First-Floor Medical
For Sale
Contact for pricing
Pending
3731 NW Cary Parkway 100, Cary, NC 27513
Remodeled reception area anchors a ready-to-occupy suite with exam rooms, imaging space, staff facilities, and separate entrances.
Property Size2,045 SF
Days on Market175
Property Features for 3731 NW Cary Parkway 100
General Information
Standard status
Pending
Size
2,045 SF
Property subtype
Office
Building Details
Year Built
2000
Listing Agency:
Century 21 Triangle Group Fuquay Varina
(919) 552-4517
Listed By:
Gina Clapp · License #288841
Source:
Crexi
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 30 at 4:29AM
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 Fuquay Varina
Investment Insights
Based on property information with market context.
This 2,045-square-foot medical office suite occupies the first floor of a building constructed in 2000. The layout includes a remodeled lobby and reception area, four private exam rooms with cabinetry, sinks, and exterior windows, plus a central nurses station and separate lab. A dedicated X-ray room, executive office, storage areas, client restroom, staff restroom, and kitchenette with sink complete the clinical and administrative configuration.
The suite also provides a private rear staff entrance and an opportunity for front-façade building signage. Ample parking supports patient access, while the POA covers water, sewer, and trash. The property is located at 3731 NW Cary Parkway, Suite 100, in Cary, North Carolina.
The suite also provides a private rear staff entrance and an opportunity for front-façade building signage. Ample parking supports patient access, while the POA covers water, sewer, and trash. The property is located at 3731 NW Cary Parkway, Suite 100, in Cary, North Carolina.
Key Highlights
- 2,045 SF first‑floor medical office suite
- Four private exam rooms with cabinets, sinks, and exterior windows
- Central nurses station, separate lab, and dedicated X‑ray room
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
$35,968
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
4.74%
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%
$719,360
$719.4K
Cap Rate 7%
$513,829
$513.8K
Cap Rate 9%
$399,644
$399.6K
Market Conditions
NOI Build-Up for 2,045 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
$61.4K $30.00/SF
− Vacancy
−$13.4K −$6.55/SF
EGI
$48.0K $23.45/SF
− OpEx
−$12.0K −$5.86/SF
NOI
$36.0K $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 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%
$719,360
Cap Rate 7%
$513,829
Cap Rate 9%
$399,644
Alternative Uses
Best Use
Office B
$513.8K
$449.6K – $599.5K
NOI $35,968 @ 7.0% cap · market cap 4.74%
Second Best
Healthcare Medical
$307.9K
$269.5K – $359.3K
NOI $21,556 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$572.2K
$500.7K – $667.6K
NOI $40,054 @ 7.0% cap · market cap 5.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Remodeled reception area anchors a ready-to-occupy suite with exam rooms, imaging space, staff facilities, and separate entrances.
Where is this medical office space located?
The property is located at 3731 NW Cary Parkway 100 Cary, NC.
What is the asking price?
The asking price for this property is $759,000.
What are key features of this property?
This property features: 2,045 SF first‑floor medical office suite; Four private exam rooms with cabinets, sinks, and exterior windows; Central nurses station, separate lab, and dedicated X‑ray room
