Property profile

101 Cary Pkwy Cary, NC 27511

OFF-MARKET
Medical Office Space
Property ID
US53-1830623
52,112 SF 5.43 ac lot Built 1986
Entity Owned 3-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional Class A medical office building, part of the Cary Medical Pavilion, offers 50,443 square feet of renovated space. Built in 1986 and extensively renovated in 2020, the three-story building features multiple tenancy options, ranging from 1,051 square feet to a maximum contiguous space of 18,011 square feet. Currently, there are three available spaces, with first-floor options available. The building boasts convenient access to major thoroughfares, including a prominent intersection between Downtown Cary and US-1/64 and Tryon Road, resulting in high visibility and approximately 28,000 vehicles per day. Its strategic location near WakeMed Cary Hospital and established residential neighborhoods ensures a strong patient base. The property benefits from its proximity to abundant amenities, with the Shoppes of Kildaire and Saltbox Village shopping centers conveniently located across Kildaire Farm Rd. The building includes elevators and is zoned OI in Wake County. This is a rare opportunity to secure high-quality medical office space in a thriving Cary location. The minimum divisible space is 1,051 square feet.

Property profile

Verified
Property type Medical Office Space
Use group MEDICAL BUILDING
Year built 1986
Construction BRICK
Total area 52,112 SF
Lot 5.43 ac (236,531 SF)
Zoning code OIP
APN 0763.18-30-9547 0099051
UPID US53-1830623

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Dental Office
  • Dental Office
  • Pediatrician Medical Clinic
  • Physician
  • Pediatrician Medical Clinic

Location

101 Cary Pkwy Cary, NC 27511-5562
Cary metro Census 53509 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$8.45M
Comparable Approach Comparable
$12.40M
Blend (final) Blend
$10.29M

Owner & transaction history

since 2022
5 recorded transactions
2022
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

OIP · Cary, NC

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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