919-913-1101
, Raleigh, NC for Sale
Office - FOR SALE
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Midtown North Portfolio
Raleigh, NC
North Raleigh


HIGHLIGHTS

  • Located in Raleigh’s premier Six Forks business corridor.
  • Surrounded by executive housing and top-tier amenities.
  • Rents 9% below market with strong mark-to-market potential.
  • Above-market parking ratio with 349 surface spaces.
  • Priced below estimated $350/SF replacement cost.
  • 33% healthcare tenancy supports medical use demand.

OVERVIEW

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.

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Bill AucoinAvison YoungMore Info
919-913-1101

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Bill AucoinAvison YoungMore Info
919-913-1101

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.