Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Single-Story Office Building For Rent Title is generated by Realmo AI

    500 Gregson Dr, Cary, NC 27511

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    108,000 SF office building in MacGregor Park available for rent.

    Type:Office
    Property size:
    108,000 SF
    Lot size:
    33.00 Acres
    Added:
    Jan 31, 2022
    Days on Market:
    1584
    Last Refresh:
    May 12 at 8:57 pm

    Property Features for 500 Gregson Dr

    General Information

    Standard status
    Active
    Size
    108,000 SF
    Lot size
    33.00 Acres
    Property subtype
    Office

    Building Details

    Year Built
    1988

    Spaces For Lease

    at 500 Gregson Dr Contact us

    We can help!

    Listing Contact
    Thomas Bradshaw

    Listing agent Thomas Bradshaw License #NC 145780

    Listing office Capital Associates

    Listing date Jan 31, 2022

    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 Capital Associates

    HighLights

    • High‑tech building with dual‑feed power from two different primary feeders
    • Multiple SONET rings maximize telephone and data transmission speed and capacity
    • Located on a 33‑acre site in MacGregor Park
    • Excellent call center or data center space
    • Abundant parking
    • Suite 170 (9,963 SF) is subdividable and available now

    Overview

    The property at 500 Gregson Drive is a 108,000 square foot single-story office building situated on a 33-acre site within MacGregor Park. The location offers proximity to hotels, restaurants, banks, and day care centers. The building is equipped with dual-feed power from two primary feeders and multiple SONET rings to enhance telephone and data transmission capabilities. Additional land is available for build-to-suit options. Suite 170, comprising 9,963 square feet, is currently available. This suite is subdividable and suitable for training, engineering, network operations, or a call center.
    Property Profile Location Intelligence

    Current Use by Public Records

    American Airlines Federal ... Credit Union Arista Networks Inc. (Bike/Boat/Book/etc) Store Sellware Marketing & Advertising Appraisal Nation Real Estate Agency Pepsi Bottling Ventures Corporate Office

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8147165
    Latitude
    35.7334937

    Nearby Similar for Lease

    • $11,000/Mo
      2,700 SF

      Freestanding Retail Building in Cary

      2,700 SF retail building with high visibility in Cary.
      122 SW Maynard Road, Cary, NC 27511
      View Details
    • $129-$4,216/Mo
      11-1,292 SF

      NC, Cary - 15000 Weston Parkway

      15000 Weston Pkwy, Cary, NC 27513
      View Details
    • $129-$5,487/Mo
      11-1,292 SF

      NC, Cary - Towerview Ct

      280 Towerview Ct, Unit 1ST, Cary, NC 27513
      View Details
    • $129-$16,839/Mo
      11-1,353 SF

      Spaces center Green

      5000 Centre Green Way, Cary, NC 27513
      View Details
    • Sponsored
      $129-$4,878/Mo
      11-1,292 SF

      Regency Parkway

      2500 Regency Pkwy Cary, Cary, NC 27518
      View Details
    • $19 SF/Yr
      2,165 SF

      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
    • $2,126/Mo
      1,109 SF

      Downtown Cary Office Space Available

      Professional office space in the heart of Downtown Cary.
      404 E. Chatham St., Cary, NC 27511
      View Details
    • $32 SF/Yr
      5,287 SF

      Restaurant Space on Chatham Street

      Second generation restaurant space with patio and on-site parking.
      701 E Chatham St, Cary, NC 27511
      View Details
    • $22 SF/Yr
      12,000 SF

      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
    • $24 SF/Yr
      1,904 SF

      Cary Office Space Available

      Office space for lease in Cary with excellent visibility.
      111 James Jackson Avenue, Cary, North Carolina 27513
      View Details
    • $425/Mo
      400 SF

      Olde Cary Executive Office Suites

      Prime office spaces in a convenient, central Cary location.
      201 W Chatham Street, Cary, NC 27511
      View Details
    • $9,800/Mo
      3,600 SF

      Furnished Office Space For Lease

      Move-in ready, furnished office space in prime Cary location.
      105 Baines Ct, Cary, NC
      View Details

    FAQs

    What type of property is this?
    Office building - 108,000 SF office building in MacGregor Park available for rent.
    Where is this office building located?
    The property is located at 500 Gregson Dr Cary, NC.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: High‑tech building with dual‑feed power from two different primary feeders; Multiple SONET rings maximize telephone and data transmission speed and capacity; Located on a 33‑acre site in MacGregor Park
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Thomas Bradshaw
    Real Estate License ID: NC 145780
    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

    Thank You for Inquiry
    500 Gregson Dr, Cary, NC 27511
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!