Standalone Office
For Sale
Contact for pricing
401 E Chatham Street, Cary, NC 27511
The interior includes a reception area, three offices, two conference rooms, and a kitchen.
Property Size1,563 SF
Price / SF$1.23
Days on Market8
Property Features for 401 E Chatham Street
General Information
Standard status
Active
Size
1,563 SF
Property subtype
Office
Lease Term
MG
Additional Details
Highway Access
Yes
Office Units
1
Property Use
Office
Building Details
Building Size
1,563 SF
Buildings
1
Properties For Sale
at 401 E Chatham Street
401 E Chatham St
Size
1,563 SF
Type
Office Building
Term
Negotiable
Listed By:
Karah Jennings McConnell
(919) 817-0705
Source:
Lee-associates
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 30 at 12:32PM
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 Karah Jennings McConnell
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Investment Insights
Based on property information with market context.
This standalone office property contains approximately 1,563 SF, arranged with a reception area, three offices, two conference rooms, and a kitchen. Two separate entrances provide access to the building, with additional gravel parking available to tenants at 405 E Chatham Street.
The property is in downtown Cary, near restaurants, shops, and civic amenities. I-40 is an 8-minute drive away, and US-1 is a 9-minute drive away.
The property is in downtown Cary, near restaurants, shops, and civic amenities. I-40 is an 8-minute drive away, and US-1 is a 9-minute drive away.
Key Highlights
- Standalone office building with approximately ±1,563 SF
- Reception area, three offices, and two conference rooms
- Kitchen and two separate entrances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,490
Suggested Prices Based on Cap Rates
Cap Rate 5%
$549,800
$549.8K
Cap Rate 7%
$392,714
$392.7K
Cap Rate 9%
$305,444
$305.4K
Market Conditions
NOI Build-Up for 1,563 SF
Gross rent
$46.9K $30.00/SF
− Vacancy
−$10.2K −$6.55/SF
EGI
$36.7K $23.45/SF
− OpEx
−$9.2K −$5.86/SF
NOI
$27.5K $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%
$549,800
Cap Rate 7%
$392,714
Cap Rate 9%
$305,444
Alternative Uses
Best Use
Office B
$392.7K
$343.6K – $458.2K
NOI $27,490 @ 7.0% cap · market cap 1,428.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$437.3K
$382.7K – $510.2K
NOI $30,613 @ 7.0% cap · market cap 1,591.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
Explore this area
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
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - The interior includes a reception area, three offices, two conference rooms, and a kitchen.
Where is this office building located?
The property is located at 401 E Chatham Street Cary, NC.
What are key features of this property?
This property features: Standalone office building with approximately ±1,563 SF; Reception area, three offices, and two conference rooms; Kitchen and two separate entrances
