Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Creative Retail and Office Space Title is generated by Realmo AI

    508 Airport Blvd, Morrisville, NC 27560

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Creative retail and office spaces designed for innovators.

    Type:Retail
    Property size:
    12,090 SF
    Added:
    Nov 22, 2025
    Days on Market:
    196
    Last Refresh:
    May 19 at 9:13 pm

    Property Features for 508 Airport Blvd

    General Information

    Standard status
    Active
    Size
    12,090 SF
    Property subtype
    Retail

    Spaces For Lease

    at 508 Airport Blvd Contact us

    We can help!

    Listing Contact
    Tiffany Barrier
    Tiffany Barrier

    Listing agent Tiffany Barrier

    Listing office CBRE | Raleigh

    Listing date Nov 22, 2025

    Source Cbre

    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 CBRE | Raleigh

    HighLights

    • Designed to bring innovators together.
    • Empowers a new generation of life‑science professionals.
    • Focus on placemaking.
    • Offers a range of spaces.
    • Multiple functions.
    • Designed to uncover the next lifechanging breakthrough.

    Overview

    This property, identified as suitable for retail, creative, and office use, emphasizes placemaking and offers a range of spaces designed to bring innovators together. The collective design aims to empower a new generation of life-science professionals, fostering an environment conducive to uncovering life-changing breakthroughs. The property provides a total area of 12090 square feet.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Dental Office Auto Repair Shop Hair Salon Building Supply Big Box & Wholesale Store Auto Parts Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morrisville
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8265456
    Latitude
    35.8462691

    Nearby Similar for Lease

    • $20 SF/Yr
      36,000 SF

      Flex Space with Drive-In Access

      Modern flex facility with storefront entrances and two rear drive-in doors, suited for office, institutional, light industrial, or assembly use.
      117 International Drive, Morrisville, NC 27560
      View Details
    • Sponsored
      Contact for pricing

      NC, Morrisville- Gateway Center Blvd

      3300 Gateway Centre Blvd, Morrisville, NC 27560
      View Details
    • $25 SF/Yr
      10,793 SF

      Prime Office Space Near RDU

      Conveniently located office space with immediate occupancy and airport access.
      3000 RDU Center Drive, Morrisville, North Carolina 27560
      View Details
    • $1,476,300 SF/Yr
      4,921 SF

      First Floor Office Condo

      Office condo available for sale or lease in February 2026.
      5920 S Miami Boulevard, Suite 101, Morrisville, North Carolina 27560
      View Details
    • $19 SF/Yr
      36,000 SF

      Flexible Commercial Space in Morrisville

      Adaptable commercial property in the heart of the Research Triangle.
      117 International Dr, Morrisville, NC
      View Details
    • $25 SF/Yr
      77,864 SF

      Plug-and-Play Office Sublease Opportunity

      Class A office suite available for short-term sublease in Morrisville.
      2803 Slater Rd, Morrisville, NC 27560
      View Details
    • $33 SF/Yr
      5,016 SF

      Class A Office Space

      Class A office space available for lease.
      1550 Aviation Parkway, Morrisville, North Carolina 27560
      View Details
    • $32 SF/Yr
      204,000 SF

      Modern Class A Office Building

      Class A office building in Perimeter Park near RDU Airport.
      3005 Carrington Mill Blvd, Morrisville, NC 27560
      View Details
    • $28 SF/Yr
      80,279 SF

      Class A Office Building

      Three-story Class A office building in corporate park setting.
      1500 Perimeter Park Drive, Morrisville, NC 27560
      View Details
    • $33 SF/Yr
      196,057 SF

      Modern Class-A Office Building

      Class-A office building near Raleigh-Durham Airport with modern amenities.
      3025 Carrington Mill Blvd, Morrisville, NC 27560
      View Details
    • $28 SF/Yr
      54,592 SF

      Class A Office Building

      Two-story office building with amenities and easy highway access.
      2000 Perimeter Park Dr, Morrisville, NC 27560
      View Details
    • $32 SF/Yr
      247,328 SF

      Modern Office Space in Morrisville

      Modern office building in a master-planned development near RDU.
      3015 Carrington Mill Blvd, Morrisville, NC 27560
      View Details

    FAQs

    What type of property is this?
    Retail space - Creative retail and office spaces designed for innovators.
    Where is this retail space located?
    The property is located at 508 Airport Blvd Morrisville, NC.
    What are key features of this property?
    This property features: Designed to bring innovators together.; Empowers a new generation of life‑science professionals.; Focus on placemaking.
    (919) 831-8257
    We can help!
    Listing Contact
    Tiffany Barrier
    Tiffany Barrier
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    508 Airport Blvd, Morrisville , NC, 27560
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!