Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    951 High House Rd Cary, NC 27513
    Back to Search
    Property profile & analytics

    951 High House Rd Cary, NC 27513

    View on Map
    • Neighborhood centers
    • 7,703 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • My Dry Cleaner dba Preston Cleaners / (Bike/Boat/Book/etc) Store

    Property Details for 951 High House Rd

    Property size
    7,703 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 7,703 square foot retail strip center is ideally situated at 951 High House Road in Cary, North Carolina, within the desirable Preston Corners area. Boasting a prominent location near the intersection of High House Road and SW Cary Parkway, this property offers excellent visibility and accessibility. The center features a multiple-tenancy configuration with one currently available space totaling 2,665 square feet. The building benefits from a double storefront entry with ample glass, maximizing natural light and showcasing tenant spaces. The property includes 38 convenient parking spaces for customers and employees. The HVAC system has been upgraded, featuring two 4-ton units ensuring efficient climate control. This well-maintained property has a history of long-term tenancy, with an average exceeding 20 years, demonstrating its appeal and stability. The property sits on a 1.16-acre lot and is zoned for retail use in Wake County. The lease rate is $30.00 per square foot, NNN, plus $7.05 per square foot for TICAM. This presents a compelling investment opportunity in a thriving Cary market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8284
    Latitude
    35.7872

    Comparable in this City

    • Value Estimation
      $1,210,000
      16,500 SF

      3635 Cary Pkwy

      SHOPPING CENTER, STRIP CENTER • 16,500 SF
      3635 Cary Pkwy, Cary, NC 27513-8913
      View Details
    • Value Estimation
      $1,490,000
      21,360 SF

      969 Harrison Ave

      SHOPPING CENTER, STRIP CENTER • 21,360 SF
      969 Harrison Ave, Cary, NC 27513-3904
      View Details
    • Value Estimation
      $1,440,000
      22,055 SF

      1275 Maynard Rd

      SHOPPING CENTER, STRIP CENTER • 22,055 SF
      1275 Maynard Rd, Cary, NC 27513-8726
      View Details
    • Value Estimation
      $1,915,000
      32,436 SF

      1235 Maynard Rd

      SHOPPING CENTER, STRIP CENTER • 32,436 SF
      1235 Maynard Rd, Cary, NC 27513-8720
      View Details
    • Value Estimation
      $2,125,000
      28,102 SF

      121 Maynard Rd

      SHOPPING CENTER, STRIP CENTER • 28,102 SF
      121 Maynard Rd, Cary, NC 27513
      View Details
    • Value Estimation
      $1,400,000
      19,759 SF

      902 Maynard Rd

      SHOPPING CENTER, STRIP CENTER • 19,759 SF
      902 Maynard Rd, Cary, NC 27513-4163
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Retail Pad Sites For Sale

      Retail pad sites available within a planned development.
      Winston Hill Dr, Cary, NC 27513
      View Details
    • Contact for pricing

      Cary Flex Space Opportunity

      Flex space opportunity in downtown Cary's hottest area.
      400 Field St, Cary, NC 27513
      View Details
    • $320,000
      Pending

      Vacant Lot in Downtown Cary

      Vacant land in downtown Cary, a builder/investor opportunity.
      120 Boyd St, Cary, NC 27513
      View Details
    • New
      $455,000
      Pending

      Cary Commercial Property Opportunity

      Remodeled commercial property near downtown Cary Park.
      8704 Chapel Hill Rd, Cary, NC 27513
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Grocery Anchored Retail Center

      Located at Harrison Ave and Maynard Rd in Cary, NC.
      973 N Harrison Ave, Cary, NC 27513
      View Details
    • Contact for pricing

      Retail Space in Cary Center

      Grocery-anchored retail space available at a busy Cary intersection.
      Maynard Rd & Harrison Ave, Cary, NC 27513
      View Details
    • Contact for pricing
      6,718 SF

      Harris Teeter Anchored Shopping Center

      Newly renovated shopping center at a heavily traveled intersection.
      1203 Northwest Maynard Rd, Cary, NC 27513
      View Details
    • Contact for pricing

      Retail and Residential Co-tenanted Property

      Retail property with high-end apartments on-site near I-40.
      N Harrison Ave & Weston Pkwy, Cary, NC 27513
      View Details
    • Contact for pricing

      Retail Center in Cary

      Premier retail center with diverse tenant mix in Cary.
      994 High House Rd, Cary, NC 27513
      View Details
    • Contact for pricing

      Retail Space with Patio

      Endcap retail space with a 500 SF patio.
      1005 Portrait Dr, Cary, NC 27513
      View Details
    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.
    951 High House Rd
    Cary, NC 27513
    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
    951 High House Rd, Cary, NC, 27513
    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!