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108 Justice Heights St 1,536 SF Office Building Apex, NC 27502 $650,000 ($423.18/SF) 6.20% Cap Rate
Investment Highlights
- Single-tenant investment with lease term through August 2029
- New roof (2024) and recently renovated interior
- Walkable to Downtown Apex and minutes from US 64 & NC 540
Executive Summary
108 Justice Heights Street is a fully leased, single-tenant office investment located within walking distance of Downtown Apex. The Property is leased through August 31, 2029 with three two-year renewal options, providing stable in-place cash flow with 3% annual rent escalations under a modified gross lease.
The 1,536 SF building has been extensively renovated with modern finishes throughout, including new flooring and paint, updated lighting, and a new roof installed in 2024. These recent improvements reduce near-term capital needs while positioning the property for continued leasing success beyond the current lease term.
Single-tenant investment with lease term through August 2029
Three two-year renewal options
3% annual rent increases throughout the remaining lease term
Walkable to Downtown Apex and minutes from US 64 & NC 540
New roof (2024) and recently renovated interior
Limited landlord responsibilities under modified gross lease
Located in one of Wake County's fastest-growing markets
The 1,536 SF building has been extensively renovated with modern finishes throughout, including new flooring and paint, updated lighting, and a new roof installed in 2024. These recent improvements reduce near-term capital needs while positioning the property for continued leasing success beyond the current lease term.
Single-tenant investment with lease term through August 2029
Three two-year renewal options
3% annual rent increases throughout the remaining lease term
Walkable to Downtown Apex and minutes from US 64 & NC 540
New roof (2024) and recently renovated interior
Limited landlord responsibilities under modified gross lease
Located in one of Wake County's fastest-growing markets
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
1,536 SF
Building Class
C
Year Built/Renovated
1986/2024
Price
$650,000
Price Per SF
$423.18
Cap Rate
6.20%
NOI
$40,301
Tenancy
Single
Building Height
1 Story
Typical Floor Size
1,536 SF
Building FAR
0.20
Lot Size
0.18 AC
Zoning
OI - The purpose and intent of the Office and Institutional District is to encourage development of office and institutional uses at moderate intensities.
Parking
6 Spaces (3.91 Spaces per 1,000 SF Leased)
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Spectrum Scholars
- Educational Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Spectrum Scholars | Educational Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 0741.05-28-4866-000 | Total Assessment | $269,260 (2025) |
| Land Assessment | $39,205 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $230,055 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
0741.05-28-4866-000
Land Assessment
$39,205 (2025)
Improvements Assessment
$230,055 (2025)
Total Assessment
$269,260 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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108 Justice Heights St
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