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Property profile & analytics
OFF-MARKET Estimated value $960,000
Office buildings

817 New Bern Ave Raleigh, NC 27601-1660

5,208 SF 0.37 ac lot Built 1984
Entity Owned Free & Clear
Property ID
US53-2241989
Property summary
AI-generated overview

This exceptional office building, located at 817 New Bern Avenue in Raleigh, NC, presents a unique investment opportunity. Situated just blocks from downtown Raleigh, this property boasts a highly desirable location with the added benefit of ample on-site parking—a rare commodity in this area. The building itself comprises eight individual office units, four of which are currently leased, leaving four immediately available for occupancy. The building sits on a 0.37-acre lot. A significant advantage is the substantial storage space available. Located on the first floor facing Edenton Street, this area includes twelve individual storage units, providing ample room for tenants' needs. High-speed internet is included in the lease, featuring AT&T fiber optic service with 1000 Mbps upload and download speeds. This ensures tenants have access to reliable and fast internet connectivity, crucial for modern business operations. The asking price for this exceptional property is $2,000,000. Given its prime location, abundant parking, extensive storage, and high-speed internet access, this office building represents a compelling investment opportunity for discerning buyers seeking a strong return in the thriving Raleigh market. The combination of leased and available units offers immediate income potential and the opportunity for future growth. Don't miss this chance to acquire a truly unique and well-positioned commercial property.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1984
Construction FRAME
Total area 5,208 SF
Lot 0.37 ac (16,117 SF)
Zoning code OX-3
APN 1713.05-09-9146 0495898
UPID US53-2241989
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
  • Raleigh Signs, Inc. (Bike/Boat/Book/etc) Store Printing Service
  • Selections Rentals,LLC Party Supply Store Rental Equipment Company
  • A New Start Support Services Social Service Agency Charitable Organization
  • ALTA COMMUNITY ACTION ASSOCIATION Association / Organization
  • R&R Leatherworks Industrial Manufacturer
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$800k
CAP Approach CAP
$1.19M
Comparable Approach Comparable
$737k
Blend (final) Blend
$960k
Owner & transaction history
Southbound Holdings LLC
Southbound Holdings LLC
since 2026
Last sale
$1.1M
6 recorded transactions
2026
Price N/A
2025
Price N/A
2023
Price N/A
2023
Price N/A
2023
Price N/A
2023
$1.1M
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
Auto repair, garage $1.5M +51.1%
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