Ground-Floor Office Condo
For Sale
$255,000
7406 Chapel Hill Road, Cary, NC 27513
Well-maintained 1,125 SF office condominium with ground-floor access and recent capital improvements.
Property Size1,125 SF
Price / SF$226.67
Days on Market103
Property Features for 7406 Chapel Hill Road
General Information
Standard status
Active
Size
1,125 SF
Property subtype
Office
Zoning
OI
Building Details
Building Size
1,125 SF
Year Built
1984
Listed By:
Ren Powell
(910) 617-8705
Source:
Svn
Added: Jul 9
Changed: Oct 6
Last Checked: Oct 19 at 3:35AM
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 Ren Powell
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Investment Insights
Based on property information with market context.
This well-maintained office condominium, Suite K, offers approximately 1,125 SF of professional office space and is presented as move-in ready. The ground-floor layout is designed for flexible professional use and includes recent capital improvements such as a new building roof, updated foyer finishes, repaired and freshly painted window frames, and a newer HVAC system that is professionally serviced twice each year.
The property is located at 7406 Chapel Hill Road in Cary, NC, and is zoned OI (Office & Institutional). It provides convenient ground-floor access and is described as having no pending assessments and low monthly operating costs.
The space is maintained with an emphasis on operational continuity and readiness for an office tenant or owner-user.
The property is located at 7406 Chapel Hill Road in Cary, NC, and is zoned OI (Office & Institutional). It provides convenient ground-floor access and is described as having no pending assessments and low monthly operating costs.
The space is maintained with an emphasis on operational continuity and readiness for an office tenant or owner-user.
Key Highlights
- Well‑maintained 1,125 SF office condominium at 7406 Chapel Hill Road, Suite K, with ground‑floor access
- Zoned OI (Office & Institutional) and laid out for a variety of professional office uses
- Priced at $255,000 ($226.67 PSF)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,787
Cap Rate
7.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$395,740
$395.7K
Cap Rate 7%
$282,671
$282.7K
Cap Rate 9%
$219,856
$219.9K
Market Conditions
NOI Build-Up for 1,125 SF
Gross rent
$33.8K $30.00/SF
− Vacancy
−$7.4K −$6.55/SF
EGI
$26.4K $23.45/SF
− OpEx
−$6.6K −$5.86/SF
NOI
$19.8K $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%
$395,740
Cap Rate 7%
$282,671
Cap Rate 9%
$219,856
Alternative Uses
Best Use
Office B
$282.7K
$247.3K – $329.8K
NOI $19,787 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$314.8K
$275.4K – $367.3K
NOI $22,035 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
417
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
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Well-maintained 1,125 SF office condominium with ground-floor access and recent capital improvements.
Where is this office unit located?
The property is located at 7406 Chapel Hill Road Cary, NC.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Well‑maintained 1,125 SF office condominium at 7406 Chapel Hill Road, Suite K, with ground‑floor access; Zoned OI (Office & Institutional) and laid out for a variety of professional office uses; Priced at $255,000 ($226.67 PSF)
