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

    1040 Darrington Dr Cary, NC 27513-8135

    • Retail space
    • 10,754 SF
    • 1.61 lot acres
    OFF-MARKET
    Last Sale
    Apr 18, 2024
    $2,965,000
    Value Estimations
    $2,965,000
    Show details
    Cap Rate Potential
    2.3%
    Retail space
    Location Intelligence
    Property ID
    US53-1492265
    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

    • Sylvan Learning of Cary & Morrisville / Training Center
    • NC Golf Headquarters / Golf Course
    • NCGolfHQ.com / Golf Course / (Bike/Boat/Book/etc) Store
    • Snap Kick Martial Arts - Cary, NC / Training Center / Sports School
    • Peak Weight Loss / Weight Loss Service

    Property Details for 1040 Darrington Dr

    Year built
    2001
    Construction
    BRICK
    Lot size
    1.61 lot acres
    Property size
    10,754 SF
    Zone code
    GCCU
    Property type
    Retail space
    APN
    0754.01-46-7151 0269662
    APU
    754014671510269662

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,965,000
      ML approach
      $2,965,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,464,000
      Market price range: $2.96M - $6.54M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $4,545,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8152
    Latitude
    35.7999
    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
    $18,424
    $1,563,944
    $274,734
    $1,838,678
    -
    $1,563,944
    $274,734
    $1,838,678

    Comparable in this City

    • Value Estimation
      $4,750,000
      13,096 SF

      301 Harrison Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,096 SF
      301 Harrison Ave, Cary, NC 27513-4557
      View Details
    • Value Estimation by Request
      800 SF

      801 High House Rd

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      801 High House Rd, Cary, NC 27513
      View Details
    • Value Estimation
      $535,000
      3,720 SF

      2002 Grisdale Ln

      RETAIL STORES (PERSONAL SERVICES) • 3,720 SF
      2002 Grisdale Ln, Cary, NC 27513-8112
      View Details
    • Value Estimation by Request
      2,000 SF

      4244 Cary Pkwyw

      RETAIL STORES (PERSONAL SERVICES) • 2,000 SF
      4244 Cary Pkwyw, Cary, NC 27513-8477
      View Details
    • Value Estimation
      $920,000
      9,590 SF

      1231 Maynard Rd

      RETAIL STORES (PERSONAL SERVICES) • 9,590 SF
      1231 Maynard Rd, Cary, NC 27513-4175
      View Details
    • Value Estimation by Request
      3,510 SF

      1525 Old Apex Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,510 SF
      1525 Old Apex Rd, Cary, NC 27513-5357
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      264,320 SF

      Retail Space on Chatham Street

      1,711 SF retail space for lease on Chatham Street.
      1000 Ballena Cir, Cary, NC 27513
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    • $2,863,500
      2,500 SF

      New Starbucks with Drive-Thru

      New 2,500 SF Starbucks in Cary, NC with drive-thru.
      1070 Darrington Dr, Cary, NC 27513
      View Details
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      Cary Flex Space Opportunity

      Flex space opportunity in downtown Cary's hottest area.
      400 Field St, Cary, NC 27513
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    • $1,999,900
      2.85 Acres

      Cary Land Development Opportunity

      2.85 acres in Cary, NC, with development potential.
      Trinity Rd, Cary, NC 27513
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      1,200 SF

      Updated Townhome Overlooking Peaceful Pond

      Updated townhome near Downtown Cary with pond view and new interiors.
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    • $1,700,000

      7.6 Acres Near RTP, RDU

      7.6 acres of land near RTP, RDU Airport, and SAS.
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    Similar Nearby for Lease

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      4,333 SF

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      Second generation restaurant spaces available in Cary, North Carolina.
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    • Contact for pricing
      794 SF

      Restaurant Spaces For Lease

      Second generation restaurant spaces available in Cary, North Carolina.
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      Restaurant Spaces in Cary, NC

      Second generation restaurant spaces available in Cary, North Carolina.
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      View Details
    • Contact for pricing
      77,803 SF

      Northwoods Shopping Center: Cary, NC

      Retail Space Available in Thriving Cary
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      View Details
    • Contact for pricing
      14,900 SF

      Maynard Square Retail Center

      Cary, NC: 10 Retail Spaces Available
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      View Details
    • Contact for pricing

      Retail Space in Cary Center

      Grocery-anchored retail space available at a busy Cary intersection.
      Maynard Rd & Harrison Ave, Cary, NC 27513
      View Details
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    Cary, NC 27513-8135
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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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