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Midtown North Portfolio 5 Office Properties in Raleigh, NC
INVESTMENT HIGHLIGHTS
- Located in Raleigh’s premier Six Forks business corridor.
- Rents 9% below market with strong mark-to-market potential.
- Priced below estimated $350/SF replacement cost.
- Surrounded by executive housing and top-tier amenities.
- Above-market parking ratio with 349 surface spaces.
- 33% healthcare tenancy supports medical use demand.
EXECUTIVE SUMMARY
Midtown North presents a rare opportunity to acquire a five-building, single-story office park in one of Raleigh’s most dynamic submarkets. Located along the prestigious Six Forks Road corridor, the ±81,901-square-foot property spans 8.84 acres and is just 1.7 miles from the North Hills mixed-use district and less than two miles from the I-440 Beltline. With 79% occupancy and a weighted average lease term exceeding three years, the asset offers stable cash flow and near-term upside through mark-to-market rent adjustments, as current rents trail market averages by approximately 9%.
The property’s low-density layout, direct storefront access, and above-market parking ratio of 4.27/1,000 make it highly attractive to tenants seeking flexible, accessible space. Approximately one-third of the park is occupied by healthcare users, underscoring its suitability for medical and wellness practices. The Six Forks submarket has seen annual rent growth of 5.7% over the past five years, and demand for single-story office space continues to rise as inventory is absorbed for lab and life science conversions.
Midtown North benefits from proximity to Raleigh-Durham International Airport, Research Triangle Park, and major universities, with a surrounding population that is highly educated and affluent. The offering is priced below replacement cost, providing investors with a compelling entry point into a high-barrier market with strong fundamentals and long-term redevelopment potential per the City of Raleigh’s Comprehensive Plan.
The property’s low-density layout, direct storefront access, and above-market parking ratio of 4.27/1,000 make it highly attractive to tenants seeking flexible, accessible space. Approximately one-third of the park is occupied by healthcare users, underscoring its suitability for medical and wellness practices. The Six Forks submarket has seen annual rent growth of 5.7% over the past five years, and demand for single-story office space continues to rise as inventory is absorbed for lab and life science conversions.
Midtown North benefits from proximity to Raleigh-Durham International Airport, Research Triangle Park, and major universities, with a surrounding population that is highly educated and affluent. The offering is priced below replacement cost, providing investors with a compelling entry point into a high-barrier market with strong fundamentals and long-term redevelopment potential per the City of Raleigh’s Comprehensive Plan.
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 76,546 SF |
| Number of Properties | 5 | Total Land Area | 8.98 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 76,546 SF |
| Total Land Area | 8.98 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Midtown North IV
6040-6090 Six Forks Rd, Raleigh, NC 27609 |
Office | 21,280 SF | 1980 | - |
|
Midtown North V
6010-6036 Six Forks Rd, Raleigh, NC 27609 |
Office | 20,190 SF | 1982 | - |
|
Midtown North
5910-5948 Six Forks Rd, Raleigh, NC 27609 |
Office | 12,886 SF | 1981 | - |
|
Midtown North III
5970-5986 Six Forks Rd, Raleigh, NC 27609 |
Office | 11,120 SF | 1981 | - |
|
Midtown North II
5950-5964 Six Forks Rd, Raleigh, NC 27609 |
Office | 11,070 SF | 1981 | - |
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