817 New Bern AveRaleigh, NC 27601

  • Office properties
  • 5,208 SF
For Sale
$2,000 View listing

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 properties
Property subtype
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.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • 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
817 New Bern Ave, Raleigh, North Carolina

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

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
$5,362
$580,212
$23,642
$603,854
-
$580,212
$23,642
$603,854

FAQs

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