Building Details

Year Built 1998

Year Renovated 2016

Buildings 1

Units 1

Listing Agency: Cushman & Wakefield

Listed By: Brandt Berry · License #347159

Source: Crexi

Added: Aug 26 Changed: Oct 2 Last Checked: Oct 23 at 7:00AM

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

Suite 101 is a 6,249-square-foot retail space within a commercial property built in 1998. The asset carries OX-3 zoning and is positioned for an owner-user seeking a visible retail setting along Creedmoor Road.

The property benefits from reported traffic of 31,500 VPD on Creedmoor Road and convenient access to I-540. Brennan Station Shopping Center is within walking distance and includes Trader Joe’s along with restaurants, retail offerings, and daily conveniences.

Key Highlights

• 6,249‑square‑foot retail suite
• Suite 101 in a 1998‑built commercial property
• OX‑3 zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$80,115

Cap Rate

4.71%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,602,300 $1.6M

Cap Rate 7%

$1,144,500 $1.1M

Cap Rate 9%

$890,167 $890.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,249 SF

Gross rent

$123.7K $19.80/SF

− Vacancy

−$9.3K −$1.49/SF

EGI

$114.5K $18.32/SF

− OpEx

−$34.3K −$5.49/SF

NOI

$80.1K $12.82/SF

Area

ZIP 27613

Vacancy

7.50%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,602,300

Cap Rate 7%

$1,144,500

Cap Rate 9%

$890,167

Alternative Uses

Best Use

Retail

$1.14M

$1.00M – $1.34M (±1% cap)

NOI $80,115 @ 7.0% cap · market cap 4.71%

Second Best

Office B

$1.13M

$987.1K – $1.32M (±1% cap)

NOI $78,971 @ 7.0% cap · market cap 4.65%

Theoretical Best

Office A

$1.63M

$1.42M – $1.90M (±1% cap)

NOI $113,907 @ 7.0% cap · market cap 6.70%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Sleep Disorder Dentistry ... Dental Office Pain Management of Cary Physician WNNL Radio Station Radio One Raleigh Radio Station K97.5fm Radio Station

Suggested Use

Top Pick Building Supply Auto Repair Shop Restaurant Big Box & Wholesale Store Law Firm Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

31,500 VPD

Traffic count

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

628

Businesses Nearby

Explore this area Business Placement

Demographics for 27613, NC

46,969

Population

20,099

Households

2.3

Avg Household Size

39

Median Age

68%

College-Educated

98%

High-School Grad

25.5 sq mi

ZIP Area

1,842

Density / Sq Mi

$119,362

Median Household Income

$70,722

Median Earnings

$1,478

Median Rent

$478,600

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - Owner-user retail space with prominent Creedmoor Road exposure, OX-3 zoning, and access to nearby shopping and dining.

Where is this retail space located?

The property is located at 8001 Creedmoor Road Raleigh, NC.

What is the asking price?

The asking price for this property is $1,700,000.

What are key features of this property?

This property features: 6,249‑square‑foot retail suite; Suite 101 in a 1998‑built commercial property; OX‑3 zoning