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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1000 Cres Grn Cary, NC 27518-8116

    • Medical offices
    • 16,704 SF
    • 1.75 lot acres
    OFF-MARKET
    Last Sale
    Jun 02, 2022
    $6,500,000
    Value Estimations
    $6,780,000
    Show details
    Cap Rate Potential
    2.5%
    Medical offices
    Location Intelligence
    Property ID
    US53-1268419
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Riccobene Dentistry for Kids / Emergency Dental Service / Pediatric Dentist
    • Riccobene Associates Family Dentistry / Dental Clinic / Emergency Dental Service
    • Cary Center for GI Health / Medical Clinic
    • Dr. Michael R. Pike, MD / Gastroenterologist
    • Cherry Janette K / Nursing Agency

    Property Details for 1000 Cres Grn

    Year built
    1999
    Construction
    BRICK
    Lot size
    1.75 lot acres
    Property size
    16,704 SF
    Zone code
    OIP
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    0762.19-51-7937 0245607
    APU
    762195179370245607

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,010,000
      ML approach
      $6,985,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,083,000
      Market price range: $4.58M - $7.01M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $5,755,000
      Current use
      COMMERCIAL (GENERAL)
      $9,875,000
      Change: +72% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $9,205,000
      Change: +60% Conversion: Difficult
      RESTAURANT
      $8,700,000
      Change: +51% Conversion: Difficult
      RETAIL STORES
      $7,720,000
      Change: +34% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $7,055,000
      Change: +23% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.7785
    Latitude
    35.7335
    CBSA code
    39580
    CBSA name
    RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $39,594
    $841,579
    $3,109,905
    $3,951,484
    -
    $841,579
    $3,109,905
    $3,951,484

    Comparable in this City

    • Value Estimation
      $565,000
      16,456 SF

      300 Keisler Dr

      MEDICAL BUILDING • 16,456 SF
      300 Keisler Dr, Cary, NC 27518-7083
      View Details
    • Value Estimation
      $11,315,000
      28,437 SF

      400 Ashville Ave

      MEDICAL BUILDING • 28,437 SF
      400 Ashville Ave, Cary, NC 27518-6134
      View Details
    • Value Estimation
      $380,000
      2,752 SF

      200 Ashville Ave

      MEDICAL BUILDING • 2,752 SF
      200 Ashville Ave, Cary, NC 27518-6659
      View Details
    • Value Estimation
      $3,875,000
      11,302 SF

      601 Keisler Dr

      MEDICAL BUILDING • 11,302 SF
      601 Keisler Dr, Cary, NC 27518-6566
      View Details
    • Value Estimation
      $320,000
      2,394 SF

      301 Keisler Dr Ste B

      MEDICAL BUILDING • 2,394 SF
      301 Keisler Dr Ste B, Cary, NC 27518-7018
      View Details
    • Value Estimation
      $235,000
      1,388 SF

      2703 Jones Franklin Rd Ste, Unit 101

      MEDICAL BUILDING • 1,388 SF
      2703 Jones Franklin Rd Ste, Cary, NC 27518-7172
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      87,000 SF

      Class A Medical Office Development

      Medical office development near WakeMed Cary Hospital.
      115 Kildaire Park Dr, Cary, NC 27518
      View Details
    • $2,400,000
      4,800 SF

      Cary Lab Condo For Sale

      4,800 SF lab condo in Parkway Professional Park.
      100 Parkway Office Ct, Cary, NC 27518
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    • Contact for pricing
      47.41 Acres

      Cary Mixed-Use Development Land

      47 Acres, Prime Cary Location
      8200 Regency Pkwy, Cary, NC 27518
      View Details
    • $981,000
      2 SF

      Cary Office Condo For Sale

      2,616 SF office condo in Parkway Professional Park, Cary.
      135 Parkway Office Ct, Cary, NC 27518
      View Details
    • $663,740
      1,724 SF

      Move-in Ready Office Condo

      Well-maintained office condo ideal for professional or administrative use.
      2703 Jones Franklin Rd, Cary, NC 27518
      View Details
    • $981,000
      2,616 SF

      Cary Office Condo: Prime Location

      2,616 SF Office Condo, Vacant, Owner-User Opportunity
      135 Parkway Office Ct, Cary, NC 27518
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      91,227 SF

      Health Park I Medical Office Space

      Cary, NC medical office suites available.
      115 Kildaire Park Dr, Cary, NC 27518
      View Details
    • $34 SF/Yr
      30,492 SF

      Cary Medical Office Building for Lease

      Prime Cary location, 3 suites available, ample parking.
      400 Ashville Ave, Cary, NC 27518
      View Details
    • $36 SF/Yr
      32,500 SF

      Tryon Office Center II: Medical Space

      Cary medical office building; 4,598 SF available.
      1110 Cary Pkwy, Cary, NC 27518
      View Details
    • $24 SF/Yr
      17,424 SF

      Cary Medical Office Building

      17,424 SF Medical Office, Fully Vacant
      222 Ashville Ave, Cary, NC 27518
      View Details
    • $34 SF/Yr
      62,464 SF

      Cary Medical Office Building

      Prime Cary location, 7,097 SF available
      300 Ashville Ave, Cary, NC 27518
      View Details
    • $8 SF/Yr
      6,039 SF

      Cary Office Space: Regus 2500 Regency Parkway

      Flexible Workspace Solutions in Cary, NC
      2500 Regency Pkwy, Cary, NC 27518
      View Details
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    1000 Cres Grn
    Cary, NC 27518-8116
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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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