1700 Perimeter Park DrMorrisville, NC 27560

Property Details for 1700 Perimeter Park Dr

Year built

1997

Construction

BRICK

Lot size

5.06 AC

Property size (Sq ft)

79,834 SF

Zone code

OI

Property type

Office buildings

APN

0756.03-04-7824 0239458

APU

756030478240239458

Description

This exceptional Class A executive office building, totaling 77,239 square feet, presents a unique single-tenant opportunity in Morrisville, NC. Situated at 1700 Perimeter Park Drive, this three-story building boasts stunning brick and glass construction, offering a prestigious and modern workspace. The property features a generous 14'3" ceiling height throughout, providing ample space and flexibility for various office configurations. With 362 parking spaces, ample parking is ensured for employees and visitors. The building is equipped with robust power infrastructure, including a 750 KVA switch gear with 2000 amps. Located in Wake County, this prime location offers unparalleled convenience, just three minutes from Raleigh-Durham International Airport and easily accessible from I-40 and I-540. On-site amenities include two fitness centers, a conference center, a tenant lounge, a pocket park with a putting green and bocce court, and seven miles of walking trails. The property is also surrounded by a vibrant mix of over 50 restaurants and retailers, providing employees with a wide array of dining and shopping options. This property benefits from responsive, proactive on-site property management, ensuring a seamless and efficient operational experience. This is an exceptional opportunity to acquire a fully vacant, high-quality office building in a thriving location.

• CAP approach

  CAP return

  Valuation

  6%

  $19,431,600

  6.5%

  $17,936,900

  7%

  $16,655,700

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,552,400

  Geo Method

  $18,325,100

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $38,588,200

  Retail / Commercial

  $19,146,800

  Mixed-Use / Specialty

  $18,573,400

  Hospitality / Lodging

  $12,969,000

  Institutional / Educational

  $19,128,300

  Residential Income

  $22,380,100

  Multifamily

  $29,642,000

  Automotive / Energy

  $16,395,700

  Parking / Income-Based Land

  $6,157,030

  Restaurant / Food Service

  $8,582,060

  Healthcare / Senior Housing

  $19,564,700

Location Insight

City

Morrisville

County

Wake

State

North Carolina

Latitude

35.8514

Longitude

-78.8288

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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