120 Dry Ave Cary, NC 27511-3352
Entity Owned
5-yr Hold
~
Est. High Equity
Estimated value (blended)
$1.28M
Range $1.15M – $1.40M (±10%)
Implied cap rate
3.40%
In-place · NOI ÷ last sale
Property ID
US53-0024018
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1918
Construction
BRICK
Total area
3,493 SF
Lot
0.35 ac (15,246 SF)
Zoning code
GCP
APN
0764.18-40-3141 0029787
UPID
US53-0024018
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
-
Business Service Center Corporate Office
-
Alternative Medicine Practice
-
Marriage Or Relationship Counselor Counselor
-
Advertising Agency Marketing & Advertising
-
Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.26M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$1.28M
Owner & transaction history
since 2020
Last sale
$1.3M
7 recorded transactions
Zoning & alternative use
GCP · Cary, NC
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 8 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.28M
Value range
$1.15M – $1.40M
±10% around blend
Estimated value / SF
$365 / SF
Confidence
High
8 county-verified comps
Property data
88
Market benchmarks
67
Comparable evidence
80
$1.15M
blend $1.28M
$1.40M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,493 SF
Lot area
0.35 ac
Year built
1918
Stories
2
APN
0764.18-40-3141 0029787
Assessed value
$1,150,766
Annual tax
$9,649
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$1.03M
Weighted, 8 comps · high confidence
Evidence
8 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
15.3 mi away · 2,730 SF
15.4 mi away · 3,910 SF
15.7 mi away · 4,002 SF
16.0 mi away · 3,614 SF
18.0 mi away · 2,982 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.28M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 21 sales
$591
-38%
County 153 sales
$333
+10%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $365/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 8 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
3.40%
Implied, in-place cap rate for this investment properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.40%
9.0%
NOI (est.)
$93k *
Last sale · Jul 2024
$1.34M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$2.75M
Move the market yield to see immediate price impact.
Value / SF
$787
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.90%3.40%3.90%
$84k
$2.90M
$2.47M
$2.16M
$93k
$3.22M
$2.75M
$2.40M
$103k
$3.54M
$3.02M
$2.64M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
8 found
High confidence · county-verified
Closest comparable
$1.33M
7.9 mi · Oct 2025 · $294/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$9,649
Tax year 2024
Assessed value
$1,150,766
Assessed 2024
Previous assessed
$636,123
+80.9% YoY
Effective rate
0.84%
On assessed value
Assessed land
$792,792
Assessed improvement
$357,974
Land market value
$792,792
Improvement market value
$357,974
Total market value
$1,150,766
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1918
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Rooms
12
Bathrooms
4
Total area
3,493 SF
Lot
0.35 ac (15,246 SF)
Zoning code
GCP
APN
0764.18-40-3141 0029787
UPID
US53-0024018
Jurisdiction
WAKE
Zoning & alternative use
GCP · Cary, NCZoning GCP · permitted uses
GCP · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1918
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
2
Rooms
12
Bathrooms
4
Lot
0.35 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
GCP
Jurisdiction
Cary, NC
Recorded code
GCP
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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