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8801 Fast Park Dr, Raleigh, NC 27617
Well-maintained office space with contemporary finishes and prime location.
Property Size1,879 SF
Price / SF$329.96
Days on Market211
Property Features for 8801 Fast Park Dr
General Information
Standard status
Active
Size
1,879 SF
Property subtype
Office
Zoning
IX-3 (Airport Overlay)
Net Operating Income
$40,534
Building Details
Year Built
2009
Listing Agency:
SVN Raleigh
(919) 227-9943
Listed By:
Thomas Goodwin · License #NC 288723
Source:
Crexi
Added: Jan 24
Changed: Aug 8
Last Checked: Aug 17 at 2:41PM
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 SVN Raleigh
Investment Insights
Based on property information with market context.
The property at 8801 Fast Park Drive offers office space featuring contemporary finishes and solid core doors. The building's exterior is constructed with attractive masonry. Elevator access is available, along with suite signage and an electronic building directory. The location provides access to I-40 and RDU International Airport, near the intersection of the I-540 Beltline and Hwy 70 (Glenwood Ave.). The property is situated in a desirable area of Raleigh and comprises 1879 square feet.
Key Highlights
- Prime location near I‑540 and Hwy 70 (Glenwood Ave.) offering quick access to I‑40 and RDU International Airport.
- Sophisticated, contemporary finishes and attractive masonry exterior.
- Elevator access.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,029
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$520,580
$520.6K
Cap Rate 7%
$371,843
$371.8K
Cap Rate 9%
$289,211
$289.2K
Market Conditions
NOI Build-Up for 1,879 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.7K $22.20/SF
− Vacancy
−$7.0K −$3.73/SF
EGI
$34.7K $18.47/SF
− OpEx
−$8.7K −$4.62/SF
NOI
$26.0K $13.85/SF
Area
Raleigh, NC
Vacancy
16.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$520,580
Cap Rate 7%
$371,843
Cap Rate 9%
$289,211
Alternative Uses
Best Use
Office B
$371.8K
$325.4K – $433.8K
NOI $26,029 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$516.4K
$451.8K – $602.5K
NOI $36,147 @ 7.0% cap · market cap 5.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 27617, NC
20,968
Population
10,522
Households
2
Avg Household Size
36
Median Age
63%
College-Educated
98%
High-School Grad
8.3 sq mi
ZIP Area
2,526
Density / Sq Mi
$109,991
Median Household Income
$69,203
Median Earnings
$1,679
Median Rent
$448,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-maintained office space with contemporary finishes and prime location.
Where is this office units located?
The property is located at 8801 Fast Park Dr Raleigh, NC.
What is the asking price?
The asking price for this property is $620,000.
What are key features of this property?
This property features: Prime location near I‑540 and Hwy 70 (Glenwood Ave.) offering quick access to I‑40 and RDU International Airport.; Sophisticated, contemporary finishes and attractive masonry exterior.; Elevator access.
