Property profile

1700 Perimeter Park Dr Morrisville, NC 27560

FOR LEASE
Office buildings
Property ID
US53-2194355
79,834 SF 5.06 ac lot Built 1997
Entity Owned 5-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional Class A executive office building, totaling 77,239 square feet, presents a unique single-tenant opportunity in Morrisville, NC. Situated at 1700 Perimeter Park Drive, this three-story building boasts stunning brick and glass construction, offering a prestigious and modern workspace. The property features a generous 14'3" ceiling height throughout, providing ample space and flexibility for various office configurations. With 362 parking spaces, ample parking is ensured for employees and visitors. The building is equipped with robust power infrastructure, including a 750 KVA switch gear with 2000 amps. Located in Wake County, this prime location offers unparalleled convenience, just three minutes from Raleigh-Durham International Airport and easily accessible from I-40 and I-540. On-site amenities include two fitness centers, a conference center, a tenant lounge, a pocket park with a putting green and bocce court, and seven miles of walking trails. The property is also surrounded by a vibrant mix of over 50 restaurants and retailers, providing employees with a wide array of dining and shopping options. This property benefits from responsive, proactive on-site property management, ensuring a seamless and efficient operational experience. This is an exceptional opportunity to acquire a fully vacant, high-quality office building in a thriving location.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1997
Construction BRICK
Total area 79,834 SF
Lot 5.06 ac (220,414 SF)
Zoning code OI
APN 0756.03-04-7824 0239458
UPID US53-2194355

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Factory Production Facility

Location

1700 Perimeter Park Dr Morrisville, NC 27560
Morrisville metro Census 53609 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$12.29M
CAP Approach CAP
by Request
Comparable Approach Comparable
$15.42M
Blend (final) Blend
$14.83M

Owner & transaction history

since 2020
Last sale
$11.6M
5 recorded transactions
2020
$17.4M
2017
Price N/A
2017
$13.6M
2015
$11.6M
1969
Price N/A

Zoning & alternative use

OI · Morrisville, NC
Zoning description

The Office and Institutional District accommodates largescale regional office developments that feature high visual quality and high trip generating uses, including office parks, research and development parks, corporate…

General category CIVIC_INSTITUTIONAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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