Furnished Office
For Sale
$370,000
Pending
7000 Harps Mill Road # 203, Raleigh, NC 27615
Brick office condo with furnished work areas, conference room, kitchenette, storage, and on-site parking.
Property Size1,176 SF
Days on Market165
Property Features for 7000 Harps Mill Road # 203
General Information
Standard status
Pending
Size
1,176 SF
Property subtype
Office
Additional Details
Furnished
Yes
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,134
Building Details
Building Size
1,176 SF
Year Built
2000
Construction
brick
Listing Agency:
Coldwell Banker HPW
Listed By:
Kathy Beacham · License #163225
(919) 632-1807
Source:
Dustinbennett
Added: May 3
Changed: Oct 3
Last Checked: Oct 13 at 2:41AM
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 Coldwell Banker HPW
Investment Insights
Based on property information with market context.
This 1,176-square-foot brick office condo offers a furnished, functional layout with an open reception area, three workspaces, two private offices, and a conference room enclosed by French entry doors and a glass wall. A kitchenette and break area include quartz counters, backsplash, refrigerator, sink, and cabinetry. The suite also has a storage room and a powder room with tile flooring and a furniture-style vanity. Concrete floors and a newer roof add to the property’s commercial construction profile.
The office is located at 7000 Harps Mill Rd Unit 203 in Raleigh, with access to I-540, dining, and shopping. On-site parking is provided, and the adjoining office condo is also available for users requiring additional space.
The office is located at 7000 Harps Mill Rd Unit 203 in Raleigh, with access to I-540, dining, and shopping. On-site parking is provided, and the adjoining office condo is also available for users requiring additional space.
Key Highlights
- 1,176 SF brick office condo
- Furnished layout with reception, 3 workspaces, 2 private offices, and conference room
- Kitchenette with quartz counters, refrigerator, sink, and cabinetry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,418
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$308,360
$308.4K
Cap Rate 7%
$220,257
$220.3K
Cap Rate 9%
$171,311
$171.3K
Market Conditions
NOI Build-Up for 1,176 SF
Gross rent
$26.4K $22.44/SF
− Vacancy
−$5.8K −$4.96/SF
EGI
$20.6K $17.48/SF
− OpEx
−$5.1K −$4.37/SF
NOI
$15.4K $13.11/SF
Area
ZIP 27615
Vacancy
22.10%
Lease Rate
$22.44 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$308,360
Cap Rate 7%
$220,257
Cap Rate 9%
$171,311
Alternative Uses
Best Use
Office B
$220.3K
$192.7K – $257.0K
NOI $15,418 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$318.1K
$278.3K – $371.1K
NOI $22,266 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 27615, NC
43,010
Population
20,681
Households
2.1
Avg Household Size
43
Median Age
64%
College-Educated
97%
High-School Grad
18.9 sq mi
ZIP Area
2,276
Density / Sq Mi
$107,051
Median Household Income
$60,661
Median Earnings
$1,533
Median Rent
$441,100
Median Home Value
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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 - Brick office condo with furnished work areas, conference room, kitchenette, storage, and on-site parking.
Where is this office units located?
The property is located at 7000 Harps Mill Road # 203 Raleigh, NC.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: 1,176 SF brick office condo; Furnished layout with reception, 3 workspaces, 2 private offices, and conference room; Kitchenette with quartz counters, refrigerator, sink, and cabinetry
