Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1616 Evans Rd Cary, NC 27513

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space available near Park West Village in Cary, NC.

    Type:Office
    Added:
    Jun 1, 2021
    Days on Market:
    1784
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 1616 Evans Rd

    General Information

    Standard status
    Active
    Property subtype
    Office

    Spaces For Lease

    at 1616 Evans Rd Contact us

    Suite 105 $25 /Mo

    Size
    2,000 SF
    Type
    Office
    $25.00 PSF, Full Service
    Contact us

    We can help!

    Listing Contact
    Lee Bishop

    Listing agent Lee Bishop License #349401

    Listing office NAI Tri Properties

    Listing date Jun 1, 2021

    Source Crexi

    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 NAI Tri Properties

    Overview

    Cary Office Space For Rent

    The property at 1616 Evans Road is situated at the intersection of Evans Road and NW Cary Parkway in Cary, North Carolina. It is located approximately 1 mile from Park West Village, a mixed-use development spanning 100 acres. The location offers convenient access to various amenities, including shops, upscale casual restaurants, a cinema, and event spaces that host concerts and food trucks.
    Location Intelligence

    Current Use by Public Records

    Ellen Curry, Ph.D. Physician Summers Monica E Physician Dr. Shane Boosey, ... Physician Miles Gilliom, PhD Physician Cary Psychiatry - Allison ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Dynamic Quest - Managed IT Services — 1616 Evans Rd Suite 205, Cary, NC 27513
    • Insight Enterprises, Inc. — 4000 Centregreen Way STE 100, Cary, NC 27513
    • aap3 Inc — 100 Cascade Pointe Ln #101, Cary, NC 27513
    • Broadview Solutions — 5000 Centregreen Way #500, Cary, NC 27513
    • Triangle Tech Net, LLC — 1000 Centregreen Way #190, Cary, NC 27513

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.7990517
    Latitude
    35.8160845

    Nearby Similar for Lease

    • Contact for pricing

      Freestanding Retail Building in Cary

      2,700 SF retail building with high visibility in Cary.
      122 SW Maynard Road, Cary, NC 27511
      View Details
    • Contact for pricing

      Downtown Cary Office Space Available

      Professional office space in the heart of Downtown Cary.
      404 E. Chatham St., Cary, NC 27511
      View Details
    • $22/mo

      Medical Office Condo Near Hospital

      Medical office condo near WakeMed Hospital and Waverly Place in Cary.
      301 Keisler Drive, Unit E, Cary, NC 27518
      View Details
    • $32/mo

      Restaurant Space on Chatham Street

      Second generation restaurant space with patio and on-site parking.
      701 E Chatham St, Cary, NC 27511
      View Details
    • Contact for pricing

      NC, Cary - 15000 Weston Parkway

      15000 Weston Pkwy, Cary, NC 27513
      View Details
    • Sponsored
      Contact for pricing

      NC, Cary - Towerview Ct

      280 Towerview Ct, Unit 1ST, Cary, NC 27513
      View Details
    • Contact for pricing

      Spaces center Green

      5000 Centre Green Way, Cary, NC 27513
      View Details
    • Contact for pricing

      Regency Parkway

      2500 Regency Pkwy Cary, Cary, NC 27518
      View Details
    • Contact for pricing

      Olde Cary Executive Office Suites

      Prime office spaces in a convenient, central Cary location.
      201 W Chatham Street, Cary, NC 27511
      View Details
    • $19/mo

      Downtown Cary Office Condo Lease

      2,165 RSF office condo for lease in downtown Cary.
      1151 Executive Circle, Ste. 202, Cary, NC 27511
      View Details
    • $15/mo

      Regency Office Park Sublease

      Office space available for sublease in Regency Office Park.
      8000 Regency Parkway, Cary, NC, 27518
      View Details
    • $31/mo

      Class A Office Building in Cary

      Modern, furnished office building with easy highway access and high-end finishes.
      106 Pinedale Springs Way, Cary, NC 27511
      View Details

    FAQs

    What type of property is this?
    Office property - Office space available near Park West Village in Cary, NC.
    Where is this office property located?
    The property is located at 1616 Evans Rd Cary, NC.
    What are key features of this property?
    This property features: Prime location at the intersection of Evans Road and NW Cary Parkway in Cary.; Proximity to Park West Village (1 mile).; Access to shops.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Lee Bishop
    Real Estate License ID: 349401
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!