96%
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%
$3,091,200
$3.1M
Cap Rate 7%
$2,208,000
$2.2M
Cap Rate 9%
$1,717,333
$1.7M
Market Conditions
NOI Build-Up for 11,200 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
$268.8K $24.00/SF
− Vacancy
−$21.5K −$1.92/SF
EGI
$247.3K $22.08/SF
− OpEx
−$92.7K −$8.28/SF
NOI
$154.6K $13.80/SF
Area
ZIP 27616
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$3,091,200
Cap Rate 7%
$2,208,000
Cap Rate 9%
$1,717,333
Alternative Uses
Best Use
Mixed Use
$2.21M
$1.93M – $2.58M
NOI $154,560 @ 7.0% cap · market cap 3.96%
Second Best
Warehouse
$1.24M
$1.09M – $1.45M
NOI $87,044 @ 7.0% cap · market cap 2.23%
Theoretical Best
Specialty Retail
$3.20M
$2.80M – $3.73M
NOI $223,852 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 27616, NC
56,941
Population
24,282
Households
2.3
Avg Household Size
34
Median Age
43%
College-Educated
91%
High-School Grad
22.5 sq mi
ZIP Area
2,531
Density / Sq Mi
$81,534
Median Household Income
$41,601
Median Earnings
$1,514
Median Rent
$314,800
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 11,200 SF flex building built in 2021 for sale.
Where is this mixed-use property located?
The property is located at 4550 Preslyn Drive Raleigh, NC.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Built in 2021: Enjoy modern construction and systems.; IX‑3 Zoning: Allows for a wide range of uses.; 11,200 sq ft Facility: Substantial space suitable for various business operations.
