Two-Level Flex
For Sale
$3,900,000
4550 Preslyn Drive, Raleigh, NC 27616
COMMERCIAL - Raleigh, NC
Property Size11,200 SF
Lot Size1.41 Acres
Price / SF$348.21
Days on Market165
Property Features for 4550 Preslyn Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Standard status
Active
Size
11,200 SF
Lot size
1.41 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LO17 DURANT RD OFF & IND'L PK BM2020-00887
Tax Annual Amount
21311
Legal Description
LO17 DURANT RD OFF & IND'L PK BM2020-00887
Building Details
Year built
2021
Building materials
Stone
Listing Agency:
Century 21 Triangle Group · Century 21 Real Estate
(919) 720-4217
Listed By:
Jose Cruz Labrada · License #312455
(984) 239-8452
Added: Mar 6
Changed: Aug 4
Last Checked: Aug 18 at 7:06PM
MLS# 10150960
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.
Completed in 2021, this two-level flex facility provides 11,200 square feet of usable space, including 8,000 square feet on the main floor and 3,200 square feet below. The building includes one rolling door, five bathrooms, and a main office, supporting a combination of industrial, warehouse, office, retail, and service-oriented functions.
The property is located at 4550 Preslyn Drive in Raleigh and carries IX-3 Industrial Mixed-Use zoning. On-site parking includes 20 spaces, with additional parking available at the rear of the property. Stone construction and the split-level configuration add to the building’s practical commercial layout.
The property is located at 4550 Preslyn Drive in Raleigh and carries IX-3 Industrial Mixed-Use zoning. On-site parking includes 20 spaces, with additional parking available at the rear of the property. Stone construction and the split-level configuration add to the building’s practical commercial layout.
Key Highlights
- 11,200‑square‑foot flex facility completed in 2021
- 8,000 square feet on the main floor plus 3,200 square feet on the lower level
- IX‑3 Industrial Mixed‑Use zoning
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
252
Businesses Nearby
Balanced
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 - Recently built industrial mixed-use facility combining office functionality with warehouse and service-oriented space.
Where is this flex space 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: 11,200‑square‑foot flex facility completed in 2021; 8,000 square feet on the main floor plus 3,200 square feet on the lower level; IX‑3 Industrial Mixed‑Use zoning
