Three-Unit Office
502 Mcknight Drive, Knightdale, NC 27545
For Sale
$1,300,000
Commercial Sale, Knightdale, NC
Property Size3,650 SF
Price / SF$356.16
Days on Market155
Property Features for 502 Mcknight Drive
General Information
Property type
Property subtype
Zoning
Subdivision
Directions
Standard status
APN
Size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Building Details
Year built
Number of units
Building materials
Listing Agency:
Keller Williams Realty Points East
(252) 355-6000
Listed By:
Timothy Ferruzzi · License NC #89665
(910) 729-9180
Added: Jun 12
Changed: Oct 18
Last Checked: Nov 13 at 6:06AM
MLS# 100581306
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The office property at 502 McKnight Drive is arranged as three units identified as A, B, and C. The 3,650-square-foot building has brick construction, natural gas heating, and a 2000 year of construction.
Located in Knightdale, North Carolina, the property is zoned NMX.
Located in Knightdale, North Carolina, the property is zoned NMX.
Key Highlights
- Three separate units identified as A, B, and C
- 3,650 square feet
- Brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,842
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,076,840
$1.1M
Cap Rate 7%
$769,171
$769.2K
Cap Rate 9%
$598,244
$598.2K
Market Conditions
NOI Build-Up for 3,650 SF
Gross rent
$86.3K $23.64/SF
− Vacancy
−$14.5K −$3.97/SF
EGI
$71.8K $19.67/SF
− OpEx
−$17.9K −$4.92/SF
NOI
$53.8K $14.75/SF
Area
Wake County, NC
Vacancy
16.80%
Lease Rate
$23.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,076,840
Cap Rate 7%
$769,171
Cap Rate 9%
$598,244
Alternative Uses
Best Use
Office B
$769.2K
$673.0K – $897.4K
NOI $53,842 @ 7.0% cap · market cap 4.14%
Second Best
Healthcare Medical
$724.8K
$634.2K – $845.7K
NOI $50,739 @ 7.0% cap · market cap 3.90%
Theoretical Best
Retail
$925.2K
$809.5K – $1.08M
NOI $64,763 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
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Current Use
Lease Details
3
Office units
3
Residential units
Location Intelligence
Trade Area within ½ mile
735
Businesses Nearby
Explore this area
Business Placement
Demographics for 27545, NC
32,567
Population
12,781
Households
2.5
Avg Household Size
36
Median Age
36%
College-Educated
89%
High-School Grad
31.6 sq mi
ZIP Area
1,031
Density / Sq Mi
$85,400
Median Household Income
$46,629
Median Earnings
$1,560
Median Rent
$301,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office buildings in Wake County, NC
Properties on Market for Office buildings in Wake County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Brick office property configured as three separate units, with natural gas heating.
Where is this office building located?
The property is located at 502 Mcknight Drive Knightdale, NC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Three separate units identified as A, B, and C; 3,650 square feet; Brick construction
