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