Ground-Floor Office Condominium
7406 Chapel Hill Road Cary, NC 27513
New
For Sale
$255,000
Move-in-ready office suite with ground-floor access and recent capital improvements, including a newer HVAC system.
Property Size1,125 SF
Price / SF$226.67
Days on Market5
Property Features for 7406 Chapel Hill Road
General Information
Standard status
Active
Size
1,125 SF
Property subtype
Office - General Office
Building Details
Year Built
1984
Listing Agency:
SVN | Raleigh
Listed By:
Ren Powell · License #364197
Source:
Commercialcafe
Added: Jul 26
Changed: Jul 27
Last Checked: Jul 30 at 3:20AM
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 SVN | Raleigh
Investment Insights
Based on property information with market context.
This well-maintained office condominium, Suite K, offers a functional layout for professional office use and convenient ground-floor access. The space has been supported by recent capital improvements, including a new building roof, updated foyer finishes, repaired and freshly painted window frames, and a newer HVAC system that is professionally serviced twice each year.
The property is zoned OI (Office & Institutional). No pending assessments and low monthly operating costs are noted in the offering.
Located as part of 7406 Chapel Hill Road in Cary, this office suite is presented as move-in ready for an owner-user or investor seeking an office condo within an OI zoning framework.
The property is zoned OI (Office & Institutional). No pending assessments and low monthly operating costs are noted in the offering.
Located as part of 7406 Chapel Hill Road in Cary, this office suite is presented as move-in ready for an owner-user or investor seeking an office condo within an OI zoning framework.
Key Highlights
- Move‑in‑ready ±1,125 SF office condominium at 7406 Chapel Hill Rd, Suite K (Year built: 1984).
- Zoned OI (Office & Institutional) with convenient ground‑floor access and a functional office layout for professional uses.
- Recent capital improvements include a new building roof, updated foyer finishes, and repaired/freshly painted window frames.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.8k | $30.00 |
| − Vacancy | −$7.4k | −$6.55 |
| EGI | $26.4k | $23.45 |
| − OpEx | −$6.6k | −$5.86 |
| NOI | $19.8k | $17.59 |
1,125 SF · lease $30.00/SF/yr · vacancy 21.83% · expense 25.00%
Alternative Uses
Best Use
Office B
$282.7K
$247.3K – $329.8K
NOI $19,787 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$314.8K
$275.4K – $367.3K
NOI $22,035 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office units - Move-in-ready office suite with ground-floor access and recent capital improvements, including a newer HVAC system.
Where is this office units located?
The property is located at 7406 Chapel Hill Road Cary, NC.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Move‑in‑ready ±1,125 SF office condominium at 7406 Chapel Hill Rd, Suite K (Year built: 1984).; Zoned OI (Office & Institutional) with convenient ground‑floor access and a functional office layout for professional uses.; Recent capital improvements include a new building roof, updated foyer finishes, and repaired/freshly painted window frames.
