Historical Office Sale Listing - Mitchell's Spa Waters Edge Office Park

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Mitchell's Spa Waters Edge Office Park

559 Jones Franklin Road, Raleigh, NC 27606


16,396 SF | Office

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Office Property - Off Market

Building Size:
16,396 SF
Property Type:
Property Sub-type:
Office Building
Property Use Type:
Commission Split:
Building Class:
Lot Size:
1.53 AC
APN / Parcel ID:
0783265451 000
Listing ID
Last Updated
over 1 year ago


16,396 Sq. Ft. 2 Story Office Building, 1.53 Acres, 54 Parking Spaces, 2,000 Sq. Ft. of Warehouse Space with Loading Dock & Garage Door on Lower Level, 2,000 Sq. Ft. Open Class Room or Cubical Space on Lower Level. Available for full owner occupancy August 2013. The current tenants the lease their spaces have been in place for over 5 years. 50% of the tenants are willing to resign leases in August 2013 or are willing to relocate if the buyer needs the complete building for their business. When the engineering lease expires in August 2013 there is a positive cash flow of $6,658.75 remaining with approximately 8,000 Sq. Ft. vacant space for an owner occupant to occupy. The current monthy lease income is approximately $15,000 totaling $180,000 for the yearly income amount. The current monthly expenses on the building is approximately $42,000 plus Wake County Yearly Taxes are $13,133.61. The office building was completely renovated in 1998. Masonry Construction with Metal Roof, 100% HVAC, Sprinkler System on Exterior Lawn, Appraised September 2012 for $1,630,000 using the sales comparison approach.

Office building is located at the intersection of US 1 and I-40 Highway on the Raleigh/Cary boarder. 8.7 miles from RDU Airport, 1/2 mile from Crossroads Mall with national chain stores and restaurants.

Map of 559 Jones Franklin Road, Raleigh, NC 27606 (Wake County)

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