Pending

4900 Waters Edge Drive

Raleigh NC, 27606

$3,600,000


$160.61 per sqft

Pending

22,414 sqft

Commercial

Built in 1977

Listing courtesy of Gillooly & Associates Realty

Exceptional Investment Opportunity situated in a highly sought-after location! This property offers unmatched convenience, being in close proximity to Raleigh, Cary, Apex, Holly Springs, and R.D.U. Airport. This impressive two-story building spans 22,414 square feet and boasts ample parking space with 80 available spots, all situated on a spacious 1.58-acre site within Waters Edge Office Park. The property is currently fully leased to "Learn with the Best School," a private institution specializing in education for children diagnosed with autism and other disabilities. Recent upgrades include a brand-new $115,000 HVAC chiller, and the interior underwent renovation in 2019. The property generates a Net Operating Income (N.O.I.) of $298,800, and the existing lease runs until December 31, 2024, with 3% escalations in place, along with two five-year renewal options. 8.3% Cap Rate As the landlord, you are responsible for the electric bill, which averages around $2,500 per month, Wake County taxes $23,210, Insurance $4,421. Raleigh/Durham Airport is just 9 miles away and lots of shopping, medical and restaurants nearby!

2537467

MLS ID

October 15, 2023

Listed

February 4, 2025

Updated

Map

4900 Waters Edge Drive
Raleigh NC, 27606

Interior Features

Total Stories

2


Interior Features

Entrance Foyer


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

1.58 Acres


Roof

Built-Up

Other Property Details

Taxes

$23,210


Tax Frequency

Annually


Days on Market

96


Garage

No


View

No


County

Wake


Pool

No


Utilities

Electricity Available, Water Available


Zoning

OX-3

Listed by Steve Gillooly, , Gillooly & Associates Realty

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Data last updated 5:05 PM UTC, 2/4/2025

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