Two-Level Flex
For Sale
$3,900,000
4550 Preslyn Drive Unit 4550, Raleigh, NC 27616
IX-3 zoning supports industrial, office, retail, and service-oriented business uses.
Property Size11,200 SF
Price / SF$348.21
Days on Market224
Property Features for 4550 Preslyn Drive Unit 4550
General Information
Standard status
Active
Size
11,200 SF
Property subtype
Office
Taxes and HOA fees
Annual Taxes
$21,311
Amenities
3
Building Details
Year Built
2021
Listing Agency:
Century 21 Triangle Group
(984) 239-8452
Listed By:
Jose Cruz Labrada · License #312455
(984) 239-8452
Source:
Xome
Added: Jan 18
Changed: Aug 30
Last Checked: Aug 30 at 1:41PM
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
Investment Insights
Based on property information with market context.
Located at 4550 Preslyn Drive Unit 4550 in Raleigh, this flex space was built in 2021 and contains 11,200 square feet across two levels. The main floor provides 8,000 square feet, while the lower level adds 3,200 square feet. One rolling door supports material movement and operational use. The building also includes five bathrooms, including one serving the main office and four designated for employees and customers.
The property occupies 1.24 acres and provides 20 parking spaces, with additional parking available at the rear. IX-3 Industrial Mixed-Use zoning allows for light industrial, office, retail, and service-oriented business uses, giving the property a broad functional profile within its stated zoning framework.
The property occupies 1.24 acres and provides 20 parking spaces, with additional parking available at the rear. IX-3 Industrial Mixed-Use zoning allows for light industrial, office, retail, and service-oriented business uses, giving the property a broad functional profile within its stated zoning framework.
Key Highlights
- 11,200‑square‑foot flex facility built in 2021
- Two‑level layout with 8,000 square feet on the main floor and 3,200 square feet below
- 1.24‑acre site at 4550 Preslyn Drive Unit 4550, Raleigh, NC 27616
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
$171,924
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
4.41%
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%
$3,438,480
$3.4M
Cap Rate 7%
$2,456,057
$2.5M
Cap Rate 9%
$1,910,267
$1.9M
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
$275.5K $24.60/SF
− Vacancy
−$46.3K −$4.13/SF
EGI
$229.2K $20.47/SF
− OpEx
−$57.3K −$5.12/SF
NOI
$171.9K $15.35/SF
Area
ZIP 27616
Vacancy
16.80%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
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%
$3,438,480
Cap Rate 7%
$2,456,057
Cap Rate 9%
$1,910,267
Alternative Uses
Best Use
Office B
$2.46M
$2.15M – $2.87M
NOI $171,924 @ 7.0% cap · market cap 4.41%
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
295
Businesses Nearby
Well-served
Demand for This Use
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 Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - IX-3 zoning supports industrial, office, retail, and service-oriented business uses.
Where is this flex space located?
The property is located at 4550 Preslyn Drive Unit 4550 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: 11,200‑square‑foot flex facility built in 2021; Two‑level layout with 8,000 square feet on the main floor and 3,200 square feet below; 1.24‑acre site at 4550 Preslyn Drive Unit 4550, Raleigh, NC 27616
