5540 McNeely Drive, Raleigh, NC 27612

Listing Agency: Atlas Stark Holdings, LLC

Listed By: Trent Ragland

Source: Crexi

Added: Jun 15 Changed: Nov 8 Last Checked: Nov 8 at 7:37AM

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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 Atlas Stark Holdings, LLC

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Investment Insights

Based on property information with market context.

Move-in ready office condo measuring 1,141 SF, currently configured with five private offices, a reception area, built-in storage, and an in-suite kitchenette. The space is presented as an office suite within a condo structure and is suitable for an owner-occupant or tenant seeking a turn-key layout.

The property is located at 5540 McNeely Drive in Raleigh, NC. The listing notes OX-3 zoning.

This suite’s interior layout supports client-facing reception space alongside multiple enclosed offices, with kitchenette amenities in-unit for day-to-day use.

Key Highlights

• 1,141 SF office condo suite in West Raleigh listed for $370,825 ($325/SF)
• Suite layout includes five private offices plus a reception area
• Built‑in storage and an in‑suite kitchenette

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,806

Cap Rate

4.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$316,120 $316.1K

Cap Rate 7%

$225,800 $225.8K

Cap Rate 9%

$175,622 $175.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,141 SF

Gross rent

$25.3K $22.20/SF

− Vacancy

−$4.3K −$3.73/SF

EGI

$21.1K $18.47/SF

− OpEx

−$5.3K −$4.62/SF

NOI

$15.8K $13.85/SF

Area

Raleigh, NC

Vacancy

16.80%

Lease Rate

$22.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$316,120

Cap Rate 7%

$225,800

Cap Rate 9%

$175,622

Alternative Uses

Best Use

Office B

$225.8K

$197.6K – $263.4K (±1% cap)

NOI $15,806 @ 7.0% cap · market cap 4.26%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$313.6K

$274.4K – $365.8K (±1% cap)

NOI $21,950 @ 7.0% cap · market cap 5.92%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Sunshine Employment Resources Employment Agency Edward Jones - Financial ... Financial Advisor Edward Jones - Financial ... Financial Advisor A1 Lift Chairs Furniture & Home Goods The Commons of Duraleigh Ridge Business Service Center

Suggested Use

Top Pick Bakery Food Market Daycare Center Grocery & Convenience Store HVAC Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

779

Businesses Nearby

Explore this area Business Placement

Demographics for 27612, NC

39,576

Population

21,582

Households

1.8

Avg Household Size

38

Median Age

66%

College-Educated

96%

High-School Grad

16.6 sq mi

ZIP Area

2,384

Density / Sq Mi

$95,565

Median Household Income

$57,216

Median Earnings

$1,544

Median Rent

$481,500

Median Home Value

Market

Average Price Trend$/SF for Office Units in Raleigh, NC

$294 Jul

$293 Aug

$250 Sep

$241 Oct

Properties on Market for Office Units in Raleigh

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Condo suite offers five private offices plus reception, storage, and an in-suite kitchenette.

Where is this office unit located?

The property is located at 5540 McNeely Drive Raleigh, NC.

What is the asking price?

The asking price for this property is $370,825.

What are key features of this property?

This property features: 1,141 SF office condo suite in West Raleigh listed for $370,825 ($325/SF); Suite layout includes five private offices plus a reception area; Built‑in storage and an in‑suite kitchenette