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    1505 Cary Pkwy Cary, NC 27511

    Sponsored
    For Lease
    $36 SF/Yr

    Prime Cary location, multiple suites available.

    Lot size:
    63,554 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    The Rex Cary Medical Office building, located at 1505 SW Cary Pkwy in Cary, NC 27511, presents a unique opportunity for medical professionals. This three-story building, constructed in 2003, offers a total of 63,554 square feet of space, with multiple suites available for lease. Currently, there are 8,436 square feet of vacant space, divisible into units ranging from a minimum of 1,078 square feet to a maximum contiguous space of 4,693 square feet. The building boasts a total of three suites. The property is situated in Wake County and enjoys a convenient location with covered patient drop-off. This well-established medical office building is anchored by Rex Surgery Center and includes other key tenants such as Raleigh Endoscopy Center-Cary, North Carolina Heart & Vascular, Raleigh ENT Head and Neck Surgery, and Caroline Foot & Ankle Specialists. The building's prime location and established tenant base make it an attractive investment opportunity for medical practices seeking a high-profile presence in the thriving Cary market. The building's design and amenities cater specifically to the needs of medical practices, ensuring a comfortable and efficient environment for both patients and staff.

    Property Features for 1505 Cary Pkwy

    General Information

    Property type
    Medical offices
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    63,554 SF
    Total Rate
    190662

    Building Details

    Year Built
    2003
    Stories
    3

    Unit(s) available at that property

    Space
    Third Floor Suite 304
    Size
    4,693 SF
    Rate per SF
    $36
    Space
    Third Floor Suite 307
    Size
    1,078 SF
    Rate per SF
    $36
    Space
    Suite 201
    Size
    2,665 SF
    Rate per SF
    $37

    HighLights

    • Three‑story medical office building.
    • 63,554‑square‑foot medical office building.
    • Covered patient drop‑off.
    • Anchored by Rex Surgery Center.
    • Excellent medical office location with strong surrounding medical tenant base.
    Property Profile Location Intelligence

    Current Use by Public Records

    Foley Orthodontics Orthodontist North Carolina Surgery ... Surgical Center Raleigh Endoscopy Center ... Surgical Center REX Surgery Center ... Surgical Center Tjalma Jamie L Physical Therapist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8095502
    Latitude
    35.7543331

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    FAQs

    What type of property is this?
    Medical office - Prime Cary location, multiple suites available.
    Where is this medical office located?
    The property is located at 1505 Cary Pkwy Cary, NC.
    What is the lease rate?
    The lease rate is $36-$37 SF/Yr.
    What are key features of this property?
    This property features: Three-story medical office building.; 63,554-square-foot medical office building.; Covered patient drop-off.
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    1505 Cary Pkwy Cary, NC 27511
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1505 Cary Pkwy Cary, NC 27511
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