Medical Office Property with
New
For Sale
$775,000
1513 N Main Street, Fuquay Varina, NC 27526
Commercial Sale, Fuquay Varina, NC
Property Size2,513 SF
Lot Size0.82 Acres
Price / SF$308.40
Days on Market1
Property Features for 1513 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CC-CZ
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Basement
Interior features
Smooth Ceilings, Storage
Exterior features
Rain Gutters, Storage
Basement
Unfinished, Interior Entry, Concrete, Exterior Entry, Walk-Out Access
Lot features
Landscaped, Level
Standard status
Active
APN
066704915746000 0015082
Size
2,513 SF
Lot size
0.82 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Lo125-128 Robert Neil & Jean C Schnaak Bm2023-00193
Tax Annual Amount
7507
Legal Description
Lo125-128 Robert Neil & Jean C Schnaak Bm2023-00193
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating), Central
Water source
Public
Amenities
thermal windows
updated plumbing
Rinnai tankless water heater
HVAC
roof
original wood floors
crown molding
built-ins
sunroom
fireplaces
modern kitchen
brick patio
Building Details
Year built
1946
Floors in Building
1
Flooring type
Hardwood, Carpet
Building materials
Brick
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Century 21 Triangle Group · Century 21 Real Estate
(919) 552-4517
Listed By:
Tim Matthews · License #74333
(919) 291-1991
Added: Sep 24
Last Checked: Sep 24 at 5:06PM
MLS# 10194646
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.
Set on 0.82 acres along N Main Street, this 2,513-square-foot brick building dates to 1946 and received updates in 2021 for residential use. Its interior includes hardwood and carpet flooring, built-ins, a sunroom, two fireplaces, a kitchen, and one-and-a-half bathrooms. Four rooms offer configurable interior space, while the unfinished walk-down basement adds 800 square feet. Thermal windows, updated plumbing, HVAC, a roof update, and a Rinnai tankless water heater are among the reported improvements. Commercial use will require upgrades and modifications, which buyers should verify.
Two N Main Street access points connect through a horseshoe driveway, with designated parking on site. The property also includes a brick patio, an approximately 800-square-foot detached workshop, and additional land. N Main Street is identified as NC-55/NC-401.
Two N Main Street access points connect through a horseshoe driveway, with designated parking on site. The property also includes a brick patio, an approximately 800-square-foot detached workshop, and additional land. N Main Street is identified as NC-55/NC-401.
Key Highlights
- 2,513‑square‑foot building on 0.82 acres
- Four interior rooms, sunroom, two fireplaces, kitchen, and 1 1/2 bathrooms
- Unfinished basement provides an additional 800sf
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
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A 1946 building updated in 2021 offers adaptable rooms, a basement, and a detached workshop; commercial conversion will require modifications.
Where is this medical office space located?
The property is located at 1513 N Main Street 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 0.82 acres; Four interior rooms, sunroom, two fireplaces, kitchen, and 1 1/2 bathrooms; Unfinished basement provides an additional 800sf
