Brier Creek Office Condo
For Sale
Contact for pricing
7780 Brier Creek Pkwy, Raleigh, NC 27617
Desirable office condo in Brier Creek near shopping and airport.
Property Size6,465 SF
Price / SF$324
Days on Market660
Property Features for 7780 Brier Creek Pkwy
General Information
Standard status
Active
Size
6,465 SF
Class
A
Property subtype
Office
Investment Type
Owner/User
Building Details
Tenancy
Single
Listing Agency:
Borden Real Estate LLC
Listed By:
Robert Lacy · License #NC 218456
(919) 641-4647
Source:
Crexi
Added: Nov 13, 2024
Changed: Aug 26
Last Checked: Sep 3 at 2:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Borden Real Estate LLC
Investment Insights
Based on property information with market context.
This property offers the opportunity to lease or purchase an office condo located in Alexander Office Park in Brier Creek, situated off Hwy. 70 and I-540. The location is adjacent to the Brier Creek Shopping Center, which provides access to numerous restaurants, eateries, and shops. The property is also located minutes from RDU Airport and RTP. The property size is 6465 square feet.
Key Highlights
- Excellent location in Brier Creek near Hwy. 70 and I‑540.
- Adjacent to Brier Creek Shopping Center with numerous restaurants and shops.
- Opportunity to lease or purchase.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,558
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,791,160
$1.8M
Cap Rate 7%
$1,279,400
$1.3M
Cap Rate 9%
$995,089
$995.1K
Market Conditions
NOI Build-Up for 6,465 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$143.5K $22.20/SF
− Vacancy
−$24.1K −$3.73/SF
EGI
$119.4K $18.47/SF
− OpEx
−$29.9K −$4.62/SF
NOI
$89.6K $13.85/SF
Area
Raleigh, NC
Vacancy
16.80%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,791,160
Cap Rate 7%
$1,279,400
Cap Rate 9%
$995,089
Alternative Uses
Best Use
Office B
$1.28M
$1.12M – $1.49M
NOI $89,558 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.78M
$1.55M – $2.07M
NOI $124,370 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Explore this area
Business Placement
Demographics for 27617, NC
20,968
Population
10,522
Households
2
Avg Household Size
36
Median Age
63%
College-Educated
98%
High-School Grad
8.3 sq mi
ZIP Area
2,526
Density / Sq Mi
$109,991
Median Household Income
$69,203
Median Earnings
$1,679
Median Rent
$448,300
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Desirable office condo in Brier Creek near shopping and airport.
Where is this office units located?
The property is located at 7780 Brier Creek Pkwy Raleigh, NC.
What is the asking price?
The asking price for this property is $2,094,660.
What are key features of this property?
This property features: Excellent location in Brier Creek near Hwy. 70 and I‑540.; Adjacent to **Brier Creek Shopping Center** with numerous restaurants and shops.; Opportunity to lease or purchase.
