What to Know Before Buying an Office Condo in The Triangle.

The Rise of Office Condos in the Triangle

With interest rates stabilizing and lease costs rising, more business owners are considering ownership. In markets like South Durham, Morrisville, and Cary, office condos are in high demand among medical, legal, and professional services firms.

Benefits of Buying an Office Condo

• Equity Growth: Instead of rent disappearing, you’re building ownership.

• Cost Predictability: Mortgage payments vs. unpredictable lease hikes.

• Customization: Full control over layout and branding.

• Tax Benefits: Depreciation and interest deductions.

Challenges of Ownership

• Upfront Costs: Down payment and closing costs can be significant.

• Liquidity: Harder to exit quickly compared to a lease.

• HOA Fees: Shared expenses for common areas.

Financing Options in Raleigh-Durham

• SBA 504 Loans: Popular among small businesses; as little as 10% down.

• Conventional Commercial Loans: Require more equity but offer flexibility.

• Local Credit Unions: Often competitive for Triangle-based businesses.

Local Case Example

A Cary dental practice purchased a 2,000 SF condo with an SBA loan, locking in fixed costs for 20 years—at a monthly payment lower than what nearby landlords were asking in rent.

Checklist Before You Buy

• Review HOA bylaws and financials.

• Compare costs to leasing over a 10-year horizon.

• Consider location trends: is the area appreciating?

• Work with a broker familiar with local comps and resale history.

Final Thoughts

An office condo purchase can be a game-changing investment—but only when it aligns with your growth strategy and local market conditions.