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Waters Edge Office Park 4900 Waters Edge Dr 21,684 SF 100% Leased Office Building Raleigh, NC 27606 $3,995,000 ($184.24/SF) 7.61% Cap Rate
INVESTMENT HIGHLIGHTS
- Highly desirable Raleigh location - 100% leased
- 1.58-acre with Zoning OX-3 - infill development opportunity
- Two story building, direct access to the 2nd floor from parking lot, readily two tenant building
EXECUTIVE SUMMARY
Highly desirable Raleigh Location. 4900 Waters Edge Drive presents a rare opportunity to acquire a stabilized, special-purpose investment with long-term income and future infill development potential under OX-3 zoning. The property is ideally suited for investors seeking secure cash flow in a supply-constrained area with strong demographic and institutional demand.
The two-story building totals 21,684 square feet and sits on a generous 1.58-acre site, offering a two-tiered parking lot and access direct to the second level with approximately 80 spaces. The property can readily function as single-tenant building or a two tenant buildings. Recent renovation including interior upgrades and the installation of a new HVAC chiller system at a cost of approximately $115,000 (2019) enhancing both efficiency and long-term operability.
The building is fully leased to a well-established private educational institution specializing in services for children diagnosed with autism and other developmental disabilities, providing a mission-driven tenancy and stable occupancy. The current lease term runs through December 31, 2029, with annual 3% rent escalations, plus two additional five-year renewal options, offering strong long-term income visibility.
Property is tenant-occupied. Do not contact tenant(s). All inquiries, communications, and property tours must be scheduled exclusively through the Listing Agent and conducted in the Listing Agent’s presence.
The two-story building totals 21,684 square feet and sits on a generous 1.58-acre site, offering a two-tiered parking lot and access direct to the second level with approximately 80 spaces. The property can readily function as single-tenant building or a two tenant buildings. Recent renovation including interior upgrades and the installation of a new HVAC chiller system at a cost of approximately $115,000 (2019) enhancing both efficiency and long-term operability.
The building is fully leased to a well-established private educational institution specializing in services for children diagnosed with autism and other developmental disabilities, providing a mission-driven tenancy and stable occupancy. The current lease term runs through December 31, 2029, with annual 3% rent escalations, plus two additional five-year renewal options, offering strong long-term income visibility.
Property is tenant-occupied. Do not contact tenant(s). All inquiries, communications, and property tours must be scheduled exclusively through the Listing Agent and conducted in the Listing Agent’s presence.
DATA ROOM Click Here to Access
- Offering Memorandum
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
Building Size
21,684 SF
Building Class
B
Year Built/Renovated
1976/2019
Price
$3,995,000
Price Per SF
$184.24
Cap Rate
7.61%
NOI
$304,051
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
10,842 SF
Slab To Slab
11’
Building FAR
0.32
Lot Size
1.58 AC
Opportunity Zone
Yes
Zoning
OX-3 - Office OX-3
Parking
80 Spaces (3.69 Spaces per 1,000 SF Leased)
AMENITIES
- Air Conditioning
1 1
PROPERTY TAXES
| Parcel Number | 0783.10-36-1962-000 | Total Assessment | $2,736,385 (2025) |
| Land Assessment | $908,490 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,827,895 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
0783.10-36-1962-000
Land Assessment
$908,490 (2025)
Improvements Assessment
$1,827,895 (2025)
Total Assessment
$2,736,385 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
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Presented by
Universal Realty
Waters Edge Office Park | 4900 Waters Edge Dr
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