Office Unit with Maintained
For Sale
$620,000
8801 Fast Park Dr. Ste. 101, Raleigh, NC 27617
Professionally managed office condominium with maintained original roof and HVAC systems in a modern office development.
Property Size32,513 SF
Price / SF$329.96
Days on Market154
Property Features for 8801 Fast Park Dr. Ste. 101
General Information
Standard status
Active
Size
32,513 SF
Net Rentable
1,879 SF
Class
B
Property subtype
Multi Tenant Office
Zoning
IX-3
Additional Details
HOA Fee
$557.77
Highway Access
Yes
Building Details
Building Size
32,513 SF
Year Built
2008
Tenancy
Multi
Listing Agency:
SVN Raleigh
(919) 455-1284
Listed By:
Marci Robertson
(919) 455-1284
Source:
Thebrokerlist
Added: Mar 31
Changed: Aug 30
Last Checked: Aug 30 at 3:12PM
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.
This office condominium provides approximately 1,879 rentable square feet within a professionally managed commercial building. The property is part of a 32,513 SF building containing 2 units sold separately. Original roof and HVAC systems have been maintained, and the space is positioned for general office, professional services, or medical use. Water is included through the building’s operating arrangement.
The property is located at 8801 Fast Park Dr., Ste. 101, Raleigh, NC 27617, in Wake County. The surrounding area includes corporate headquarters, dining, retail, Research Triangle Park, and RDU International Airport. Access to major highways and nearby business amenities supports convenient connectivity for office users and visitors.
The property is located at 8801 Fast Park Dr., Ste. 101, Raleigh, NC 27617, in Wake County. The surrounding area includes corporate headquarters, dining, retail, Research Triangle Park, and RDU International Airport. Access to major highways and nearby business amenities supports convenient connectivity for office users and visitors.
Key Highlights
- Approximately ±1,879 RSF office condominium
- Located at 8801 Fast Park Dr., Ste. 101, Raleigh, NC 27617
- Part of a 32,513 SF building with 2 units sold separately
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
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
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 - Professionally managed office condominium with maintained original roof and HVAC systems in a modern office development.
Where is this office units located?
The property is located at 8801 Fast Park Dr. Ste. 101 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: Approximately ±1,879 RSF office condominium; Located at 8801 Fast Park Dr., Ste. 101, Raleigh, NC 27617; Part of a 32,513 SF building with 2 units sold separately
