Customizable Office
For Sale
$1,650,000
701 Mutual Court #200, Raleigh, NC 27615
The second-floor space has a defined office layout and requires a full interior build-out.
Property Size4,034 SF
Price / SF$409.02
Days on Market325
Property Features for 701 Mutual Court #200
General Information
Standard status
Active
Size
4,034 SF
Total Parking Spaces
26
Elevators
Yes
Property subtype
Commercial
Zoning
OX-4
Property Condition
Severity
Major Repairs Needed
Evidence
needs a full build-out
Space & Availability
Floor
2
Condition
Shell
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Property Use
Office
Amenities
Open Floorplan
Tray Ceiling(s)
Building Details
Building Size
4,034 SF
Year Built
2016
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
Eggleston Real Estate Consulting Inc
Listed By:
Tammy Eggleston · License #295289
(336) 214-4230
Source:
Egglestonrealestate
Added: Dec 2, 2025
Changed: Oct 23
Last Checked: Oct 23 at 4:07PM
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 Eggleston Real Estate Consulting Inc
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Offered for sale is the 4,034-square-foot second-floor suite at 701 Mutual Court in Raleigh. The 2016 building has elevator service and a lobby. The suite is in vanilla box condition and needs a full build-out, including HVAC distribution, two bathrooms, interior glass at several offices, and repairs and finishes. Its existing plan includes seven offices, an entry lobby and waiting area, a framed conference room, and a framed break room. The first-floor suite is not included in the sale.
The property is near Falls of Neuse Road and Strickland Road, with access to Highway 540, Downtown Raleigh, and RDU International Airport. A GoRaleigh bus stop is located in the cul-de-sac. The parcel carries OX-4 Office Mixed Use zoning. Bank use is restricted through December 18, 2028.
The property is near Falls of Neuse Road and Strickland Road, with access to Highway 540, Downtown Raleigh, and RDU International Airport. A GoRaleigh bus stop is located in the cul-de-sac. The parcel carries OX-4 Office Mixed Use zoning. Bank use is restricted through December 18, 2028.
Key Highlights
- 4,034‑square‑foot second‑floor office suite offered separately from the first floor
- Vanilla box condition; full interior build‑out required
- Existing plan includes seven offices, lobby and waiting area, conference room, and break room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,888
Cap Rate
3.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,057,760
$1.1M
Cap Rate 7%
$755,543
$755.5K
Cap Rate 9%
$587,644
$587.6K
Market Conditions
NOI Build-Up for 4,034 SF
Gross rent
$90.5K $22.44/SF
− Vacancy
−$20.0K −$4.96/SF
EGI
$70.5K $17.48/SF
− OpEx
−$17.6K −$4.37/SF
NOI
$52.9K $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%
$1,057,760
Cap Rate 7%
$755,543
Cap Rate 9%
$587,644
Alternative Uses
Best Use
Office B
$755.5K
$661.1K – $881.5K
NOI $52,888 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.09M
$954.8K – $1.27M
NOI $76,380 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,078
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
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The second-floor space has a defined office layout and requires a full interior build-out.
Where is this office unit located?
The property is located at 701 Mutual Court #200 Raleigh, NC.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 4,034‑square‑foot second‑floor office suite offered separately from the first floor; Vanilla box condition; full interior build‑out required; Existing plan includes seven offices, lobby and waiting area, conference room, and break room
