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Property profile & analytics
OFF-MARKET Estimated value $895,000
Office buildings

815 New Bern Ave Raleigh, NC 27601-1601

3,988 SF 0.14 ac lot Built 1951
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US53-1701148
Property summary
AI-generated overview

This exceptional 1,527 square foot executive office suite is ideally located in downtown Raleigh, Wake County. The space is currently vacant and available for lease as a single-tenant occupancy. Recently renovated, the suite boasts modern finishes that beautifully complement the building's original character. A key feature is the convenient separate entrance to the second-floor space, offering privacy and accessibility. The asking rate is $22 per square foot, NNN. Ample parking is available for tenants and their guests, a significant advantage in a bustling urban setting. The property is classified as an office building, specifically an executive office suite, making it perfect for businesses seeking a prestigious and functional workspace. The building's size is precisely 1,527 square feet, providing a comfortable and efficient layout for a variety of professional uses. The entire space is available, presenting a unique opportunity for a business to establish a strong presence in a vibrant and desirable location. The modern renovations ensure a contemporary and appealing work environment, while the building's inherent character adds a touch of sophistication. This combination of modern amenities and classic charm makes this property a truly exceptional opportunity. The ample parking further enhances the convenience and appeal of this outstanding executive office suite.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1951
Construction BRICK
Total area 3,988 SF
Lot 0.14 ac (6,098 SF)
Zoning code OX-3
APN 1713.05-09-8171 0044517
UPID US53-1701148
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
  • Page Law, P.A. Law Firm
  • Dream Clean of NC Cleaning Service Hardware & Home Improvement
  • Dorrestein Ronald Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$955k
CAP Approach CAP
$905k
Comparable Approach Comparable
$565k
Blend (final) Blend
$895k
Owner & transaction history
Grp Holdings LLC · 4 yrs held
Grp Holdings LLC
since 2022
Last sale
$900,000
1 recorded transaction
2022
$900,000
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
Top alternative use upside
Commercial (general) $1.3M +66.3%
Medical building $1.3M +61.7%
Auto repair, garage $1.2M +51.1%
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