Office Condo with Two
For Sale
$340,000
107 Fountain Brook, Cary, NC 27511
Office condo set up with two mini suites plus a central conference room, offering flexibility for small teams.
Property Size1,078 SF
Price / SF$315.40
Days on Market83
Property Features for 107 Fountain Brook
General Information
Standard status
Active
Size
1,078 SF
Property subtype
Commercial
Additional Details
Office Units
2
Taxes and HOA fees
Annual Taxes
$2,052
Amenities
Central air
Central Air Cooling
Luxury Vinyl Flooring
Shingle Roof
Building Details
Year Built
1985
Listing Agency:
FATHOM REALTY NC
(888) 455-6040
Listed By:
TIFFANY ALEXY · License #275619
Source:
Corcoran
Added: May 22
Changed: Aug 8
Last Checked: Aug 11 at 7:43AM
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 FATHOM REALTY NC
Investment Insights
Based on property information with market context.
This office condo features updated interior finishes including LVP floors, coffered ceiling tiles, fresh paint, and keyless entry. The layout is designed for flexibility, with two separate mini suites connected by a central conference room. The conference room is currently used for storage, while each mini suite includes its own lobby area with a kitchenette and a separate large office room with a door. Restrooms are located directly outside the unit.
The property is located in Cary at 107 Fountain Brook, about one mile from downtown Cary/Fenton. Nearby options include dining and shopping, and the condo structure provides low-maintenance exterior and landscaping responsibilities.
This configuration can work well for owner-operators who want a private setup while retaining the option to separate workspaces within the same unit. It also suits professionals considering office sharing, with a built-in split between the two suites and dedicated office rooms. As an office condo, it may appeal to buyers looking for a manageable ownership alternative to a larger standalone building.
The property is located in Cary at 107 Fountain Brook, about one mile from downtown Cary/Fenton. Nearby options include dining and shopping, and the condo structure provides low-maintenance exterior and landscaping responsibilities.
This configuration can work well for owner-operators who want a private setup while retaining the option to separate workspaces within the same unit. It also suits professionals considering office sharing, with a built-in split between the two suites and dedicated office rooms. As an office condo, it may appeal to buyers looking for a manageable ownership alternative to a larger standalone building.
Key Highlights
- Office condo built in 1985 with updated interior finishes including LVP floors, coffered ceiling tiles, and paint
- Configured as two separate mini suites connected by a central conference room (currently used for storage)
- Each mini suite includes a lobby area with kitchenette and a separate large office room with its own door
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
$18,960
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
5.58%
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%
$379,200
$379.2K
Cap Rate 7%
$270,857
$270.9K
Cap Rate 9%
$210,667
$210.7K
Market Conditions
NOI Build-Up for 1,078 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
$32.3K $30.00/SF
− Vacancy
−$7.1K −$6.55/SF
EGI
$25.3K $23.45/SF
− OpEx
−$6.3K −$5.86/SF
NOI
$19.0K $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%
$379,200
Cap Rate 7%
$270,857
Cap Rate 9%
$210,667
Alternative Uses
Best Use
Office B
$270.9K
$237.0K – $316.0K
NOI $18,960 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$301.6K
$263.9K – $351.9K
NOI $21,114 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,572
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 - Office condo set up with two mini suites plus a central conference room, offering flexibility for small teams.
Where is this office units located?
The property is located at 107 Fountain Brook Cary, NC.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Office condo built in 1985 with updated interior finishes including LVP floors, coffered ceiling tiles, and paint; Configured as two separate mini suites connected by a central conference room (currently used for storage); Each mini suite includes a lobby area with kitchenette and a separate large office room with its own door
