251 Dominion DrMorrisville, NC 27560

Property Details for 251 Dominion Dr

Year built

1997

Construction

CONCRETE BLOCKS

Lot size

3.72 AC

Property size (Sq ft)

24,000 SF

Zone code

IM

Property type

Warehouses

APN

0756.04-51-8145 0163467

APU

756045181450163467

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $12,567,200

  6.5%

  $11,600,500

  7%

  $10,771,900

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,923,670

  Geo Method

  $8,814,340

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $5,755,980

  Mixed-Use / Specialty

  $5,583,600

  Hospitality / Lodging

  $3,898,790

  Office

  $5,392,250

  Institutional / Educational

  $5,750,420

  Residential Income

  $6,727,990

  Multifamily

  $8,911,080

  Automotive / Energy

  $4,928,930

  Parking / Income-Based Land

  $1,850,950

  Restaurant / Food Service

  $2,579,970

  Healthcare / Senior Housing

  $5,881,610

Location Insight

City

Morrisville

County

Wake

State

North Carolina

Latitude

35.8409

Longitude

-78.8118

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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