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Property profile

503-519 Sorrell St Cary, NC 27513

OFF-MARKET
Land
2.17 ac lot
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Property summary

AI-generated overview

This exceptional 2.17-acre commercial land parcel in downtown Cary, NC, presents a remarkable development opportunity. Located on Sorrell Street, this property (APN 503, 505, 507, 511, 517, and 519) enjoys a prime location steps from Cary's vibrant downtown and a new park, offering easy access to I-40, NC-54, Maynard Loop, Harrison Ave, and RDU Airport. Zoned for Medium Density Town Center Subdistrict development, the site allows for various projects, including approximately 22 single-family homes, 26+ townhomes, or a 60+ unit condominium building. The asking price is $3,100,000. Two adjacent parcels (MLS #10049160 and #10049154) are also available, potentially expanding the total acreage to 3.07 acres. This presents a unique chance to create a significant development in a highly desirable area. The property's strategic location and zoning make it an ideal investment for developers seeking to capitalize on Cary's thriving market. This is a rare opportunity to build in one of the most sought-after areas in the country. The zip code is 27513, and the property is situated in Wake County.

Property profile

Verified
Property type Land
Lot 2.17 ac (94,525 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

503-519 Sorrell St Cary, NC 27513
Cary metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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