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    1000 Centre Green Way, Unit 200 Cary, NC 27513

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    1000 Centre Green Way, Unit 200 Cary, NC 27513

    View on Map
    • Office buildings
    • 100,920 SF
    • 11.47 lot acres
    For Lease
    $21,760,000
    View Listing →
    Versatile Workspace Solutions Available For Lease
    $21,760,000

    Versatile Workspace Solutions Available

    Flexible office spaces, coworking, meeting rooms, and virtual office options.

    1000 Centre Green Way Suite 200, Cary, NC 27513
    View Listing
    Property ID
    US53-1437727
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Vanilla Print Modern Posh Collection / (Bike/Boat/Book/etc) Store
    • Copier Lease of Raleigh / Big Box & Wholesale Store
    • CMIT Solutions of Cary-Apex / (Bike/Boat/Book/etc) Store / Corporate Office
    • RegSource Consulting / Consultant
    • Hanzo Archives Limited / (Bike/Boat/Book/etc) Store / Corporate Office

    Property Details for 1000 Centre Green Way

    Year built
    2007
    Lot size
    11.47 lot acres
    Property size
    100,920 SF
    Zone code
    GCP
    Property type
    Office buildings
    APN
    0755.02-96-9159 0286168
    APU
    755029691590286168

    Description

    This Class A, 17,909 sq ft office building in Wake County offers a variety of workspace solutions, from private executive suites to coworking spaces and virtual offices. Located on Weston Parkway in Cary, near Lake Crabtree and the Research Triangle, this three-story building features a stylish exterior and a two-story atrium reception. The property underwent renovations in 2019 and includes 350 suites, with spaces ranging from a minimum of 100 sq ft to a maximum contiguous space of 5,000 sq ft. Amenities include elevators and convenient access to I-40 and SR-54, as well as proximity to Raleigh-Durham International Airport (RDU). The building's location benefits from being near leading research institutes and high-tech businesses, within a community boasting a highly educated workforce. Various options cater to individual needs, including fully furnished and equipped private offices, open-plan coworking areas, meeting rooms, and virtual office packages with mail handling and virtual assistant services. Flexible working plans provide access to a global network of workspaces.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $31,555,000
      6.5%
      $29,130,000
      7%
      $27,050,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $23,061,000
      Market price range: $16.7M - $27.6M
      AI Estimate
      $13,086,000
      Market price range: $3.60M - $19.4M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $22,485,000
      Current use
      MEDICAL BUILDING
      $34,765,000
      Change: +55% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.7978
    Latitude
    35.8276
    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
    $188,578
    $2,784,338
    $16,035,779
    $18,820,117
    -
    $2,784,338
    $16,035,779
    $18,820,117

    Comparable in this City

    • Value Estimation
      $23,750,000
      108,225 SF

      2000 Ctr Grn Way

      OFFICE BUILDING • 108,225 SF
      2000 Ctr Grn Way, Cary, NC 27513-5756
      View Details
    • Value Estimation
      $1,030,000
      4,095 SF

      316 Academy St

      OFFICE BUILDING • 4,095 SF
      316 Academy St, Cary, NC 27513-4538
      View Details
    • Value Estimation
      $3,070,000
      15,384 SF

      140 Centrewest Ct

      OFFICE BUILDING • 15,384 SF
      140 Centrewest Ct, Cary, NC 27513-2015
      View Details
    • Value Estimation
      $9,515,000
      37,860 SF

      501 Sas Campus Dr

      OFFICE BUILDING • 37,860 SF
      501 Sas Campus Dr, Cary, NC 27513-2080
      View Details
    • Value Estimation by Request
      383,376 SF

      500 Sas Campus Dr

      OFFICE BUILDING (MULTI-STORY) • 383,376 SF
      500 Sas Campus Dr, Cary, NC 27513-2080
      View Details
    • Value Estimation
      $10,920,000
      76,268 SF

      301 Sas Campus Dr

      OFFICE BUILDING • 76,268 SF
      301 Sas Campus Dr, Cary, NC 27513
      View Details

    Similar Nearby for Sale

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      Office building in Cary's premiere office neighborhood with many amenities.
      6501 Weston Pkwy, Cary, NC 27513
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      11,969 SF

      Class A+ Office Building

      Two-story office building in Cary, North Carolina for sale.
      105 Weston Estates Way, Cary, NC 27513
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      Class A+ Office Building

      Two-story office building in Cary, North Carolina for sale.
      105 Weston Estates Way, Cary, NC 27513
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    • $455,000
      Pending

      Cary Commercial Property Opportunity

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

      Cary Office Suites Available

      Office suites available for sale in Cary, North Carolina.
      1003 High House Rd, Cary, NC 27513
      View Details
    • Contact for pricing

      Cary Office Space Near Amenities

      Located near Park West Village with abundant nearby amenities.
      1616 Evans Rd, Cary, NC 27513
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Cary Office Space Available

      Office space featuring private offices, reception, breakroom, and conference room.
      801 Cascade Pointe Ln, Cary, NC 27513
      View Details
    • $24 SF/Yr
      1,904 SF

      Cary Office Space Available

      Office space for lease in Cary with excellent visibility.
      111 James Jackson Ave, Cary, NC 27513
      View Details
    • Contact for pricing
      3,029 SF

      First Floor Office Sublease

      Office space sublease with private entrance in Cary, NC.
      8000 Weston Pkwy, Cary, NC 27513
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 1003 High House Rd.
      1003 High House Rd, Cary, NC 27513
      View Details
    • Contact for pricing

      Cary Office Space For Rent

      Office space available near Park West Village in Cary, NC.
      1616 Evans Rd, Cary, NC 27513
      View Details
    • Contact for pricing

      Versatile Workspace Solutions Available

      Flexible office spaces, coworking, meeting rooms, and virtual office options.
      1000 Centre Green Way, Cary, NC 27513
      View Details
    View Listing
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    Cary, NC 27513
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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.

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    1000 Centre Green Way, Cary, NC, 27513

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