Multi-Office
New
For Sale
$915,000
220 Towne Village Dr, Cary, NC 27513
Configured with private offices, a conference room, breakroom, and additional workspace for a range of office operations.
Property Size2,656 SF
Price / SF$344.50
Days on Market2
Property Features for 220 Towne Village Dr
General Information
Standard status
Active
Size
2,656 SF
Property subtype
Office
Building Details
Building Size
2,656 SF
Year Built
2001
Listing Agency:
Lee & Associates - Raleigh Durham
Listed By:
Chip Lanier
(919) 291-6282
Source:
Lee-associates
Added: Oct 19
Last Checked: Oct 19 at 2:29PM
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 2,656-square-foot office condo was built in 2001 and includes four offices, a conference room, a breakroom, two bathrooms, and a large work area at the rear of the premises.
The property is near the Waldo Rood Boulevard and SW Cary Parkway intersection, behind The Fresh Market. Restaurants and retail options, Taylor Family YMCA, Bond Park, and Prestonwood Country Club are nearby.
The property is near the Waldo Rood Boulevard and SW Cary Parkway intersection, behind The Fresh Market. Restaurants and retail options, Taylor Family YMCA, Bond Park, and Prestonwood Country Club are nearby.
Key Highlights
- 2,656‑square‑foot office condo
- Four offices plus a conference room
- Rear work area, breakroom, and two bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,714
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$934,280
$934.3K
Cap Rate 7%
$667,343
$667.3K
Cap Rate 9%
$519,044
$519.0K
Market Conditions
NOI Build-Up for 2,656 SF
Gross rent
$79.7K $30.00/SF
− Vacancy
−$17.4K −$6.55/SF
EGI
$62.3K $23.45/SF
− OpEx
−$15.6K −$5.86/SF
NOI
$46.7K $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%
$934,280
Cap Rate 7%
$667,343
Cap Rate 9%
$519,044
Alternative Uses
Best Use
Office B
$667.3K
$583.9K – $778.6K
NOI $46,714 @ 7.0% cap · market cap 5.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$743.2K
$650.3K – $867.0K
NOI $52,021 @ 7.0% cap · market cap 5.69%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
448
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
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
Frequently Asked Questions
What type of property is this?
Office unit - Configured with private offices, a conference room, breakroom, and additional workspace for a range of office operations.
Where is this office unit located?
The property is located at 220 Towne Village Dr Cary, NC.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: 2,656‑square‑foot office condo; Four offices plus a conference room; Rear work area, breakroom, and two bathrooms
