Office Condo in Two-Story
For Sale
$299,900
101 Brady, Cary, NC 27511
Well-appointed office condo with 24-hour access and ample surface parking in a two-story professional building.
Property Size900 SF
Price / SF$333.22
Days on Market155
Property Features for 101 Brady
General Information
Standard status
Active
Size
900 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$1,222
Building Details
Year Built
1983
Stories
2
Listing Agency:
EXP REALTY, LLC - C
(888) 584-9431
Listed By:
SHENITA STCLAIR · License #340707
Source:
Corcoran
Added: Mar 19
Changed: Aug 19
Last Checked: Aug 20 at 6:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP REALTY, LLC - C
Investment Insights
Based on property information with market context.
101 Brady Ct, Unit 200 is a well-appointed office condo offering approximately 1,020 square feet of professional space inside a two-story office building. The unit is part of an established office community and includes access designed for daily operational flexibility, with 24-hour access available for occupants.
Located just off Kildaire Farm Road in Cary, the property provides convenient access to major routes, including quick access to I-440. The surrounding area includes high-traffic retail, dining, and business hubs, supporting an environment where clients and visitors can easily find the location.
This setup is well-suited for businesses seeking a dedicated, professional work environment with parking on-site and the ability to support branding through signage opportunities. With its office-condo configuration and ongoing accessibility, Unit 200 can be a practical fit for professional, medical, and service-based operations looking to establish or expand in a busy commercial corridor.
Located just off Kildaire Farm Road in Cary, the property provides convenient access to major routes, including quick access to I-440. The surrounding area includes high-traffic retail, dining, and business hubs, supporting an environment where clients and visitors can easily find the location.
This setup is well-suited for businesses seeking a dedicated, professional work environment with parking on-site and the ability to support branding through signage opportunities. With its office-condo configuration and ongoing accessibility, Unit 200 can be a practical fit for professional, medical, and service-based operations looking to establish or expand in a busy commercial corridor.
Key Highlights
- Office condo in a two‑story office building built in 1983
- Approximately 1,020 SF of professional office space in Unit 200
- 24‑hour access within an established office community
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,829
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$316,580
$316.6K
Cap Rate 7%
$226,129
$226.1K
Cap Rate 9%
$175,878
$175.9K
Market Conditions
NOI Build-Up for 900 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.0K $30.00/SF
− Vacancy
−$5.9K −$6.55/SF
EGI
$21.1K $23.45/SF
− OpEx
−$5.3K −$5.86/SF
NOI
$15.8K $17.59/SF
Area
Cary, NC
Vacancy
21.83%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$316,580
Cap Rate 7%
$226,129
Cap Rate 9%
$175,878
Alternative Uses
Best Use
Office B
$226.1K
$197.9K – $263.8K
NOI $15,829 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$251.8K
$220.4K – $293.8K
NOI $17,628 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,783
Businesses Nearby
Explore this area
Business Placement
Demographics for 27511, NC
32,786
Population
14,359
Households
2.3
Avg Household Size
42
Median Age
58%
College-Educated
93%
High-School Grad
11.7 sq mi
ZIP Area
2,802
Density / Sq Mi
$104,072
Median Household Income
$50,778
Median Earnings
$1,436
Median Rent
$416,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Well-appointed office condo with 24-hour access and ample surface parking in a two-story professional building.
Where is this office units located?
The property is located at 101 Brady Cary, NC.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Office condo in a two‑story office building built in 1983; Approximately 1,020 SF of professional office space in Unit 200; 24‑hour access within an established office community
