Raleigh Office Condo For
For Sale
Contact for pricing
2805 Spring Forest Rd, Raleigh, NC 27616
2,986 SF office condo, ideal for owner occupant.
Property Size2,986 SF
Price / SF$259.98
Days on Market900
Property Features for 2805 Spring Forest Rd
General Information
Standard status
Active
Size
2,986 SF
Class
B
Property subtype
Office
Investment Type
Owner/User
Listing Agency:
Waldrop Properties Llc
Listed By:
Michael Waldrop · License #NC 158376
(919) 612-6696
Source:
Crexi
Added: May 14, 2024
Changed: Oct 25
Last Checked: Oct 28 at 8:31AM
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 Waldrop Properties Llc
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.
Available for sale is an office condominium comprising approximately 2,986 square feet. The property, identified as Units 101 & 103, is located at 2805 Spring Forest Road in Raleigh. Situated on the first floor, the space benefits from a good glass line. The property will be delivered vacant upon closing. This presents an opportunity for an owner occupant rather than a leased, income-producing investment.
Key Highlights
- Approximately 2,986 square foot office condominium.
- First‑floor location.
- Good glass line.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,836
Cap Rate
5.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$916,720
$916.7K
Cap Rate 7%
$654,800
$654.8K
Cap Rate 9%
$509,289
$509.3K
Market Conditions
NOI Build-Up for 2,986 SF
Gross rent
$73.5K $24.60/SF
− Vacancy
−$12.3K −$4.13/SF
EGI
$61.1K $20.47/SF
− OpEx
−$15.3K −$5.12/SF
NOI
$45.8K $15.35/SF
Area
ZIP 27616
Vacancy
16.80%
Lease Rate
$24.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$916,720
Cap Rate 7%
$654,800
Cap Rate 9%
$509,289
Alternative Uses
Best Use
Office B
$654.8K
$573.0K – $763.9K
NOI $45,836 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$852.6K
$746.0K – $994.7K
NOI $59,680 @ 7.0% cap · market cap 7.69%
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
Location Intelligence
Trade Area within ½ mile
1,283
Businesses Nearby
Explore this area
Business Placement
Demographics for 27616, NC
56,941
Population
24,282
Households
2.3
Avg Household Size
34
Median Age
43%
College-Educated
91%
High-School Grad
22.5 sq mi
ZIP Area
2,531
Density / Sq Mi
$81,534
Median Household Income
$41,601
Median Earnings
$1,514
Median Rent
$314,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - 2,986 SF office condo, ideal for owner occupant.
Where is this office unit located?
The property is located at 2805 Spring Forest Rd Raleigh, NC.
What is the asking price?
The asking price for this property is $776,300.
What are key features of this property?
This property features: Approximately 2,986 square foot office condominium.; First‑floor location.; Good glass line.
