Medical Office
New
For Sale
$775,000
1513 N Main St, Fuquay Varina, NC 27526
CC-CZD zoning supports medical, professional office, retail and service uses, with commercial conversion work required.
Property Size2,513 SF
Lot Size0.82 Acres
Price / SF$308.40
Days on Market4
Property Features for 1513 N Main St
General Information
Standard status
Active
Size
2,513 SF
Lot size
0.82 Acres
Property subtype
Commercial
Zoning
CC-CZD
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
two fireplaces
modern kitchen
sunroom
brick patio
detached workshop
Building Details
Year Built
1946
Year Renovated
2021
Buildings
1
Building Size
2,513 SF
Listing Agency:
Century 21 Triangle Group
Listed By:
Tim Matthews · License #74333
(919) 291-1991
Source:
Myhomesearchtriangle
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 4:54AM
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 Century 21 Triangle Group
Investment Insights
Based on property information with market context.
The 2,513-square-foot building dates to 1946 and received updates in 2021 for residential use. Its four main rooms, original wood floors, built-ins, sunroom, two fireplaces, kitchen and 1½ bathrooms provide a starting point for a professional layout. Improvements include thermal windows, updated plumbing, a tankless water heater, HVAC and a newer roof. An unfinished walk-down basement adds approximately 800 square feet of space. Commercial use will require modifications, which buyers should confirm for their intended use.
The property includes approximately 0.82 acre along N Main Street (NC-55/NC-401), with two street access points joined by a horseshoe driveway and designated parking. The site carries CC-CZD (Corridor Commercial-Conditional) zoning, which supports medical and professional office, retail and service uses. A brick patio is also present.
The property includes approximately 0.82 acre along N Main Street (NC-55/NC-401), with two street access points joined by a horseshoe driveway and designated parking. The site carries CC-CZD (Corridor Commercial-Conditional) zoning, which supports medical and professional office, retail and service uses. A brick patio is also present.
Key Highlights
- 2,513‑square‑foot building on approximately 0.82 acre
- CC‑CZD (Corridor Commercial‑Conditional) zoning for medical/professional office, retail and service uses
- Two N Main Street access points connect through a horseshoe driveway
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
$38,576
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
4.98%
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%
$771,520
$771.5K
Cap Rate 7%
$551,086
$551.1K
Cap Rate 9%
$428,622
$428.6K
Market Conditions
NOI Build-Up for 2,513 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
$61.8K $24.60/SF
− Vacancy
−$10.4K −$4.13/SF
EGI
$51.4K $20.47/SF
− OpEx
−$12.9K −$5.12/SF
NOI
$38.6K $15.35/SF
Area
Wake County, NC
Vacancy
16.80%
Lease Rate
$24.60 /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%
$771,520
Cap Rate 7%
$551,086
Cap Rate 9%
$428,622
Alternative Uses
Best Use
Office B
$551.1K
$482.2K – $642.9K
NOI $38,576 @ 7.0% cap · market cap 4.98%
Second Best
Healthcare Medical
$491.2K
$429.8K – $573.1K
NOI $34,387 @ 7.0% cap · market cap 4.44%
Theoretical Best
Specialty Retail
$717.5K
$627.8K – $837.1K
NOI $50,227 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 27526, NC
56,089
Population
22,612
Households
2.5
Avg Household Size
39
Median Age
46%
College-Educated
95%
High-School Grad
98.2 sq mi
ZIP Area
571
Density / Sq Mi
$105,055
Median Household Income
$54,786
Median Earnings
$1,591
Median Rent
$372,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - CC-CZD zoning supports medical, professional office, retail and service uses, with commercial conversion work required.
Where is this medical office space located?
The property is located at 1513 N Main St Fuquay Varina, NC.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 2,513‑square‑foot building on approximately 0.82 acre; CC‑CZD (Corridor Commercial‑Conditional) zoning for medical/professional office, retail and service uses; Two N Main Street access points connect through a horseshoe driveway
