222 N Person St

222 N Person St, Raleigh, NC 27601

  • For Sale Subject To Offer
  • Property Type Office - General Office
  • Property Size 40,638 SF
  • Lot Size 2.15 Acre
  • Additional Rent Contact for pricing
  • Building Class B
  • Year Built 1970
  • Date Updated May 21, 2024
Lee & Associates Raleigh-Durham is pleased to exclusively present 222 North Person Street, a ±40,638-square-foot office building in Downtown Raleigh. The property serves as the headquarters for the North Carolina Medical Society (NCMS), which originally constructed the building in 1971. The property is a unique opportunity for a long-term sale-leaseback arrangement or an owner-occupant. 222 North Person Street boasts an impressive 84% occupancy rate and is particularly challenging to replicate due to land pricing constraints in Downtown Raleigh. It is the only institutional office building in the highly sought-after Historic Oakwood District. The existing tenant mix includes lobbyists, attorneys, small businesses, and nonprofit organizations, all of which benefit from the building’s proximity to government buildings within walking distance. This property presents investors with a rare opportunity to acquire a mission-critical office property with a stable tenant base, situated in a location with high barriers to entry and substantial growth potential.Lee & Associates Raleigh-Durham is pleased to exclusively present 222 North Person Street, a ±40,638-square-foot office building in Downtown Raleigh. The property serves as the headquarters for the North Carolina Medical Society (NCMS), which originally constructed the building in 1971. The property is a unique opportunity for a long-term sale-leaseback arrangement or an owner-occupant. 222 North Person Street boasts an impressive 84% occupancy rate and is particularly challenging to replicate due to land pricing constraints in Downtown Raleigh. It is the only institutional office building in the highly sought-after Historic Oakwood District. The existing tenant mix includes lobbyists, attorneys, small businesses, and nonprofit organizations, all of which benefit from the building’s proximity to government buildings within walking distance. This property presents investors with a rare opportunity to acquire a mission-critical office property with a stable tenant base, situated in a location with high barriers to entry and substantial growth potential.

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Attachments

Highlights

  • Three-story ±40,638-square-foot office building with ample surface parking in Downtown Raleigh
  • Approximately 84% occupied
  • Infill office asset with excess land
  • Trophy location in Historic Oakwood, across the street from the North Carolina Executive Mansion and the Capital District
  • Strong demographics
  • Ample nearby amenities
  • Below market rents with upside
  • Well below replacement cost - excellent value for an investor seeking upside or a redevelopment opportunity

Contacts

broker

Karah Jennings McConnell

Lee & Associates

(919) 576-2502

Location

Getting Around

  • Walk Score ®

    86/100 Very Walkable
  • Transit Score ®

    73/100 Excellent Transit
  • Bike Score ®

    90/100 Biker's Paradise
Powered by Walk Score ®
  • City Raleigh, NC
  • Neighborhood Oakwood
  • Zip Code 27601
  • Market Raleigh Durham

Points of Interest

  • Nash Square Charging Station

    0.62 miles

  • Exxon

    0.73 miles

  • Exxon

    1.00 miles

  • Shell

    1.20 miles

  • BP

    1.54 miles

  • Pullen Mart

    1.66 miles

  • Family Fare

    1.70 miles

  • BP

    1.75 miles

  • Garner Road Stop-N-Go

    2.19 miles

  • Exxon

    2.20 miles

  • Lot 50

    0.07 miles

  • Lot 38

    0.09 miles

  • Bus Lot

    0.14 miles

  • Lot 20

    0.14 miles

  • Lot 6

    0.17 miles

  • Lot 18

    0.20 miles

  • Lot 3

    0.23 miles

  • Deck 17

    0.27 miles

  • Deck 65

    0.30 miles

  • Lot 7

    0.36 miles

  • The Longleaf Hotel

    0.47 miles

  • Days Inn: Raleigh Downtown

    0.49 miles

  • Holiday Inn Raleigh Downtown

    0.58 miles

  • Guest House Raleigh

    0.61 miles

  • Roger's Cottage

    0.63 miles

  • Friendship Inn Capitol

    0.64 miles

  • Raleigh Guest Suites

    0.66 miles

  • Sheraton Raleigh Hotel

    0.67 miles

  • Raleigh Marriott City Center

    0.74 miles

  • Hampton Inn & Suites Raleigh Downtown

    0.76 miles

  • Gringo A Go Go

    0.15 miles

  • Krispy Kreme

    0.33 miles

  • Oakwood Pizza Box

    0.36 miles

  • Centro

    0.37 miles

  • Crawford and Son

    0.38 miles

  • The Remedy Diner

    0.38 miles

  • Caffe Luna

    0.40 miles

  • Gravy Italian-American Kitchen

    0.40 miles

  • Sitti Authentic Lebanese

    0.41 miles

  • Square Burger

    0.43 miles

  • Murphy School

    0.17 miles

  • Thompson School

    0.43 miles

  • William Peace University

    0.46 miles

  • Moore Square Middle School

    0.51 miles

  • Campbell University: Norman Adrian Wiggins School of Law

    0.55 miles

  • Exploris Middle School

    0.67 miles

  • Hope Elementary Charter School

    0.82 miles

  • Ravenscroft School

    0.83 miles

  • Hunter Elementary School

    0.87 miles

  • Shaw University

    0.88 miles

  • Gethsemane Seventh Day Adventist Day Care Center

    2.89 miles

  • Word of God Christian Day Care Center

    3.18 miles

  • Young Missionary Temple Day Care and Learning Center

    3.29 miles

  • The Goddard School

    3.33 miles

  • Abundant Life Child Care Center

    4.03 miles

  • Millbrook KinderCare

    5.05 miles

  • Chesterbrook Academy

    5.94 miles

  • Huckleberry's Friends

    6.09 miles

  • The Goddard School

    6.92 miles

  • La Petite Academy

    6.96 miles

Frequently Asked Questions

How much does 222 N Person St cost?

The sale price for 222 N Person St is available upon request. Contact the listing broker for more information.

What is the total square footage of 222 N Person St?

222 N Person St totals 40,638 square feet.

When was this property built?

222 N Person St was built in 1970.

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Contact Listing Broker

broker

Karah Jennings McConnell

Lee & Associates

(919) 576-2502