2205 Evans Rd Cary, NC 27513
- Banks
- 3,254 SF
- 1.38 lot acres
Current Use by Public Records
- ATM (First Citizens Bank) / Atm
Property Details for 2205 Evans Rd
- Year built
- 1999
- Construction
- CONCRETE BLOCKS
- Lot size
- 1.38 lot acres
- Property size
- 3,254 SF
- Zone code
- GCP
- Property type
- Banks
- APN
- 0755.02-75-2748 0255776
- APU
- 755027527480255776
Description
This exceptional commercial land offering in Cary, North Carolina presents a unique development opportunity. Encompassing approximately 1.38 to 3.39 acres, the property boasts a highly visible location at the intersection of Evans Road (18,000 vehicles per day) and Weston Parkway (17,500 vehicles per day) in the Weston Major Planned Development District (PDD). Zoned Office and Institutional (O&I) with a Commercial District Overlay (CDO), this site allows for a wide range of commercial uses, including retail stores, restaurants, and offices. The land features rough-graded pads with existing municipal water, sewer, and stormwater infrastructure in place, simplifying the development process. The area demonstrates strong demographics, with an average household income exceeding $143,000 within a one-mile radius, and a robust employer base including Metlife, Biologics, Inc., Pennymac, and Intel Corporation, situated in nearby Lakeview and Centre Green Business Parks. The site's proximity to major roadways—three minutes from Highway 54, five minutes from I-40, and ten minutes from I-540—further enhances its appeal. The lack of established retail within a one-mile radius presents a significant opportunity to serve the substantial residential and employment population. The property's APN numbers are 0755760051, 0755752748, 0755751632, and 0755764026. The site is ideally positioned to capitalize on the growth and development within the Research Triangle Park area.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,505,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,585,000
- 6.5%
- $2,715,000
- 7%
- $2,460,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,190,000
- Geo Method
- $3,140,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,665,000
- Retail
- $2,790,000
- Mixed-Use
- $2,725,000
- Hospitality
- $2,305,000
- Educational
- $2,510,000
- Residential Income
- $2,560,000
- Energy
- $2,255,000
- Income-Based Land
- $2,310,000
- Food Service
- $2,245,000
Location Insight
- Map
- Local Demand
- City
- Cary
- County
- Wake
- State
- North Carolina
- Longitude
- -78.8069
- Latitude
- 35.8265
- CBSA code
- 39580
- CBSA name
- RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
