Office Condo with Two Mini
For Sale
$340,000
107 Fountain Brook Circle, Cary, NC 27511
Commercial Sale, Cary, NC
Property Size1,078 SF
Price / SF$315.40
Days on Market93
Property Features for 107 Fountain Brook Circle
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OI
Interior features
Coffered Ceiling(s), Entrance Foyer, Quartz Counters, Wet Bar
Standard status
Active
APN
076314440990003 0146277
Size
1,078 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Courtyards Office Condo Bld7 Unc
Tax Annual Amount
2052
Legal Description
Courtyards Office Condo Bld7 Unc
Utilities
Cooling system
Central Air
Building Details
Year built
1985
Floors in Building
1
Flooring type
Vinyl
Building materials
Brick
Roof type
Shingle
Listing Agency:
Fathom Realty NC
(888) 455-6040
Listed By:
Tiffany Alexy · License #275619
(919) 297-8778
Added: May 21
Changed: Aug 19
Last Checked: Aug 21 at 2:06PM
MLS# 10169145
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.
Investment Insights
Based on property information with market context.
This office condo offers a well-finished, ready-to-use interior with LVP/vinyl flooring, coffered ceiling tiles, paint, and keyless entry. The layout is currently set up as two separate mini suites connected via a central conference room, with the conference area presently used for storage. Each mini suite includes a lobby area with kitchenette and a separate large office room with its own door. Restrooms are located just outside the unit, supporting convenient access for occupants and clients. Interior features include an entrance foyer, quartz counters, and a wet bar. Central air and a brick exterior provide reliable year-round comfort, with a shingle roof and building improvements dating to 1985.
The property is located at 107 Fountain Brook Circle in Cary, within about 1 mile of downtown Cary & Fenton. The condo setting is designed for low-maintenance ownership, with exterior and landscaping handled.
Zoned OI, this configuration can support a traditional office use with separate spaces for multiple tenants or functions.
The property is located at 107 Fountain Brook Circle in Cary, within about 1 mile of downtown Cary & Fenton. The condo setting is designed for low-maintenance ownership, with exterior and landscaping handled.
Zoned OI, this configuration can support a traditional office use with separate spaces for multiple tenants or functions.
Key Highlights
- Two mini suites connected by a central conference room currently used for storage
- Each suite includes lobby kitchenette area and separate large office room with door
- Restrooms located right out front of the unit
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
Turnkey business
Opportunity
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - Office condo zoned OI with central conference area and two mini suites connected for flexible use.
Where is this office units located?
The property is located at 107 Fountain Brook Circle 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: Two mini suites connected by a central conference room currently used for storage; Each suite includes lobby kitchenette area and separate large office room with door; Restrooms located right out front of the unit
