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    Property profile & analytics

    140 Preston Executive Dr Cary, NC 27513-8488

    • Office buildings
    • 15,580 SF
    • 1.36 lot acres
    OFF-MARKET
    Value Estimations
    $3,210,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1723354
    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

    • Dr. Meenal Patel / Dental Office
    • Pathway Mortgage Group, Inc. / Loan Service / Bank
    • Andrew Mocete / Marriage Or Relationship Counselor
    • Peak Body Therapy / Alternative Medicine Practice / Spa & Massage Center
    • Get Grounded Counseling, PLLC / Marriage Or Relationship Counselor / Counselor

    Property Details for 140 Preston Executive Dr

    Year built
    1998
    Construction
    BRICK
    Lot size
    1.36 lot acres
    Property size
    15,580 SF
    Zone code
    OIP
    Property type
    Office buildings
    APN
    0754.13-02-8906 0230573
    APU
    754130289060230573

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,870,000
      6.5%
      $4,495,000
      7%
      $4,175,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,279,000
      Market price range: $2.57M - $4.25M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,470,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8286
    Latitude
    35.7911
    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
    $13,409
    $578,202
    $2,098,262
    $2,676,464
    -
    $578,202
    $2,098,262
    $2,676,464

    Comparable in this City

    • Value Estimation by Request
      222,040 SF

      201 Metlife Way

      OFFICE BUILDING (MULTI-STORY) • 222,040 SF
      201 Metlife Way, Cary, NC 27513-2291
      View Details
    • Value Estimation
      $36,345,000
      166,132 SF

      2000 Evans Rd

      OFFICE BUILDING • 166,132 SF
      2000 Evans Rd, Cary, NC 27513-2008
      View Details
    • Value Estimation
      $21,760,000
      100,920 SF

      1000 Ctr Grn Way

      OFFICE BUILDING • 100,920 SF
      1000 Ctr Grn Way, Cary, NC 27513-2283
      View Details
    • Value Estimation
      $7,600,000
      53,880 SF

      203 Sas Campus Dr

      OFFICE BUILDING • 53,880 SF
      203 Sas Campus Dr, Cary, NC 27513
      View Details
    • Value Estimation
      $17,420,000
      125,370 SF

      300 Sas Campus Dr

      OFFICE BUILDING (MULTI-STORY) • 125,370 SF
      300 Sas Campus Dr, Cary, NC 27513
      View Details
    • Value Estimation
      $5,375,000
      21,392 SF

      3001 Sheldon Dr

      OFFICE BUILDING • 21,392 SF
      3001 Sheldon Dr, Cary, NC 27513-2006
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      Office building in Cary's premiere office neighborhood with many amenities.
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      Class A+ Office Building

      Two-story office building in Cary, North Carolina for sale.
      105 Weston Estates Way, Cary, NC 27513
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    • $3,750,000

      Freestanding Building in Preston Corners

      8,834 SF building with drive-thru in prime location.
      1005 High House Rd, Cary, NC 27513
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    • Contact for pricing

      Cary Retail/Office/Medical Opportunity

      Freestanding building with drive-thru, convenient location, and high visibility.
      950 N Harrison Ave, Cary, NC 27513
      View Details
    • $455,000
      984 SF

      Cary Commercial Property Opportunity

      Remodeled commercial property near downtown Cary Park.
      8704 Chapel Hill Rd, Cary, NC 27513
      View Details
    • Contact for pricing

      Cary Office Space Near Amenities

      Located near Park West Village with abundant nearby amenities.
      1616 Evans Rd, Cary, NC 27513
      View Details

    Similar Nearby for Lease

    • $30 SF/Yr
      75,840 SF

      Office Space in Weston Corridor

      Ideally located office space in Cary's Weston Corridor.
      1001 Winstead Dr, Cary, NC 27513
      View Details
    • $22 SF/Yr
      34,662 SF

      Cary Office Space: Centre Green

      Modern Cary office suites, flexible layouts.
      5000 Centre Green Way, Cary, NC 27513
      View Details
    • $550 /Mo

      Professional Office Space in Cary

      Affordable office space in a desirable Cary location.
      140 Preston Executive Dr, Cary, NC 27513
      View Details
    • $4,090 /Mo
      2,045 SF

      Move-in Ready Medical Suite

      Turnkey medical suite in Cary's Preston medical corridor.
      3731 NW Cary Pkwy, Cary, NC 27513
      View Details
    • $24 SF/Yr
      14,000 SF

      Cary Executive Office Space

      Prime Cary location, 2,000 sq ft available
      1616 Evans Rd, Cary, NC 27513
      View Details
    • $13 SF/Yr
      5,921 SF

      280 Towerview Ct

      Office Units
      280 Towerview Ct, Cary, NC 27513
      View Details
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    140 Preston Executive Dr
    Cary, NC 27513-8488
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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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