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Property profile & analytics
FOR LEASE
Office buildings
4917 Waters Edge Dr Raleigh, NC 27606
Entity Owned
7-yr Hold
Free & Clear
Property ID
US53-1820906
For Lease
1 / 5
Contact for pricing
4917 Waters Edge Dr, Raleigh, NC 27606
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Property summary
AI-generated overview
Waters Edge Office Park offers prime executive office space for lease in the desirable West Raleigh submarket of Raleigh, North Carolina. This Class B property, located at 4917 Waters Edge Drive, zip code 27606, consists of two two-story buildings totaling 44,757 square feet. The park provides convenient access to I-40 and I-440, placing businesses near the Jones Franklin Road intersection and Cary Crossroads. Currently, there are 14,484 square feet of vacant space available, divisible into units ranging from a minimum of 783 square feet to a maximum contiguous space of 6,510 square feet. The property features ample parking with a ratio of 4.5 spaces per 1,000 square feet and includes elevators for convenient access to all floors. This location offers businesses a strategic advantage with its proximity to major transportation arteries and a variety of amenities. The property is ideal for businesses seeking flexible and well-located office space in a thriving area of Raleigh. Contact us today to learn more about available suites and lease terms.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Construction
FRAME
Total area
37,504 SF
Lot
3.54 ac (154,202 SF)
Zoning code
OX-3
APN
0783.10-26-9323 0023957
UPID
US53-1820906
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Triangle Developmental Services Disability Services Psychologist
-
Wake Psychological Health and Wellness Physician Medical Clinic
-
Quick Color Prints Marketing & Advertising Printing Service
-
Atkinson Firm Law Firm
-
Diversified Maintenance Commercial Cleaning Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.31M
Blend (final)
Blend
$4.32M
Owner & transaction history
Hamilton Waters Edge LLC · 7 yrs held
Hamilton Waters Edge LLC
since 2018
4 recorded transactions
Zoning & alternative use
OX-3 · Raleigh, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The OX-3 is intended to provide for a variety of office and employment uses whileallowing for housing and limited retail and service related options
Zone name
Office Mixed Use
General category
MIXED_USE
Zone area
2,273.34 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Raleigh submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Raleigh submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.32M
Range $3.89M – $4.75M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$115 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$43,324
Tax year 2023
Assessed value
$3,974,700
Assessed 2023
Previous assessed
$3,974,700
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,371,720
Assessed improvement
$2,602,980
Land market value
$1,371,720
Improvement market value
$2,602,980
Total market value
$3,974,700
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1982
Construction
FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
37,504 SF
Lot
3.54 ac (154,202 SF)
Zoning code
OX-3
APN
0783.10-26-9323 0023957
UPID
US53-1820906
Jurisdiction
WAKE
Zoning & alternative use
OX-3 · Raleigh, NCZoning OX-3 · permitted uses
OX-3 · Raleigh, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The OX-3 is intended to provide for a variety of office and employment uses whileallowing for housing and limited retail and service related options
Zone name
Office Mixed Use
General category
MIXED_USE
Zone area
2,273.34 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1982
Construction
FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
3.54 ac
Current owner
From public records · entity-resolved
Hamilton Waters Edge LLC
Entity
Free & Clear · 7 yrs held
Mailing address
37 S DELAWARE AVE STE #1, YARDLEY, PA 19067-1637
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2020
—
Hamilton Waters Edge LLC
—
Deed
related
$5,000,000 · Capital Bk NA
Aug 7, 2018
$3,825,000
Hamilton Waters Edge LLC
Waters Edge LLC
Grant Deed
related
—
—
—
Waters Edge LLC
—
Deed Of Trust
related
$1,800,000 · Branch Banking & Trust Co
—
—
Hamilton Waters Edge LLC
—
Deed Of Trust
related
$5,000,000 · Capital Bk NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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