Automotive Service
For Sale
$3,052,096
1380 Northwest Maynard Road, Cary, NC 27513
Automotive service facility on an infill parcel with major road traffic and a long-term lease in place.
Property Size7,485 SF
Lot Size1.14 Acres
Price / SF$407.76
Days on Market51
Property Features for 1380 Northwest Maynard Road
General Information
Standard status
Active
Size
7,485 SF
Lot size
1.14 Acres
Property subtype
Retail
Zoning
GCCU
Additional Details
Cap Rate
6.2%
Traffic Count
21,000 vehicles/day
Building Details
Year Built
1998
Tenancy
Single
Listing Agency:
(919) 576-2501
Listed By:
Moss Withers · License #262680
(919) 576-2501
Source:
Lee-associates
Added: Jun 17
Changed: Jul 10
Last Checked: Aug 6 at 4:56AM
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 Moss Withers
Investment Insights
Based on property information with market context.
The property is a 7,485-square-foot automotive service facility built on a 1.14-acre infill parcel. The tenant is in place, and the lease extends through July 31, 2033, providing remaining term and 3% annual rent escalations. Three additional five-year renewal options are included, giving further potential for continued occupancy.
Located on Northwest Maynard Road within Cary’s inner commercial ring, the site benefits from high visibility with an estimated traffic count of 121,000 VPD. The offering is zoned GCCU (General Commercial – Conditional Use) under the Town of Cary, supporting commercial activity on this mature corridor.
For buyers and operators seeking a stabilized automotive-oriented real estate asset, the combination of an existing operating history, prominent roadway exposure, and a long lease term with scheduled escalations offers a straightforward fit. The tenant’s lease structure through 2033, along with renewal options, can help support continuity for the next ownership cycle. The property is currently generating base rent effective July 17, 2026, and is offered for sale at $3,052,096.
Located on Northwest Maynard Road within Cary’s inner commercial ring, the site benefits from high visibility with an estimated traffic count of 121,000 VPD. The offering is zoned GCCU (General Commercial – Conditional Use) under the Town of Cary, supporting commercial activity on this mature corridor.
For buyers and operators seeking a stabilized automotive-oriented real estate asset, the combination of an existing operating history, prominent roadway exposure, and a long lease term with scheduled escalations offers a straightforward fit. The tenant’s lease structure through 2033, along with renewal options, can help support continuity for the next ownership cycle. The property is currently generating base rent effective July 17, 2026, and is offered for sale at $3,052,096.
Key Highlights
- 7,485 SF automotive service facility on a 1.14‑acre infill parcel (built in 1998)
- Base rent of $189,230 effective July 17, 2026 ($25.28/SF)
- Lease in place through July 31, 2033, with 3% annual rent escalations and three additional five‑year renewal options
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
$93,579
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
3.07%
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%
$1,871,580
$1.9M
Cap Rate 7%
$1,336,843
$1.3M
Cap Rate 9%
$1,039,767
$1.0M
Market Conditions
NOI Build-Up for 7,485 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
$141.9K $18.96/SF
− Vacancy
−$8.2K −$1.10/SF
EGI
$133.7K $17.86/SF
− OpEx
−$40.1K −$5.36/SF
NOI
$93.6K $12.50/SF
Area
Cary, NC
Vacancy
5.80%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
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%
$1,871,580
Cap Rate 7%
$1,336,843
Cap Rate 9%
$1,039,767
Alternative Uses
Best Use
Industrial
$1.34M
$1.17M – $1.56M
NOI $93,579 @ 7.0% cap · market cap 3.07%
Second Best
Retail
$683.0K
$597.6K – $796.9K
NOI $47,811 @ 7.0% cap · market cap 1.57%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,603 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
21,000 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
688
Businesses Nearby
51k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 52%
Shops & Services 26%
Dining 15%
Apparel 4%
Harris Teeter
Groceries
26,559 visits/mo
0.3 miles
Wendy's
Dining
7,698 visits/mo
0.3 miles
Shell
Shops & Services
5,431 visits/mo
0.0 miles
FedEx Office Print & Ship Center
Shops & Services
4,709 visits/mo
0.2 miles
Once Upon A Child
Apparel
2,231 visits/mo
0.3 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
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- NC Complete Auto Care — 121 High House Rd, Cary, NC 27511
- Atlantic Tire & Service — 1380 NW Maynard Rd, Cary, NC 27513
- Gerber Collision & Glass — 201 Maynard Crossing Ct, Cary, NC 27513
- Volvo Cars of Cary Service Department — 1375 NW Maynard Rd, Cary, NC 27513
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service facility on an infill parcel with major road traffic and a long-term lease in place.
Where is this auto shop located?
The property is located at 1380 Northwest Maynard Road Cary, NC.
What is the asking price?
The asking price for this property is $3,052,096.
What are key features of this property?
This property features: 7,485 SF automotive service facility on a 1.14‑acre infill parcel (built in 1998); Base rent of $189,230 effective July 17, 2026 ($25.28/SF); Lease in place through July 31, 2033, with 3% annual rent escalations and three additional five‑year renewal options
