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    1 & I-40 Us Hwy Cary, NC 27518

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    1 & I-40 Us Hwy Cary, NC 27518

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    • Neighborhood centers
    • 586,786 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 1 & I-40 Us Hwy

    Property size
    586,786 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Crossroads Plaza, a dominant power center in Cary, NC, presents an exceptional retail investment opportunity. This 586,786 square foot strip center, located at the high-traffic intersection of US Hwy 1 & I-40 in Wake County (zip code 27518), offers multiple tenancy options. Currently, there are five suites available, ranging from a minimum of 2,400 square feet to a maximum contiguous space of 43,015 square feet. A significant 54,080 square feet of vacant space provides immediate potential for expansion or new tenant acquisition. The property boasts ample parking with 4,040 spaces, ensuring convenient access for customers. This prime location within Crossroads Plaza guarantees high visibility and significant foot traffic, making it an ideal investment for businesses seeking a strong presence in a thriving Cary market. The property's strategic placement at the intersection of US Hwy 1 and I-40 provides unparalleled access and exposure to a large consumer base. This is a rare opportunity to secure space in one of Cary's most successful retail centers. Detailed lease terms and financial information are available upon request.

    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
    -78.7367
    Latitude
    35.7619

    Comparable in this City

    • Value Estimation
      $625,000
      8,770 SF

      1010 Tryon Vlg Dr

      SHOPPING CENTER, STRIP CENTER • 8,770 SF
      1010 Tryon Vlg Dr, Cary, NC 27518-7193
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    • Value Estimation
      $595,000
      8,178 SF

      1040 Tryon Vlg Dr

      SHOPPING CENTER, STRIP CENTER • 8,178 SF
      1040 Tryon Vlg Dr, Cary, NC 27518-7195
      View Details
    • Value Estimation
      $2,145,000
      28,996 SF

      8204 Tryon Woods Dr

      SHOPPING CENTER, STRIP CENTER • 28,996 SF
      8204 Tryon Woods Dr, Cary, NC 27518-7163
      View Details
    • Value Estimation
      $15,340,000
      14,560 SF

      3420 10th 10th Rd

      SHOPPING CENTER, STRIP CENTER • 14,560 SF
      3420 10th 10th Rd, Cary, NC 27518-6100
      View Details
    • Value Estimation
      $11,755,000
      35,655 SF

      3454 Kildaire Farm Rd

      SHOPPING CENTER, STRIP CENTER • 35,655 SF
      3454 Kildaire Farm Rd, Cary, NC 27518
      View Details
    • Value Estimation
      $2,170,000
      34,840 SF

      6408 Tryon Rd

      SHOPPING CENTER, STRIP CENTER • 34,840 SF
      6408 Tryon Rd, Cary, NC 27518-7050
      View Details

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      Cary Medical Condo For Sale

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      Cary Land For Sale

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      2,616 SF

      Cary Office Condo For Sale

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      Cary Lab Condo For Sale

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      Class A Medical Office Development

      Medical office development near WakeMed Cary Hospital.
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    Similar Nearby for Lease

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      10,820 SF

      Mixed-Use Lifestyle Center in Cary

      207,000 SF mixed-use center with shopping and greenspace.
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      17,006 SF

      Retail Space in Cary Center

      Retail space for lease in a Whole Foods-anchored center.
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      Retail Outparcel in Cary, NC

      Located in Cary, near Raleigh, adjacent to regional shopping center.
      1805 Walnut St, Cary, NC 27518
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    • Contact for pricing

      Retail Space in Cary, NC

      Retail space available for rent in Cary, North Carolina.
      2011 Walnut St, Cary, NC 27518
      View Details
    • Contact for pricing

      Retail Spaces Available For Rent

      Retail spaces available, ranging from 1,454 to 2,000 SqFt.
      Crescent Commons Dr, Cary, NC 27518
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    • Contact for pricing

      Retail and Office Space Available

      Retail and office spaces for lease in Cary, North Carolina.
      2425 Kildaire Farm Rd, Cary, NC 27518
      View Details
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    Cary, NC 27518
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    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
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    1 & I-40 Us Hwy, Cary, NC, 27518

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