Property profile

1500 Perimeter Park Dr Morrisville, NC 27560

FOR LEASE
Office buildings
Property ID
US53-2104079
80,374 SF 5.47 ac lot Built 1995
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 desirable RTP/I-40 Corridor of Wake County, offers multiple executive office suites for lease. The three-story building, constructed in 1996, boasts a total of 80,067 square feet, with a significant 57,656 square feet currently vacant. Spaces range from a minimum of 12,486 square feet to a maximum contiguous area of 28,103 square feet, providing flexibility for businesses of various sizes. The property features an upscale lobby and common areas, designed for efficiency and functionality. Its corporate park setting offers a professional and appealing environment. Conveniently located off I-40 and I-540, it's just three minutes from Raleigh-Durham International Airport, ensuring easy access for clients and employees. On-site amenities include a fitness center, a conference center, and walking trails, enhancing the workplace experience. The building's location also benefits from the proximity of over 50 restaurants and retailers, providing ample dining and shopping options. The property is managed by a responsive and proactive on-site team, ensuring a seamless and positive experience for tenants. This is a prime opportunity to secure high-quality office space in a thriving business community.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1995
Construction BRICK
Total area 80,374 SF
Lot 5.47 ac (238,273 SF)
Zoning code OI
APN 0756.01-05-9486 0219492
UPID US53-2104079

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
  • Financial Advisor
  • Media Distribution
  • Electric Vehicle Charging Station

Location

1500 Perimeter Park Dr Morrisville, NC 27560
Morrisville metro Census 53609 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$12.20M
CAP Approach CAP
by Request
Comparable Approach Comparable
$16.66M
Blend (final) Blend
$15.25M

Owner & transaction history

since 2020
Last sale
$11.9M
3 recorded transactions
2020
$18.0M
2017
$13.9M
2015
$11.9M

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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