Description
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!
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0BEDS
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1.58ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Listing courtesy of Gillooly & Associates Realty: . © 2023 Triangle MLS, Inc. of North Carolina. All Rights Reserved. Information deemed reliable but not guaranteed.
Description
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!
©2023 Triangle MLS, Inc. of North Carolina. All rights reserved. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Listings marked with an icon are provided courtesy of the Triangle MLS,
Inc. of North Carolina, Internet Data Exchange Database. Data last updated 2023-12-03T23:51:15.17.