4900 Waters Edge, Raleigh, NC 27606

Property Description

Exceptional Investment Opportunity situated in a highly sought-after location! This property offers unmatched convenience, being in close proximity to Raleigh, Cary, Apex, Holly Springs, and R.D.U. Airport. This impressive two-story building spans 22,414 square feet and boasts ample parking space with 80 available spots, all situated on a spacious 1.58-acre site within Waters Edge Office Park. The property is currently fully leased to "Learn with the Best School," a private institution specializing in education for children diagnosed with autism and other disabilities. Recent upgrades include a brand-new $115,000 HVAC chiller, and the interior underwent renovation in 2019. The property generates a Net Operating Income (N.O.I.) of $298,800, and the existing lease runs until December 31, 2024, with 3% escalations in place, along with two five-year renewal options. 8.3% Cap Rate As the landlord, you are responsible for the electric bill, which averages around $2,500 per month, Wake County taxes $23,210, Insurance $4,421. Raleigh/Durham Airport is just 9 miles away and lots of shopping, medical and restaurants nearby!