Two-Story Office
For Sale
$3,495,000
701 Mutual Ct #100 200, Raleigh, NC 27615
OX-4-zoned office property with elevator access, one leased floor, and a second floor available for customization.
Property Size8,068 SF
Price / SF$433.19
Days on Market49
Property Features for 701 Mutual Ct #100 200
General Information
Standard status
Active
Size
8,068 SF
Elevators
Yes
Property subtype
Commercial
Zoning
OX-4
Property Condition
Severity
Repairs Needed
Evidence
Remaining work includes sheetrock repairs
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
HOA Fee
$208.33
Office Units
2
Building Details
Year Built
2016
Buildings
1
Stories
2
Building Size
8,068 SF
Listed By:
Hope Tyler Home Team
(919) 332-5447
Source:
Hopetylerhometeam
Added: Sep 1
Changed: Oct 9
Last Checked: Oct 19 at 7:10AM
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 Hope Tyler Home Team
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.
701 Mutual Court is an 8,068 SF office building completed in 2016, arranged across two approximately 4,034 SF floors. Suite 100 occupies the first floor and is leased to Alpha Male Wellness, LLC through July 20, 2030, with one additional 5-year renewal option and 3% annual rent escalations. Suite 200 is vacant in vanilla-box condition and includes a reception and waiting area, conference room, seven offices, break room, and designated bathroom areas. Remaining work includes sheetrock repairs, painting, bathroom installation, glass panels, conference room completion, and HVAC ductwork.
The property is located just off Falls of Neuse Road and Strickland Road, approximately 1 mile from I-540 and 0.1 mile from Bent Tree Plaza. Downtown Raleigh is approximately 9 miles away, while RDU International Airport is approximately 12.6 miles away. Nearby GoRaleigh Route 2 service and corridor traffic of approximately 15,000 vehicles per day on Strickland Road and approximately 32,000 vehicles per day on Falls of Neuse Road add practical access and exposure.
Zoned OX-4, Office Mixed Use, the building supports professional office, medical, dental, health services, and other permitted commercial uses. Bank use is prohibited in Suite 200 until December 31, 2028.
The property is located just off Falls of Neuse Road and Strickland Road, approximately 1 mile from I-540 and 0.1 mile from Bent Tree Plaza. Downtown Raleigh is approximately 9 miles away, while RDU International Airport is approximately 12.6 miles away. Nearby GoRaleigh Route 2 service and corridor traffic of approximately 15,000 vehicles per day on Strickland Road and approximately 32,000 vehicles per day on Falls of Neuse Road add practical access and exposure.
Zoned OX-4, Office Mixed Use, the building supports professional office, medical, dental, health services, and other permitted commercial uses. Bank use is prohibited in Suite 200 until December 31, 2028.
Key Highlights
- 8,068 SF office building completed in 2016 with two approximately 4,034 SF floors
- First‑floor Suite 100 is leased through July 20, 2030, with one additional 5‑year renewal option
- Vacant Suite 200 includes seven offices, reception area, conference room, break room, and designated bathroom areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,776
Cap Rate
3.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,115,520
$2.1M
Cap Rate 7%
$1,511,086
$1.5M
Cap Rate 9%
$1,175,289
$1.2M
Market Conditions
NOI Build-Up for 8,068 SF
Gross rent
$181.0K $22.44/SF
− Vacancy
−$40.0K −$4.96/SF
EGI
$141.0K $17.48/SF
− OpEx
−$35.3K −$4.37/SF
NOI
$105.8K $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%
$2,115,520
Cap Rate 7%
$1,511,086
Cap Rate 9%
$1,175,289
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,776 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,760 @ 7.0% cap · market cap 4.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
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 building - OX-4-zoned office property with elevator access, one leased floor, and a second floor available for customization.
Where is this office building located?
The property is located at 701 Mutual Ct #100 200 Raleigh, NC.
What is the asking price?
The asking price for this property is $3,495,000.
What are key features of this property?
This property features: 8,068 SF office building completed in 2016 with two approximately 4,034 SF floors; First‑floor Suite 100 is leased through July 20, 2030, with one additional 5‑year renewal option; Vacant Suite 200 includes seven offices, reception area, conference room, break room, and designated bathroom areas
