Office Condo Units with Wash
For Sale
$475,000
Pending
800 Salem Woods Drive, Raleigh, NC 27615
Commercial Sale, Raleigh, NC
Property Size2,000 SF
Lot Size0.60 Acres
Days on Market1049
Property Features for 800 Salem Woods Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OX-3
Standard status
Pending
Size
2,000 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
Being all of unit 800-103, building A, Salem Woods office park Condominium, an office condominium located in the city o
Tax Annual Amount
1414
Legal Description
Being all of unit 800-103, building A, Salem Woods office park Condominium, an office condominium located in the city o
Amenities
Kitchenette/break room
wash station
Building Details
Year built
1987
Floors in Building
2
Listing Agency:
EXP Realty LLC
(888) 584-9431
Listed By:
Billy Spain
(919) 972-8448
Added: Nov 22, 2023
Changed: Aug 19
Last Checked: Oct 6 at 11:06AM
MLS# 2543246
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,000-square-foot office property comprises condominium units on two levels. The first floor offers an open work area and a wash station, while the second floor includes individual suites along with a kitchenette and break room. The layout provides distinct areas for office functions and contracted employees.
Located at 800 Salem Woods Drive in Raleigh, the property is designated OX-3 and was built in 1987. The reported lot size is 0.6 acres.
Located at 800 Salem Woods Drive in Raleigh, the property is designated OX-3 and was built in 1987. The reported lot size is 0.6 acres.
Key Highlights
- 2,000‑square‑foot office property with condominium units on two levels
- First‑floor open work area with wash station
- Second floor includes individual suites for contracted employees
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,221
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$524,420
$524.4K
Cap Rate 7%
$374,586
$374.6K
Cap Rate 9%
$291,344
$291.3K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$44.9K $22.44/SF
− Vacancy
−$9.9K −$4.96/SF
EGI
$35.0K $17.48/SF
− OpEx
−$8.7K −$4.37/SF
NOI
$26.2K $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%
$524,420
Cap Rate 7%
$374,586
Cap Rate 9%
$291,344
Alternative Uses
Best Use
Office B
$374.6K
$327.8K – $437.0K
NOI $26,221 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$541.0K
$473.4K – $631.1K
NOI $37,868 @ 7.0% cap · market cap 7.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
887
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 - Two-level office configuration includes private suites, a kitchenette, and an open work area.
Where is this office units located?
The property is located at 800 Salem Woods Drive Raleigh, NC.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,000‑square‑foot office property with condominium units on two levels; First‑floor open work area with wash station; Second floor includes individual suites for contracted employees
