Property profile

1031 Harrison Ave Cary, NC 27513

OFF-MARKET
Drive through restaurants
Property ID
US53-5597107
2,861 SF 0.99 ac lot Built 1996
Entity Owned 4-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional free-standing retail property, located at 1031 N Harrison Ave in Cary, NC, presents a unique investment opportunity. Boasting a total building area of 2,861 square feet, the property sits on a sizable 0.99-acre lot, offering ample space and potential for expansion or outdoor amenities. Currently vacant, this single-tenant building provides a blank canvas for a discerning business owner to customize the space to their exact specifications. Constructed in 1996, the building is situated in Wake County, within the vibrant Cary community, and benefits from excellent visibility and accessibility. The property's convenient location offers easy access to major transportation routes, ensuring high traffic flow and customer convenience. The 2,861 square feet of vacant space provides flexibility for a variety of retail uses, making it an ideal choice for businesses seeking a prominent presence in a thriving market. The expansive lot size also offers potential for future development or outdoor seating areas, further enhancing the property's appeal. This is a rare opportunity to acquire a well-located, sizable retail property in a highly desirable area of Cary, North Carolina. The property's size, location, and vacancy make it an attractive proposition for businesses seeking a strong foothold in a growing market. The zip code is 27513.

Property profile

Verified
Property type Drive through restaurants
Use group DRIVE-THRU RESTAURANT, FAST FOOD
Year built 1996
Construction BRICK
Total area 2,861 SF
Lot 0.99 ac (43,124 SF)
Zoning code GCCU
APN 0764.06-47-2824 0217322
UPID US53-5597107

Cap rate & NOI

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

Location

1031 Harrison Ave Cary, NC 27513-3924
Cary metro Census 53513 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.70M
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.77M
Blend (final) Blend
$2.54M

Owner & transaction history

since 2022
Last sale
$2.4M
3 recorded transactions
2022
$2.4M
2008
$2.0M
2007
$1.5M

Zoning & alternative use

GCCU · Cary, NC
Top alternative use upside
Commercial (general) $1.7M +13.5%
Neighborhood: shopping center $1.6M +5.8%

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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