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

    119 Park St Cary, NC 27511-3315

    • Investment properties
    • 4,196 SF
    • 0.38 lot acres
    OFF-MARKET
    Value Estimations
    $645,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-5822487
    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

    • ChargePoint Charging Station / Electric Vehicle Charging Station
    • Home for Entertaining / Store
    • Southern Studio Interior Design, LLC / Interior Designer / Home Builder

    Property Details for 119 Park St

    Year built
    1951
    Construction
    BRICK
    Lot size
    0.38 lot acres
    Property size
    4,196 SF
    Zone code
    GCP
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    0764.18-40-3654 0031398
    APU
    764184036540031398

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $870,000
      6.5%
      $800,000
      7%
      $745,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $752,000
      Market price range: $510k - $1.43M

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

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.783
    Latitude
    35.7848
    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
    $8,105
    $294,643
    $514,227
    $808,870
    -
    $294,643
    $514,227
    $808,870

    Comparable in this City

    • Value Estimation by Request
      2,715 SF

      217 Un St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,715 SF
      217 Un St, Cary, NC 27511-3763
      View Details
    • Value Estimation by Request
      1,721 SF

      1221 Walnut St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,721 SF
      1221 Walnut St, Cary, NC 27511-4730
      View Details
    • Value Estimation by Request
      1,344 SF

      406 Faculty Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 1,344 SF
      406 Faculty Ave, Cary, NC 27511-3314
      View Details
    • Value Estimation
      $945,000
      1,716 SF

      903 Kildaire Farm Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,716 SF
      903 Kildaire Farm Rd, Cary, NC 27511-3942
      View Details
    • Value Estimation
      $1,165,000
      2,924 SF

      307 Academy St, Unit B

      OFFICE/RESIDENTIAL (MIXED USE) • 2,924 SF
      307 Academy St, Cary, NC 27511-3304
      View Details
    • Value Estimation by Request
      735 SF

      247 Chatham St

      OFFICE/RESIDENTIAL (MIXED USE) • 735 SF
      247 Chatham St, Cary, NC 27511-3243
      View Details

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      80 SF

      New Office and Retail Development

      New 80,548 SF office and retail development available for pre-leasing.
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    • $900,000

      Cary Land Parcel For Sale

      0.35 acre site near Kildaire Farm Road in Cary.
      120 Wrenn Dr, Cary, NC 27511
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    • $1,125,000
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      Cary Land: New Build Opportunity

      Homesite in coveted golf course community, convenient to amenities.
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    Similar Nearby for Lease

    • Contact for pricing

      Fenton Mixed-Use Destination Pad

      Pad ready for sublease in Cary's Fenton Gateway.
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    • $425 /Mo
      400 SF

      Olde Cary Executive Office Suites

      Prime office spaces in a convenient, central Cary location.
      201 W Chatham St, Cary, NC 27511
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    • Contact for pricing
      15,000 SF

      Retail Space with Patio

      Endcap retail space with patio, near major retailers and apartments.
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    • $21 SF/Yr
      15,512 SF

      Cary Medical Office Space Available

      Modern medical office suites in prime Cary location.
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    • Contact for pricing
      1 SF

      Two-Story Office Space Available

      1,015 SF office space for lease in Cary, NC.
      111 Adams St, Cary, NC 27511
      View Details
    • $23 SF/Yr
      25,012 SF

      Class A Office Space Available

      Class A office space for lease near MacGregor Village.
      114 Edinburgh South Dr, Cary, NC 27511
      View Details
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    119 Park St
    Cary, NC 27511-3315
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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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