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

    1123 Wake Robin Lane Cary, NC 27519

    View on Map
    Pending
    $650,000

    LAND - Cary, NC

    Lot size:
    4.93 Acres
    Added:
    Mar 13, 2026
    Days on Market:
    20
    Last Refresh:
    Apr 1 at 1:06 am

    Property Features for 1123 Wake Robin Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R40
    Vegetation
    Partially Wooded
    Standard status
    Pending
    APN
    073404535473000 0087489
    Lot size
    4.93 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxDescription
    Lo9 White Oak Estates Bm1992-1061
    TaxAnnualAmount
    4513

    Utilities

    Utilities
    Electricity Available

    We can help!

    Listing Contact
    Missy Farrell
    Missy Farrell

    Listing agent Missy Farrell License #279825

    Listing office Berkshire Hathaway HomeService 3700 Computer Drive Ste.100, Raleigh, NC

    Listing date Mar 13, 2026

    MLS# 10152460 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.

    Overview

    Cary Land: Build Your Dream

    This is a rare opportunity to build a custom dream home on nearly 5 private acres in a prime West Cary location. The property is tucked at the end of a quiet cul-de-sac within an established community with no HOA. This deep, mostly flat lot offers exceptional privacy and natural beauty. It is an ideal homesite for one custom home, as the lot cannot be subdivided. A portion of the homesite has already been cleared, while mature trees remain, creating a peaceful wooded backdrop. A lovely stream and the Greenway run along the north side of the property, adding to the serene setting. The lot size is 4.93 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Alpha Book Publisher Publishing House

    Suggested Use

    Restaurant Law Firm Real Estate Agency 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
    -78.880154
    Latitude
    35.79272

    Nearby Similar for Sale

    • $950,000
      3,657 SF

      Cary Commercial Land Opportunity

      Income-producing triplex with commercial zoning and redevelopment potential.
      1208 Walnut Street, Cary, NC 27511
      View Details
    • $455,000
      984 SF

      Cary Commercial Property Opportunity

      Remodeled commercial property near downtown Cary Park.
      8704 Chapel Hill Road, Cary, NC 27513
      View Details
    • $759,000
      2,045 SF

      Move-in Ready Medical Suite

      Turnkey medical suite in Cary's Preston medical corridor.
      3731 NW Cary Parkway unit: 100, Cary, NC 27513
      View Details
    • $950,000
      3,657 SF

      Cary Multi-Family Investment Opportunity

      Income-producing triplex with commercial zoning and redevelopment potential.
      1208 Walnut Street, Cary, NC 27511
      View Details
    • $299,900
      900 SF

      Cary Office Condo For Sale

      Well-appointed office condo in a sought-after Cary location.
      101 Brady Court unit: 200, Cary, NC 27511
      View Details
    • $550,000
      2,610 SF

      Cary Duplex Investment Opportunity

      Duplex in excellent location near I-40 and downtown Cary.
      110 Misty Court, Cary, NC 27513
      View Details
    • $625,000
      2,177 SF

      Cary Duplex with Landscaped Yard

      Well-maintained duplex in Cary with a private outdoor oasis.
      103 Bowers Lane, Cary, NC 27519
      View Details
    • $625,000

      Downtown Cary Homesite Opportunity

      Vacant land in downtown Cary ready for custom home.
      203 Pleasants Ave, Cary, NC 27511
      View Details
    • $6,874,000

      Prime Cary Development Opportunity

      11.31 acres in Cary near Beaver Creek and RTP.
      700 Oak Ridge Drive, Cary, NC 27519
      View Details
    • $320,000

      Vacant Lot in Downtown Cary

      Vacant land in downtown Cary, a builder/investor opportunity.
      120 Boyd Street, Cary, NC 27513
      View Details
    • $1,999,900

      Cary Land Development Opportunity

      2.85 acres in Cary, NC, with development potential.
      Trinity Road, Cary, NC 27513
      View Details
    • $420,000

      Wooded Lot in Cary, NC

      One acre wooded lot with development potential in Cary.
      2210 Stephens Road, Cary, NC 27518
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Private 4.93-acre lot in prime West Cary location.
    Where is this residential land & home lot located?
    The property is located at 1123 Wake Robin Lane Cary, NC.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Nearly 5 acres of private land in West Cary; Located at the end of a quiet cul‑de‑sac in an established community with no HOA; Mostly flat lot ideal for building a custom home
    (919) 348-8787
    We can help!
    Listing Contact
    Missy Farrell
    Missy Farrell
    Real Estate License ID: 279825
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!