817 New Bern AveRaleigh, NC 27601

Property Details for 817 New Bern Ave

Year built

1984

Construction

FRAME

Lot size

0.37 AC

Property size (Sq ft)

5,208 SF

Zone code

OX-3

Property type

Office buildings

APN

1713.05-09-9146 0495898

APU

1713050991460495898

Description

This exceptional office building, located at 817 New Bern Avenue in Raleigh, NC, presents a unique investment opportunity. Situated just blocks from downtown Raleigh, this property boasts a highly desirable location with the added benefit of ample on-site parking—a rare commodity in this area. The building itself comprises eight individual office units, four of which are currently leased, leaving four immediately available for occupancy. The building sits on a 0.37-acre lot. A significant advantage is the substantial storage space available. Located on the first floor facing Edenton Street, this area includes twelve individual storage units, providing ample room for tenants' needs. High-speed internet is included in the lease, featuring AT&T fiber optic service with 1000 Mbps upload and download speeds. This ensures tenants have access to reliable and fast internet connectivity, crucial for modern business operations. The asking price for this exceptional property is $2,000,000. Given its prime location, abundant parking, extensive storage, and high-speed internet access, this office building represents a compelling investment opportunity for discerning buyers seeking a strong return in the thriving Raleigh market. The combination of leased and available units offers immediate income potential and the opportunity for future growth. Don't miss this chance to acquire a truly unique and well-positioned commercial property.

• CAP approach

  CAP return

  Valuation

  6%

  $1,262,388

  6.5%

  $1,165,281

  7%

  $1,082,047

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,378,670

  Geo Method

  $1,195,444

• Alternative Use

  Use

  Valuation

  Residential

  $1,444,949

  Hospitality

  $1,323,565

  Educational

  $1,101,191

  Medical

  $1,139,062

  Retail

  $1,712,963

Location Insight

City

Raleigh

County

Wake

State

North Carolina

Latitude

35.7804

Longitude

-78.626

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].