Property profile

4505 Falls Of Neuse Rd Raleigh, NC 27609

FOR LEASE
Office buildings
Property ID
US53-5648861
116,352 SF 3.49 ac lot Built 1984
Entity Owned 2-yr Hold Free & Clear
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Property summary

AI-generated overview

Somerset, located at 4505 + 4515 Falls of Neuse Road in Raleigh, NC 27609, offers a prime opportunity for businesses seeking executive office space in Wake County. This Class A office building boasts a total of 169,700 square feet, with 70,875 square feet currently vacant and available for lease. Multiple tenancy options are available, ranging from a minimum of 1,582 square feet to a maximum contiguous space of 9,348 square feet. The building's convenient location near Midtown Raleigh provides easy access to a wide array of restaurants, shopping, fitness centers, and entertainment venues, catering to the needs of today's workforce. The property is ideally situated for businesses seeking a vibrant and accessible location. This exceptional office space presents a unique opportunity to establish or expand your business in a highly desirable area of Raleigh. The building's amenities are designed to meet the demands of modern businesses, creating a productive and comfortable work environment. With its strategic location and flexible space options, Somerset is an excellent choice for companies of various sizes. Contact us today to learn more about leasing opportunities and explore how this exceptional property can meet your business needs. The property is conveniently located in Wake County, North Carolina.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1984
Construction METAL FRAME
Total area 116,352 SF
Lot 3.49 ac (152,024 SF)
Zoning code OX-7
APN 1716.18-41-4680 0112817
UPID US53-5648861

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
  • Charitable Organization Social Service Agency
  • Postal Service Courier Service
  • Construction Company General Contractor
  • Pharmacy
  • Media Distribution

Location

4505 Falls Of Neuse Rd Raleigh, NC 27609
Raleigh metro Census 52701 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$8.00M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$8.00M

Owner & transaction history

since 2024
Last sale
$8.0M
5 recorded transactions
2024
$8.0M
2020
$29.8M
2015
Price N/A
2007
$5.7M
2001
Price N/A

Zoning & alternative use

OX-7 · Raleigh, NC
Zoning description

The OX-7 is intended to provide for a variety of office and employment uses whileallowing for housing and limited retail and service related options

General category MIXED_USE

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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