Property profile

1800 Perimeter Park Dr Morrisville, NC 27560

FOR LEASE
Office buildings
Property ID
US53-2074563
53,640 SF 3.94 ac lot Built 1994
Entity Owned 5-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional Class A office building, situated in the prestigious RTP/I-40 Corridor of Morrisville, North Carolina, offers a prime opportunity for businesses seeking executive-level space. The two-story building, constructed in 1994, boasts a total of 53,135 square feet, with multiple suites available ranging from 4,128 to 27,837 contiguous square feet. Currently, 41,015 square feet are vacant, providing ample space for expansion or relocation. The property features an upscale lobby and common areas, significant glass exposure, and beautifully landscaped grounds within a corporate park setting. Its convenient location offers easy access to Interstates 40 and 540, and is just three minutes from Raleigh-Durham International Airport. On-site amenities include a fitness center, conference center, and walking trails, enhancing employee well-being and productivity. The building is also surrounded by over 50 restaurants and retailers, providing convenience and a vibrant atmosphere. The property benefits from responsive, proactive on-site property management, ensuring a seamless and efficient experience for tenants. This is an unparalleled opportunity to secure high-quality office space in a thriving business community. The building consists of three total suites within Wake County, zip code 27560, at 1800 Perimeter Park Drive.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1994
Construction BRICK
Total area 53,640 SF
Lot 3.94 ac (171,626 SF)
Zoning code OI
APN 0756.01-05-2533 0206767
UPID US53-2074563

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
  • Corporate Office

Location

1800 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
$10.04M
CAP Approach CAP
by Request
Comparable Approach Comparable
$10.11M
Blend (final) Blend
$10.07M

Owner & transaction history

since 2020
Last sale
$7.9M
3 recorded transactions
2020
$12.0M
2017
$8.4M
2015
$7.9M

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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