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

    1151 Cary Pkwy Cary, NC 27518-7418

    • Office buildings
    • 17,236 SF
    • 2.71 lot acres
    OFF-MARKET
    Value Estimations
    $3,860,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5430964
    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

    • Edward Jones - Financial Advisor: Cole McGlothlin, AAMS® / Financial Advisor
    • Engineered Designs Inc / Engineering Consultant
    • Edward Jones - Financial Advisor: Jonathan R Bandy, AAMS™ / Financial Advisor
    • The Federal Savings Bank / Loan Service / Bank
    • Miluska Tezekjian / The Federal Savings Bank / Loan Service / Bank

    Property Details for 1151 Cary Pkwy

    Year built
    2001
    Construction
    BRICK
    Lot size
    2.71 lot acres
    Property size
    17,236 SF
    Zone code
    OIP
    Property type
    Office buildings
    APN
    0772.03-14-0734 0193832
    APU
    772031407340193832

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,390,000
      6.5%
      $4,975,000
      7%
      $4,620,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,715,000
      Market price range: $3.72M - $5.49M
      AI Estimate
      $2,885,000
      Market price range: $1.38M - $5.30M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,600,000
      Current use
      MEDICAL BUILDING
      $5,940,000
      Change: +29% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.7604
    Latitude
    35.7411
    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
    $27,252
    $659,458
    $2,060,288
    $2,719,746
    -
    $659,458
    $2,060,288
    $2,719,746

    Comparable in this City

    • Value Estimation by Request
      279,454 SF

      11000 Regency Pkwylh

      OFFICE BUILDING • 279,454 SF
      11000 Regency Pkwylh, Cary, NC 27518-8518
      View Details
    • Value Estimation by Request
      478 SF

      511 Keisler Dr Ste, Unit 104

      OFFICE BUILDING • 478 SF
      511 Keisler Dr Ste, Cary, NC 27518-7096
      View Details
    • Value Estimation by Request
      485 SF

      523 Keisler Dr Ste, Unit 104

      OFFICE BUILDING • 485 SF
      523 Keisler Dr Ste, Cary, NC 27518-7099
      View Details
    • Value Estimation by Request
      478 SF

      519 Keisler Dr

      OFFICE BUILDING • 478 SF
      519 Keisler Dr, Cary, NC 27518-7098
      View Details
    • Value Estimation by Request
      478 SF

      543 Keisler Dr Ste, Unit 204

      OFFICE BUILDING • 478 SF
      543 Keisler Dr Ste, Cary, NC 27518-9321
      View Details
    • Value Estimation
      $47,560,000
      159,354 SF

      175 Regency Woods Pl

      OFFICE BUILDING (MULTI-STORY) • 159,354 SF
      175 Regency Woods Pl, Cary, NC 27518-6001
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      47.41 Acres

      Cary Mixed-Use Development Land

      47 Acres, Prime Cary Location
      8200 Regency Pkwy, Cary, NC 27518
      View Details
    • 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
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    • $981,000
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      Cary Office Condo For Sale

      2,616 SF office condo in Parkway Professional Park, Cary.
      135 Parkway Office Ct, Cary, NC 27518
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    • $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
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    • $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
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    • $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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    Similar Nearby for Lease

    • $27 SF/Yr
      45,834 SF

      Cary Office Building For Lease

      Two-story, 94,304 SF building with convenient access and amenities.
      1100 Crescent Grn, Cary, NC 27518
      View Details
    • $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
    • Contact for pricing
      10,820 SF

      Mixed-Use Lifestyle Center in Cary

      207,000 SF mixed-use center with shopping and greenspace.
      575 New Waverly Pl, Cary, NC 27518
      View Details
    • $22 SF/Yr
      12,000 SF

      Cary Medical Office Space for Lease

      1,836 SF Medical Office Suite Available
      301 Keisler Dr, 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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    1151 Cary Pkwy
    Cary, NC 27518-7418
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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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