1701 Center StApex, NC 27502

Property Details for 1701 Center St

Year built

2004

Construction

BRICK

Lot size

1.12 AC

Property size (Sq ft)

10,912 SF

Zone code

B1

Property type

Medical offices

Property subtype

Medical centers

APN

0751.05-19-2290 0062997

APU

751051922900062997

Description

This exceptional Class A office building, situated on 1.35 acres in Apex, North Carolina, presents a unique investment opportunity. Boasting 10,912 square feet across two stories, this 2004-constructed building is zoned B1 and offers excellent visibility from the heavily traveled Center Street. The property is currently occupied by the seller, who will vacate upon closing, providing immediate occupancy for the new owner. The building's versatile design caters to both medical and traditional office uses, making it suitable for a wide range of businesses. Its prime location in Wake County, with easy access to major thoroughfares, ensures high traffic and strong potential for tenant attraction. The asking price for this turnkey property is $3,300,000. This represents a compelling opportunity to acquire a well-maintained, high-quality office building in a thriving North Carolina market. The single building structure is ready for immediate use or potential redevelopment, offering flexibility for future growth and expansion. The ample lot size provides additional parking and potential for future development. This is a rare chance to own a highly desirable commercial property in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,824,086

  6.5%

  $2,606,849

  7%

  $2,420,645

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,493,505

  Geo Method

  $2,504,740

• Alternative Use

  Use

  Valuation

  Residential

  $3,232,492

  Hospitality

  $2,960,946

  Educational

  $2,463,472

  Medical

  $2,548,194

  Retail

  $3,832,068

Location Insight

City

Apex

County

Wake

State

North Carolina

Latitude

35.726

Longitude

-78.8271

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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