1500 Perimeter Park DrMorrisville, NC 27560

Property Details for 1500 Perimeter Park Dr

Year built

1995

Construction

BRICK

Lot size

5.47 AC

Property size (Sq ft)

80,374 SF

Zone code

OI

Property type

Office buildings

APN

0756.01-05-9486 0219492

APU

756010594860219492

Description

This exceptional Class A office building, situated in the desirable RTP/I-40 Corridor of Wake County, offers multiple executive office suites for lease. The three-story building, constructed in 1996, boasts a total of 80,067 square feet, with a significant 57,656 square feet currently vacant. Spaces range from a minimum of 12,486 square feet to a maximum contiguous area of 28,103 square feet, providing flexibility for businesses of various sizes. The property features an upscale lobby and common areas, designed for efficiency and functionality. Its corporate park setting offers a professional and appealing environment. Conveniently located off I-40 and I-540, it's just three minutes from Raleigh-Durham International Airport, ensuring easy access for clients and employees. On-site amenities include a fitness center, a conference center, and walking trails, enhancing the workplace experience. The building's location also benefits from the proximity of over 50 restaurants and retailers, providing ample dining and shopping options. The property is managed by a responsive and proactive on-site team, ensuring a seamless and positive experience for tenants. This is a prime opportunity to secure high-quality office space in a thriving business community.

• CAP approach

  CAP return

  Valuation

  6%

  $17,261,524

  6.5%

  $15,933,714

  7%

  $14,795,592

• Comparable approach

  Method

  Valuation

  Relative Method

  $18,677,900

  Geo Method

  $18,449,048

• Alternative Use

  Use

  Valuation

  Residential

  $19,757,806

  Hospitality

  $18,098,044

  Educational

  $15,057,360

  Medical

  $15,575,206

  Retail

  $23,422,560

Location Insight

City

Morrisville

County

Wake

State

North Carolina

Latitude

35.8529

Longitude

-78.8281

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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