Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    111 E Cornwall Rd Cary, NC 27511

    View on Map
    Sponsored
    For Sale
    $525,000

    LAND - Cary, NC

    Lot size:
    0.52 Acres
    Days on Market:
    6
    Last Refresh:
    Mar 9 at 1:06 pm

    Property Features for 111 E Cornwall Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Vegetation
    Cleared, Grassed
    Zoning
    R12
    APN
    076311571221000 0016799
    Lot size
    0.52 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Justin F. Patsey

    Keystone Properties (919) 612-5503

    Listing agent Justin F. Patsey (919) 669-2084

    Listing date Mar 3, 2026

    MLS# 10135695 Listing URL

    Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Lot Near Downtown Cary

    This half-acre lot is located near downtown Cary, approximately 0.6 miles from the Cary Library and the heart of downtown. The property offers the opportunity to build a custom home. All public utilities are available on site. The property is owned by a local custom builder, who can assist with designing and constructing a home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.780441
    Latitude
    35.775429

    Nearby Similar for Sale

    • New
      $455,000
      984 SF

      Cary Commercial Property Opportunity

      Remodeled commercial property near downtown Cary Park.
      8704 Chapel Hill Rd, Cary, NC 27513
      View Details
    • $4,250,000

      Class A Office Building For Sale

      Fully leased Class A office building in west Cary.
      100 Connemara Dr, Cary, NC 27519
      View Details
    • $810,000

      Cary Medical Condo For Sale

      Turnkey medical condo in Cary's premier medical district.
      251 Keisler Dr, Cary, NC 27518
      View Details
    • Contact for pricing
      14,000 SF

      Cary Office Space Near Amenities

      Located near Park West Village with abundant nearby amenities.
      1616 Evans Rd, Cary, NC 27513
      View Details
    • Contact for pricing

      Cary Retail/Office/Medical Opportunity

      Freestanding building with drive-thru, convenient location, and high visibility.
      950 N Harrison Ave, Cary, NC 27513
      View Details
    • Contact for pricing

      Freestanding Building on N. Harrison

      Retail, office, or medical opportunity in Cary, North Carolina.
      950 N Harrison Ave, Cary, NC 27513
      View Details
    • Contact for pricing

      Former Bookstore Near Epic Headquarters

      40,000 SF retail space near future Epic Games headquarters.
      760 SE Maynard Rd, Cary, NC 27511
      View Details
    • $3,750,000
      8,834 SF

      Freestanding Building in Preston Corners

      8,834 SF building with drive-thru in prime location.
      1005 High House Rd, Cary, NC 27513
      View Details
    • Contact for pricing

      Class A+ Office Building

      Two-story office building in Cary, North Carolina for sale.
      105 Weston Estates Way, Cary, NC 27513
      View Details
    • Contact for pricing

      Downtown Cary Mixed-Use Development

      New office and retail spaces in downtown Cary.
      Walnut St, Cary, NC 27511
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Half-acre lot near downtown Cary to build your dream home.
    Where is this residential land & home lot located?
    The property is located at 111 E Cornwall Rd Cary, NC.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: - Prime 1/2 acre lot, just 0.6 miles from downtown Cary and the Cary Library.; - Opportunity to build a custom home in a desirable location.; - All public utilities (water and sewer) are available on site.
    (919) 669-2084
    Request Owner's contact information
    111 E Cornwall Rd Cary, NC 27511
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    111 E Cornwall Rd
    Cary, NC 27511
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    111 E Cornwall Rd Cary, NC 27511
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Justin F. Patsey
    (919) 669-2084
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!