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    3701 NW Cary Parkway unit 209B Cary, NC 27513

    View on Map
    Pending
    $1,300 /Mo

    COMMERCIAL - Cary, NC

    Type:Office
    Property size:
    34,427 SF
    Lot size:
    2.47 Acres
    Added:
    Jan 10, 2026
    Days on Market:
    80
    Last Refresh:
    Mar 31 at 6:06 pm

    Property Features for 3701 NW Cary Parkway unit 209B

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    GCCU
    Interior features
    Elevator, Entrance Foyer, Granite Counters, Storage
    Exterior features
    Lighting
    Accessibility
    Accessible Elevator Installed
    Appliances
    Refrigerator
    Standard status
    Pending
    APN
    075414441118000 0242074
    Size
    34,427 SF
    Lot size
    2.47 Acres

    Taxes and HOA fees

    TaxDescription
    Preston Proffessional Cntr Tr5 Bm1998-210

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    2000
    Floors in Building
    3
    Flooring type
    Carpet
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Drew Ludlow
    Drew Ludlow

    Listing agent Drew Ludlow

    Listing office ESP Realty 300 S Main St. Ste 212, Cary, NC

    Listing date Jan 10, 2026

    MLS# 10145781

    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

    Furnished Office in Cary Medical Corridor

    A fully furnished private office is available for sublease at $1,300 per month within a professional two-office suite, situated in the Preston area medical corridor of Cary, NC. Designated as Office B, the space encompasses approximately 219 square feet and includes access to a shared waiting area, kitchenette, and restroom. The gross lease rate covers utilities, internet, coffee service, and refrigerator use. This turnkey, move-in ready space is suitable for behavioral health providers, therapists, counselors, or other professional office users. The original lease term extends through January 2027, with flexible term options potentially available. The property is zoned GCCU and is part of a larger 34,427 square foot building on a 2.47-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. William Gurley Dental Office Pamela Foland Physician Lori Ginsberg Physician Adam White Physician Lisa August Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.817443
    Latitude
    35.794556

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    FAQs

    What type of property is this?
    Serviced office - Furnished office space available for sublease in Cary, NC.
    Where is this serviced office located?
    The property is located at 3701 NW Cary Parkway unit 209B Cary, NC.
    What is the lease rate?
    The lease rate is $1,300 /Mo.
    What are key features of this property?
    This property features: Fully furnished, move‑in ready office space ideal for professional office users.; All‑inclusive gross lease of $1,300/month covers utilities, internet, and coffee service.; Located in Cary's Preston area medical corridor.
    (919) 818-8998
    We can help!
    Listing Contact
    Drew Ludlow
    Drew Ludlow
    Learn More
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    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
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