New Retail Strip Center
For Sale
Contact for pricing
947 West Chatham Street, Cary, NC 27511
7,920 SF multi-tenant building in a thriving commercial market.
Property Size7,920 SF
Price / SF$75.76
Days on Market255
Property Features for 947 West Chatham Street
General Information
Standard status
Active
Size
7,920 SF
Property subtype
Retail, Office, Land
Zoning
OI
Investment Type
Redevelopment
Listing Agency:
CityPlat LLC
Listed By:
Nikita Zhitov · License #NC 251529
(919) 868-2007
Source:
Crexi
Added: Jan 24
Changed: Sep 28
Last Checked: Oct 5 at 7:18PM
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 CityPlat LLC
Investment Insights
Based on property information with market context.
Located in Cary, NC, this 7,920 SF multi-tenant building is a new retail strip center featuring 4 units, ideal for retail or office space. The property promises high visibility and steady foot traffic. The versatile layout provides flexibility for a range of businesses. The land is fully entitled and permit ready. The property is situated in one of Cary's most desirable commercial areas, placing businesses in the heart of a dynamic and fast-growing community. The surrounding area features an impressive mix of shopping, dining, and service destinations that draw steady foot and vehicle traffic. Nearby retail hubs such as Crossroads Plaza and Waverly Place offer additional customer attraction and visibility. With close proximity to major thoroughfares including US-1, 1-40, and Cary Parkway, the property is convenient for customers from across the Triangle. The property is surrounded by established neighborhoods with strong demographics, ensuring a reliable and engaged audience for a wide range of retail concepts. Continuous residential and commercial growth in Cary adds momentum to the area's increasing demand for quality retail and service offerings. High visibility and accessibility further enhance the property's appeal, making it ideal for businesses seeking a standout location. The nearby mix of entertainment venues, parks, and community amenities contributes to a lively atmosphere throughout the day.
Key Highlights
- Prime investment opportunity in the heart of Cary, NC.
- 7,920 SF new retail strip center featuring 4 units, ideal for retail or office space.**
- High visibility and steady foot traffic due to strategic location.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,590
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,011,800
$1.0M
Cap Rate 7%
$722,714
$722.7K
Cap Rate 9%
$562,111
$562.1K
Market Conditions
NOI Build-Up for 7,920 SF
Gross rent
$77.0K $9.72/SF
− Vacancy
−$4.7K −$0.59/SF
EGI
$72.3K $9.13/SF
− OpEx
−$21.7K −$2.74/SF
NOI
$50.6K $6.39/SF
Area
Cary, NC
Vacancy
6.12%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,011,800
Cap Rate 7%
$722,714
Cap Rate 9%
$562,111
Alternative Uses
Best Use
Retail
$722.7K
$632.4K – $843.2K
NOI $50,590 @ 7.0% cap · market cap 8.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,123 @ 7.0% cap · market cap 25.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
408
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
AutoZone
Shops & Services
5,345 visits/mo
0.5 miles
O'Reilly Auto Parts
Shops & Services
1,877 visits/mo
0.5 miles
CubeSmart Self Storage
Shops & Services
1,357 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Strip mall - 7,920 SF multi-tenant building in a thriving commercial market.
Where is this strip mall located?
The property is located at 947 West Chatham Street Cary, NC.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Prime investment opportunity in the heart of Cary, NC.; 7,920 SF new retail strip center featuring 4 units, ideal for retail or office space.**; High visibility and steady foot traffic due to strategic location.
