Two-Suite Office
311 E Chatham Street, Cary, NC 27511
For Sale
Contact for pricing
Standalone office property with flexible suite configuration and on-site parking near Downtown Cary amenities.
Property Size2,848 SF
Price / SF$0.02
Days on Market55
Property Features for 311 E Chatham Street
General Information
Standard status
Size
Property subtype
Lease Term
Building Details
Building Size
Properties For Sale
at 311 E Chatham Street
311 E Chatham St
Size
2,848 SF
Term
Negotiable
Listing Agency:
Lee & Associates | Raleigh
Listed By:
Moss Withers · License #262680
(919) 576-2501
Source:
Lee-associates
Added: Sep 16
Changed: Nov 6
Last Checked: Nov 8 at 3:54AM
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 Lee & Associates | Raleigh
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Investment Insights
Based on property information with market context.
This standalone office building contains approximately 2,848 SF arranged as two suites that can be leased together or separately. Suite 100 provides 1,485 SF on the first floor, while Suite 200 offers 1,363 SF upstairs. The configuration supports both full-building occupancy and smaller office requirements within the same property.
On-site parking is available, and the property is near Downtown Cary amenities. Regional access includes an approximately 8-minute drive to I-40 and a 9-minute drive to US-1. The lease structure is modified gross, with tenants responsible for utilities and janitorial service.
On-site parking is available, and the property is near Downtown Cary amenities. Regional access includes an approximately 8-minute drive to I-40 and a 9-minute drive to US-1. The lease structure is modified gross, with tenants responsible for utilities and janitorial service.
Key Highlights
- Approximately 2,848 SF of office space
- Two suites available together or separately
- Suite 100: 1,485 SF downstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,119
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,380
$522.4K
Cap Rate 7%
$373,129
$373.1K
Cap Rate 9%
$290,211
$290.2K
Market Conditions
NOI Build-Up for 1,485 SF
Gross rent
$44.6K $30.00/SF
− Vacancy
−$9.7K −$6.55/SF
EGI
$34.8K $23.45/SF
− OpEx
−$8.7K −$5.86/SF
NOI
$26.1K $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%
$522,380
Cap Rate 7%
$373,129
Cap Rate 9%
$290,211
Alternative Uses
Best Use
Office B
$373.1K
$326.5K – $435.3K
NOI $26,119 @ 7.0% cap · market cap 106,608.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$415.5K
$363.6K – $484.8K
NOI $29,086 @ 7.0% cap · market cap 118,718.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,000
Businesses Nearby
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Business Placement
Demographics for 27511, NC
32,786
Population
14,359
Households
2.3
Avg Household Size
42
Median Age
58%
College-Educated
93%
High-School Grad
11.7 sq mi
ZIP Area
2,802
Density / Sq Mi
$104,072
Median Household Income
$50,778
Median Earnings
$1,436
Median Rent
$416,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Cary, NC
Properties on Market for Office Units in Cary
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Standalone office property with flexible suite configuration and on-site parking near Downtown Cary amenities.
Where is this office unit located?
The property is located at 311 E Chatham Street Cary, NC.
What are key features of this property?
This property features: Approximately 2,848 SF of office space; Two suites available together or separately; Suite 100: 1,485 SF downstairs
