1500 Perimeter Park DrMorrisville, NC 27560

  • Office properties
  • 80,374 SF
For Lease
$26.50/SF/YR View listing

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 properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
1500 Perimeter Park Dr, Morrisville, North Carolina

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$145,195
$1,906,184
$11,875,175
$13,781,359
-
$1,906,184
$11,875,175
$13,781,359

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