Office Condo with Private
For Sale
Contact for pricing
5540 McNeely Drive Suite 303, Raleigh, NC 27612
A second-floor suite pairs a three-office layout with a break area and private restroom.
Property Size724 SF
Price / SF$325
Days on Market10
Property Features for 5540 McNeely Drive Suite 303
General Information
Standard status
Active
Size
724 SF
Property subtype
Office
Additional Details
Floor
2
Highway Access
Yes
Listing Agency:
SVN Raleigh
Listed By:
Owen Mickle · License #362566
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 26 at 4:51AM
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 SVN Raleigh
Investment Insights
Based on property information with market context.
This 724-square-foot office condominium is arranged with three private offices, a break area, and an in-suite restroom. Recent interior work includes new carpet, paint, and lighting. The unit is on the second floor at 5540 McNeely Drive, Suite 303, in Raleigh.
The property sits just off Duraleigh Road, with access to I-440, Glenwood Avenue, and Edwards Mill Road. Downtown Raleigh and RDU Airport are among the destinations reachable from the location.
The property sits just off Duraleigh Road, with access to I-440, Glenwood Avenue, and Edwards Mill Road. Downtown Raleigh and RDU Airport are among the destinations reachable from the location.
Key Highlights
- 724‑square‑foot office condominium on the second floor
- Three private offices, a break area, and an in‑suite restroom
- New carpet, paint, and lighting
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
$10,029
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
4.26%
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%
$200,580
$200.6K
Cap Rate 7%
$143,271
$143.3K
Cap Rate 9%
$111,433
$111.4K
Market Conditions
NOI Build-Up for 724 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
$16.1K $22.20/SF
− Vacancy
−$2.7K −$3.73/SF
EGI
$13.4K $18.47/SF
− OpEx
−$3.3K −$4.62/SF
NOI
$10.0K $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 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%
$200,580
Cap Rate 7%
$143,271
Cap Rate 9%
$111,433
Alternative Uses
Best Use
Office B
$143.3K
$125.4K – $167.2K
NOI $10,029 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$199.0K
$174.1K – $232.1K
NOI $13,928 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - A second-floor suite pairs a three-office layout with a break area and private restroom.
Where is this office units located?
The property is located at 5540 McNeely Drive Suite 303 Raleigh, NC.
What is the asking price?
The asking price for this property is $235,300.
What are key features of this property?
This property features: 724‑square‑foot office condominium on the second floor; Three private offices, a break area, and an in‑suite restroom; New carpet, paint, and lighting
