Property profile

251 Dominion Dr Morrisville, NC 27560

FOR LEASE
Warehouses
Property ID
US53-0280666
24,000 SF 3.72 ac lot Built 1997
Entity Owned Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 1,500 square foot space is available for lease within the Commonwealth Business Center at 251 Dominion Drive in Wake County. Located just one mile from I-40, via Aviation Parkway, this property offers unparalleled convenience with its proximity to major transportation arteries. It's approximately two miles from Raleigh-Durham International Airport (RDU) and a short 1.5-mile drive to NC Highway 54, placing you within a five-minute commute to the Research Triangle Park. The building itself boasts a total of 24,350 square feet, featuring a unique 50/50 split between office and warehouse space, ideal for a variety of businesses. The space is fully air-conditioned for year-round comfort. Utilities are separately metered for efficient cost management, and tenants are responsible for their own janitorial services. The property includes two dock-high doors, enhancing logistical efficiency for warehouse operations. This multi-tenant building presents a fantastic opportunity for businesses seeking a blend of office and warehouse functionality in a highly desirable location. The available space is part of a larger building with multiple tenants.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1997
Construction CONCRETE BLOCKS
Total area 24,000 SF
Lot 3.72 ac (162,043 SF)
Zoning code IM
APN 0756.04-51-8145 0163467
UPID US53-0280666

Cap rate & NOI

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

Location

251 Dominion 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
$2.46M
CAP Approach CAP
$2.87M
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.51M

Owner & transaction history

since 2025
Last sale
$2.0M
7 recorded transactions
2025
$5.2M
2025
Price N/A
2025
Price N/A
2025
Price N/A
2023
Price N/A
2016
Price N/A
2011
Price N/A

Zoning & alternative use

IM · Morrisville, NC
Zoning description

The Industrial Management District accommodates industrial uses for example manufacturing, distribution, wholesale operations, warehouses, research facilities, flex space, and business parks that are compatible and integ…

General category INDUSTRIAL

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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