224 Dawson StRaleigh, NC 27601

Property Details for 224 Dawson St

Year built

1892

Construction

BRICK

Lot size

0.45 AC

Property size (Sq ft)

29,504 SF

Zone code

DX-5

Property type

Office buildings

APN

1703.33-58-6034 0150909

APU

1703335860340150909

Description

This exceptional commercial property at 224 S Dawson St, Raleigh, NC, offers a unique blend of historic charm and modern functionality. Situated in the heart of Raleigh's Warehouse District, this two-story building, constructed in 1892 and renovated in 1950, boasts a total of 28,748 square feet of versatile space. The property is ideally suited for a variety of uses, including traditional office, creative office, and coworking spaces. Multiple tenancy options are available, with a minimum divisible space of 6,000 square feet and the possibility of leasing the entire 28,748 square feet contiguously. Located just blocks from the Raleigh Convention Center, this prime location benefits from the energy and vibrancy of the Warehouse District, known for its art galleries, studios, restaurants, and thriving nightlife. The building's rich history and central location provide an unparalleled opportunity for businesses seeking a unique and dynamic workspace within a highly sought-after area of downtown Raleigh. The property is situated in Wake County, NC, and offers easy access to major transportation routes and amenities. This is a rare opportunity to secure a prominent presence in one of Raleigh's most exciting and rapidly developing neighborhoods. The building's adaptable space allows for customization to meet the specific needs of various businesses, making it an ideal choice for companies seeking a flexible and inspiring work environment. The zip code is 27601.

• CAP approach

  CAP return

  Valuation

  6%

  $8,105,140

  6.5%

  $7,481,670

  7%

  $6,947,260

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,810,340

  Geo Method

  $6,772,350

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $16,176,000

  Retail / Commercial

  $8,011,840

  Mixed-Use / Specialty

  $7,760,160

  Hospitality / Lodging

  $5,402,890

  Institutional / Educational

  $7,987,690

  Residential Income

  $9,345,600

  Multifamily

  $12,445,500

  Automotive / Energy

  $6,846,600

  Parking / Income-Based Land

  $2,583,110

  Restaurant / Food Service

  $3,559,950

  Healthcare / Senior Housing

  $8,186,700

Location Insight

City

Raleigh

County

Wake

State

North Carolina

Latitude

35.7774

Longitude

-78.6439

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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