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8024 Glenwood Ave

56,000 SF 46% Leased Office Building Raleigh, NC 27612 £7,890,000 (£141/SF)

Virtual Tour

Investment Highlights

  • 8024 Glenwood Avenue is a 56,000-square-foot office building boasting updated finishes in the common areas and ample on-site parking.
  • Strategically positioned just minutes from Raleigh-Durham International Airport, Interstate 540, and Brier Creek shopping area.
  • Easy connectivity to surrounding population centers, including as Cary, Durham, and Downtown Raleigh.
  • Benefit from owner/user potential, excellent tenancy, recent improvements, and an advantageous North Raleigh location in the Triangle.
  • Located in a prominent Glenwood Avenue corridor with easy access to several neighborhood amenities, from shopping and dining to service options.

Executive Summary

8024 Glenwood Avenue offers the opportunity to own an exceptional office building in an unmatched North Raleigh locale in the heart of the Triangle. This three-story, 56,000-square-foot office comprises efficient floor plans with multiple configurations possible for varying densities, accentuated by a classic brick façade, excellent window lines allowing abundant natural light, and a newly remodeled common area. Investors will benefit from the property's strategic location, excellent condition, and value-add opportunities. New ownership can occupy up to 20,000 square feet on the first floor.

Strategically located on Glenwood Avenue, the property's positioning along the main commercial corridor grants it superior connectivity and visibility, enhancing its efficacy for a wide range of uses. 8024 Glenwood Avenue provides prime frontage with exposure to over 45,980 daily drivers. Further supporting this central location, Raleigh-Durham International Airport and Interstate 540 are just minutes away for seamless commutes and travel in and out of town.

Northwest Raleigh is a sprawling suburb featuring a unique combination of residential neighborhoods and convenient shopping centers, all in a park-like setting. The major routes in this part of town are lined with mature oaks and plenty of greenery, while shopping malls and retailers blend into this park-like community. Brier Creek is less than 10 minutes away, providing a wealth of conveniently accessible shopping and dining options. Within a 10-mile radius of the property is a population of over 636,388, with a projected annual growth each year for the next five years, all contributing to the area's strong labor pool, thriving consumer base, and growing community.

Sale Flyer

Property Facts

Sale Type
Investment or Owner User
Property Type
Office
Building Size
56,000 SF
Building Class
B
Year Built
1975
Price
£7,890,000
Price Per SF
£141
Percent Leased
46%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
18,667 SF
Slab to Slab
10 ft
Building FAR
0.32
Land Acres
3.96 AC
Zoning
C - Commercial
Parking
220 Spaces (3.93 Spaces per 1,000 SF Leased)

Amenities

  • Signage

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 2nd Floor
  • 582-10,200 SF
  • Office
  • Full Build-Out
  • Now

Five spaces are available: 582 SF, 900 SF, 2,486 SF, 2,830 SF, and 10,200 SF

Space Size Space Use Condition Available
2nd Floor 582-10,200 SF Office Full Build-Out Now

2nd Floor

Size
582-10,200 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Floor

Size 582-10,200 SF
Space Use Office
Condition Full Build-Out
Available Now

Five spaces are available: 582 SF, 900 SF, 2,486 SF, 2,830 SF, and 10,200 SF

DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 Mile
3 Mile
5 Mile
2020 Population
10,369
55,889
143,143
2024 Population
10,287
55,715
145,439
Population Growth '20-'24
-0.8%
-0.3%
1.6%
2020 Households
4,590
25,420
66,102
2024 Households
4,560
25,412
67,385
Household Growth '20-'24
-0.7%
0.0%
1.9%
Average Age
38
39
40
Median Household Income
$110,575
$92,447
$94,428
Daytime Employees
2,343
22,424
109,389
Total Businesses
246
2,762
11,729
College Degree + Higher
61%
60%
62%
$ values in USD

Nearby Amenities

Hotels

Embassy Suites by Hilton
225 rooms
8 min drive
Marriott
379 rooms
8 min drive
Courtyard
128 rooms
10 min drive
DoubleTree by Hilton
176 rooms
9 min drive

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
0787.13-03-9224-000
Land Assessment
£1,108,368
Improvements Assessment
£4,103,821
Total Assessment
£5,212,189

Sale Advisor

Sale Advisor

(919) 824-4748
Contact
Tim Peters, Broker & Founder
(919) 824-4748
Contact
Oak City Commercial was started by Tim Peters and Patrick Gatewood. Combined they have sold over $500,000,000 in Commercial Real Estate in the Triangle in the past several years.
  • Listing ID: 28806738

  • Date on Market: 20/06/2023

  • Last Updated:

  • Address: 8024 Glenwood Ave, Raleigh, NC 27612

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