Turnkey Flex Property For
For Sale
$2,495,000
5011 Departure Drive, Raleigh, NC 27616
9,840 SF flex property in prime North Raleigh location.
Property Size9,840 SF
Lot Size0.98 Acres
Price / SF$253.56
Days on Market211
Property Features for 5011 Departure Drive
General Information
Standard status
Active
Size
9,840 SF
Lot size
0.98 Acres
Property subtype
Flex
Zoning
IX-3
Site & Location
Neighborhood
Walden Woods
Building Details
Building Size
9,840 SF
Year Built
2006
Listed By:
Chris Burnham
(919) 225-4778
Source:
Maverickpartners
Added: Mar 27
Changed: Oct 4
Last Checked: Oct 23 at 4:04AM
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 Chris Burnham
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Investment Insights
Based on property information with market context.
This stand-alone, single-story, turnkey flex property offers a rare opportunity for investors or owner-occupiers. The 9,840 square foot building is fully leased to established tenants on a month-to-month basis, providing flexibility to maintain it as an investment property, occupy part and collect rent, or occupy the entire space. The property is divided into six separately metered units. The building, situated on 0.98 acres, features an even mix of office/showroom and warehouse space, with five grade-level roll-up doors, extended ceiling heights, 28 on-site parking spaces, and professional curb appeal. Located in prime North Raleigh, between I-440, I-540, and US-1, it offers quick access to RDU, RTP, Downtown Raleigh, and all parts of the Triangle.
Key Highlights
- Prime North Raleigh location with quick access to major routes.
- Turnkey, single‑story flex property** ideal for investment or owner‑occupancy.
- 9,840 sf divided into six separately metered units for flexible usage.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,475
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,529,500
$1.5M
Cap Rate 7%
$1,092,500
$1.1M
Cap Rate 9%
$849,722
$849.7K
Market Conditions
NOI Build-Up for 9,840 SF
Gross rent
$96.8K $9.84/SF
− Vacancy
−$6.9K −$0.70/SF
EGI
$90.0K $9.14/SF
− OpEx
−$13.5K −$1.37/SF
NOI
$76.5K $7.77/SF
Area
ZIP 27616
Vacancy
7.08%
Lease Rate
$9.84 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,529,500
Cap Rate 7%
$1,092,500
Cap Rate 9%
$849,722
Alternative Uses
Best Use
Warehouse
$1.09M
$955.9K – $1.27M
NOI $76,475 @ 7.0% cap · market cap 3.07%
Second Best
Flex RnD
$1.05M
$919.3K – $1.23M
NOI $73,542 @ 7.0% cap · market cap 2.95%
Theoretical Best
Specialty Retail
$2.81M
$2.46M – $3.28M
NOI $196,670 @ 7.0% cap · market cap 7.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,078
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- Rocky Top Catering — 5000 Departure Dr, Raleigh, NC 27616
- Garden On Millbrook Catering — 2400 E Millbrook Rd, Raleigh, NC 27604
- catering concepts — 2411 E Millbrook Rd STE 106, Raleigh, NC 27604
- Rocky Top Bar Services — 5000 departure dr, raleigh, nc 27616
- Chow Time Food Hall — 2411 E Millbrook Rd STE 106, Raleigh, NC 27604
Frequently Asked Questions
What type of property is this?
Flex space - 9,840 SF flex property in prime North Raleigh location.
Where is this flex space located?
The property is located at 5011 Departure Drive Raleigh, NC.
What is the asking price?
The asking price for this property is $2,495,000.
What are key features of this property?
This property features: Prime North Raleigh location with quick access to major routes.; Turnkey, single‑story flex property** ideal for investment or owner‑occupancy.; 9,840 sf divided into six separately metered units for flexible usage.
