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817 New Bern Ave 7,211 SF 100% Leased Office Building Raleigh, NC 27601 $2,366,084 CAD ($328.12 CAD/SF) 7.76% Cap Rate
INVESTMENT HIGHLIGHTS
- Prime Location: Located within minutes of Downtown Raleigh.
- Roof, HVAC & Utilities: Metal roof installed in 2010, 8 HVAC units (1 per suite), each suite individually metered for electric
- Property Improvements
- Rent Increase Potential: All leases end within 12 months, providing a prime opportunity to mark rates to market
EXECUTIVE SUMMARY
817 New Bern Ave presents a prime investment opportunity in Raleigh’s thriving commercial market. This 7,211 SF office building sits just minutes from downtown, offering strong tenant demand and long-term growth potential. With ample on-site parking, the property provides a rare combination of accessibility and convenience in an area poised for continued appreciation.
The property is currently configured as eight office suites and 10 storage units, and is fully leased. All leases turn at the end of 2025, providing an excellent opportunity to re-tenant at market rate.
Located in one of the fastest-growing metros in the Southeast, 817 New Bern Ave benefits from Raleigh’s booming economy and increasing demand for well-located office assets. This is an excellent opportunity for investors seeking stable cash flow with upside potential.
The property is currently configured as eight office suites and 10 storage units, and is fully leased. All leases turn at the end of 2025, providing an excellent opportunity to re-tenant at market rate.
Located in one of the fastest-growing metros in the Southeast, 817 New Bern Ave benefits from Raleigh’s booming economy and increasing demand for well-located office assets. This is an excellent opportunity for investors seeking stable cash flow with upside potential.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
7,211 SF
Building Class
C
Year Built/Renovated
1984/2025
Price
$2,366,084 CAD
Price Per SF
$328.12 CAD
Cap Rate
7.76%
NOI
$183,681 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
2,404 SF
Slab To Slab
10’
Building FAR
0.34
Lot Size
0.48 AC
Zoning
OX-3 - (OX-5 by right as part of TOD)
Parking
17 Spaces (2.36 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Air Conditioning
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (89)
PROPERTY TAXES
| Parcel Number | 1713.05-09-9146-000 | Improvements Assessment | $463,793 CAD |
| Land Assessment | $1,079,906 CAD | Total Assessment | $1,543,699 CAD |
PROPERTY TAXES
Parcel Number
1713.05-09-9146-000
Land Assessment
$1,079,906 CAD
Improvements Assessment
$463,793 CAD
Total Assessment
$1,543,699 CAD
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817 New Bern Ave
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