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Forest Creek 4220 NC Hwy 55 30,648 SF 92% Leased Office Building Durham, NC 27713 $6,265,000 ($204.42/SF) 7% Cap Rate



Investment Highlights
- Strategic positioning at the NC-55 and I-40 interchange with direct access to RTP and RDU Airport.
- Strong income profile supported by 90 percent occupancy and no rollover until 2028.
- Opportunity for value growth through lease-up of move-in-ready suite with high-end finishes.
- Diversified tenant mix across healthcare, education, and nonprofit sectors with long-term stability.
- Market-advantaged rent positioning offering a 15–20 percent discount to the immediate RTP office environment.
- Professional, modern construction with excellent visibility and commuter convenience along major regional corridors.
Executive Summary
The asset is currently 90 percent occupied by a diversified roster of creditworthy users in the healthcare, nonprofit, and education sectors, reinforcing its reputation as a stable, low-turnover environment. In-place rental rates sit $2 to $5 per square foot below competing Class A and B office product in the immediate area, positioning Forest Creek as a cost-advantaged RTP-adjacent option with long-term tenant appeal. The building generates $438,475 in annual NOI based on a weighted average lease rate of $22.72 per square foot, supported by a secure rent roll with no lease expirations until 2028.
The offering includes a 12-month rent credit on the vacant suite, creating an immediate boost to economic occupancy and a clear path for future upside. The available space is move-in ready with premium finishes, making it attractive for near-term lease-up at market rates of $22+ per square foot. Between its strategic gateway location, established tenant mix, and demonstrated operational strength, Forest Creek presents an ideal opportunity for investors seeking stable income today with built-in mark-to-market and occupancy growth potential in one of the Southeast’s most dynamic innovation corridors.
Property Facts
Amenities
- Bus Line
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
Applied Medical Systems is your resource for optometry billing, revenue cycle management coding, and more! Think of us as an extension of your team. They are here to lend a helping hand. The average physician office spends 20 hours per week on insurance-related administrative tasks. Physicians spend almost half their day outside of the exam room, often working on documentation and follow-up. Chances are you didn’t spend years and thousands of dollars on becoming a physician to spend half of your time on tasks like billing and practice management. You probably realize that you need help. But it’s hard to imagine turning your practice over to just anyone. That’s where Applied Medical Systems (AMS) comes in. They’re not “just anyone.” They’re an experienced and caring team of specialists who want to work closely with you to make sure your practice not only survives but thrives.
Families & Communities Rising, formerly known as Chapel Hill Training Outreach Project, was established in 1969 with funding from the Federal government as part of our nation’s earliest attempts to provide educational services to young children with disabilities. Under the direction of Anne R. Sanford, who was the founder of FCR, the strategies and materials developed by FCR during these early years became known as the Chapel Hill Model. The Model included assessment instruments, curricula, and strategies for parent involvement and family-centered programming. In 1983, the Chapel Hill Model was validated unanimously for “exemplary program status” by the U.S. Department of Education’s Joint Dissemination Review Panel (JDRP). Recently the Chapel Hill Model was renamed the LAP System.
Mindpath Health is a privately held behavioral health organization headquartered in Sacramento, California. Founded in 1994, the company provides outpatient mental health services, including psychiatry, psychotherapy, and interventional treatments such as Transcranial Magnetic Stimulation (TMS) and Spravato (esketamine). Mindpath Health operates across multiple states, offering both in-person and telehealth appointments to improve access to care. The organization was formerly known as Community Psychiatry and rebranded after expanding nationally through acquisitions, including MindPath Care Centers. It is backed by private equity firms Centerbridge Partners and Leonard Green & Partners. Today, Mindpath Health employs approximately 1,200 people and partners with most major insurance providers
North Carolina Virtual Academy (NCVA) is a full-time online public school for K–12 students. They're dedicated to inspiring and empowering students through an education experience tailored to each child’s needs. NCVA is a community of students, families, and educators dedicated to expanding educational choice through innovative and technology-rich instructional practices, and is accountable for developing each student’s full potential for academic and post-secondary success.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
Administrative and Support Services | - | - | - | ||
|
Educational Services | - | - | - | ||
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Health Care and Social Assistance | - | - | - | ||
|
Educational Services | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Forest Creek is a 31,613 SF three-story office building conveniently located at the intersection of Hwy 55 and I-40 on the western border of Research Triangle Park. It offers excellent proximity to restaurants, hotels, shopping, banking, and other retail services and is a great alternative to higher RTP rental rates. Easy access to Raleigh, Durham and Chapel Hill. Attractive glass throughout the suite. Private balcony for exclusive use of this suite. Abundant glass (interior & exterior) throughout the suite. Private balcony. Suite entry directly off the elevator.
| Space | Size | Space Use | Condition | Available |
| 3rd Fl-Ste 340 | 2,860 SF | Office | Full Build-Out | Now |
3rd Fl-Ste 340
| Size |
| 2,860 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste 340
| Size | 2,860 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
Forest Creek is a 31,613 SF three-story office building conveniently located at the intersection of Hwy 55 and I-40 on the western border of Research Triangle Park. It offers excellent proximity to restaurants, hotels, shopping, banking, and other retail services and is a great alternative to higher RTP rental rates. Easy access to Raleigh, Durham and Chapel Hill. Attractive glass throughout the suite. Private balcony for exclusive use of this suite. Abundant glass (interior & exterior) throughout the suite. Private balcony. Suite entry directly off the elevator.
Property Taxes
| Parcel Number | 154213 | Improvements Assessment | $3,867,116 |
| Land Assessment | $1,205,500 | Total Assessment | $5,072,616 |
Property Taxes
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Forest Creek | 4220 NC Hwy 55
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