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    630 Davis Dr Morrisville, NC 27560

    Sponsored
    For Lease
    $27 SF/Yr

    Class A Office Space, Newly Renovated

    Lot size:
    57,757 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional Class A office building, located at 630 Davis Drive in Morrisville, North Carolina, offers a variety of executive suite options. Situated in Durham County, near Research Triangle Park and I-885, this 57,757 square foot building underwent extensive renovations in 2022. Multiple tenancy options are available, with spaces ranging from a minimum of 4,874 square feet to a maximum contiguous space of 12,927 square feet. Currently, 25,743 square feet of space is vacant and ready for immediate occupancy. The building boasts modern amenities including one elevator and ample parking, with a ratio of four parking spaces per 1,000 square feet. Built in 1998, this property provides unparalleled access to networking and collaboration opportunities, ideal for businesses in the technology and science sectors. The building's convenient location offers easy access to major transportation routes and a thriving business community. This is a unique opportunity to secure high-quality office space in a prime location within the Research Triangle region. The zip code is 27560.

    Property Features for 630 Davis Dr

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    57,757 SF
    Class
    A
    Total Rate
    133563.06

    Building Details

    Year Built/Renovated
    1998/2022

    Unit(s) available at that property

    Space
    Suite 150
    Size
    7,098 SF
    Rate per SF
    $27
    Space
    Suite 250
    Size
    8,053 SF
    Rate per SF
    $27
    Space
    Suite 205
    Size
    5,718 SF
    Rate per SF
    $27
    Space
    Suite 230 & 250
    Size
    12,927 SF
    Rate per SF
    $27
    Space
    Suite 230
    Size
    4,874 SF
    Rate per SF
    $27

    We can help!

    Listing Contact
    Emily Pfeiffer
    Emily Pfeiffer

    Learn more

    Property Insight Report

    HighLights

    • Class A office building, 57,757 square feet, located at 630 Davis Drive, Morrisville, NC 27560, near Research Triangle Park and I‑885.
    • 25,743 square feet of immediately available space, with suites ranging from 4,874 to 12,927 contiguous square feet.
    • Extensive renovations completed in 2022.
    • On‑site amenities include a fitness center, showers/lockers, outdoor patio seating, and updated elevator.
    • Ample parking (4 spaces per 1,000 sq ft), monument signage available, redesigned lobby with seating and artwork, and revitalized common corridors.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Morrisville
    County
    Durham
    State
    North Carolina
    Longitude
    -78.8641145
    Latitude
    35.8729367

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    FAQs

    What type of property is this?
    Office Property / Space - Class A Office Space, Newly Renovated
    Where is this office property / space located?
    The property is located at 630 Davis Dr Morrisville, NC.
    What is the lease rate?
    The lease rate is $27 SF/Yr.
    What are key features of this property?
    This property features: Class A office building, 57,757 square feet, located at 630 Davis Drive, Morrisville, NC 27560, near Research Triangle Park and I-885.; 25,743 square feet of immediately available space, with suites ranging from 4,874 to 12,927 contiguous square feet.; Extensive renovations completed in 2022.
    Request Owner's contact information
    630 Davis Dr Morrisville, NC 27560
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    Morrisville, NC 27560
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    630 Davis Dr Morrisville, NC 27560
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    We can help!
    Listing Contact
    Emily Pfeiffer
    Emily Pfeiffer
    Real Estate License ID: NC
    Learn more
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