Ground-Level Office
For Sale
$1,195,000
120 Preston Executive Dr Ste 101, Cary, NC 27513
Class A office condominium with private offices, conference space, restrooms, and rear patio access.
Property Size2,595 SF
Price / SF$407.57
Days on Market77
Property Features for 120 Preston Executive Dr Ste 101
General Information
Standard status
Active
Size
2,595 SF
Net Rentable
2,932 SF
Class
Class A
Property subtype
Office
Additional Details
Floor
Ground Floor
Highway Access
Yes
Building Details
Building Size
2,595 SF
Year Built
2004
Construction
brick
Listing Agency:
Lee & Associates - Raleigh Durham
Listed By:
Kyle Gross
(919) 710-6400
Source:
Lee-associates
Added: Aug 4
Changed: Oct 13
Last Checked: Oct 19 at 4:43AM
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 Lee & Associates - Raleigh Durham
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Investment Insights
Based on property information with market context.
This 2,932 RSF Class A office condominium occupies the ground level of a brick office building constructed in 2004. The suite includes a reception area, conference room, eight private offices, break room, private restrooms, and access to a rear patio. Monument signage and OIP zoning add practical identity and use flexibility for professional office or medical occupancy.
The property is located at 120 Preston Executive Drive in Cary’s Preston submarket, with views toward Prestonwood Country Club. Restaurants and retail are within walking distance, while Cary Parkway, NC-55, US-64, I-40, Research Triangle Park, and Raleigh-Durham International Airport provide regional connectivity.
The property is located at 120 Preston Executive Drive in Cary’s Preston submarket, with views toward Prestonwood Country Club. Restaurants and retail are within walking distance, while Cary Parkway, NC-55, US-64, I-40, Research Triangle Park, and Raleigh-Durham International Airport provide regional connectivity.
Key Highlights
- 2,932 RSF Class A office condominium
- Ground‑level suite with reception area and eight private offices
- Conference room, break room, and private restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,569
Cap Rate
4.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,031,380
$1.0M
Cap Rate 7%
$736,700
$736.7K
Cap Rate 9%
$572,989
$573.0K
Market Conditions
NOI Build-Up for 2,932 SF
Gross rent
$88.0K $30.00/SF
− Vacancy
−$19.2K −$6.55/SF
EGI
$68.8K $23.45/SF
− OpEx
−$17.2K −$5.86/SF
NOI
$51.6K $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 Rate 5%
$1,031,380
Cap Rate 7%
$736,700
Cap Rate 9%
$572,989
Alternative Uses
Best Use
Office B
$736.7K
$644.6K – $859.5K
NOI $51,569 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$820.4K
$717.8K – $957.1K
NOI $57,427 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
Explore this area
Business Placement
Demographics for 27513, NC
46,526
Population
21,204
Households
2.2
Avg Household Size
39
Median Age
68%
College-Educated
97%
High-School Grad
16.4 sq mi
ZIP Area
2,837
Density / Sq Mi
$119,458
Median Household Income
$66,584
Median Earnings
$1,491
Median Rent
$468,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Class A office condominium with private offices, conference space, restrooms, and rear patio access.
Where is this office unit located?
The property is located at 120 Preston Executive Dr Ste 101 Cary, NC.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 2,932 RSF Class A office condominium; Ground‑level suite with reception area and eight private offices; Conference room, break room, and private restrooms
