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Property profile & analytics
FOR LEASE
Office buildings
159 East Chatham St Cary, NC 27511
Entity Owned
2-yr Hold
Free & Clear
Property ID
US53-0146296
For Lease
1 / 2
$6,145,000
159 East Chatham St, Cary, NC 27511
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2022
Construction
BRICK
Total area
40,166 SF
Lot
0.25 ac (10,890 SF)
Zoning code
GCP
APN
0764.19-51-5667 0110716
UPID
US53-0146296
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.99M
Blend (final)
Blend
$6.15M
Owner & transaction history
Northwoods Rogers Building LLC · 2 yrs held
Northwoods Rogers Building LLC
since 2024
4 recorded transactions
Zoning & alternative use
GCP · Cary, NC
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cary submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cary submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,455,000
Current use
Blend value · Realmo final
$6.15M
Range $5.53M – $6.76M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$153 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$47,722
Tax year 2023
Assessed value
$4,762,689
Assessed 2023
Previous assessed
$4,762,689
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$108,900
Assessed improvement
$4,653,789
Land market value
$108,900
Improvement market value
$4,653,789
Total market value
$4,762,689
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2022
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
40,166 SF
Lot
0.25 ac (10,890 SF)
Zoning code
GCP
APN
0764.19-51-5667 0110716
UPID
US53-0146296
Jurisdiction
WAKE
Zoning & alternative use
GCP · Cary, NCZoning GCP · permitted uses
GCP · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
4.4.2 Mixed Use Overlay
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$8.5M
OFFICE BUILDING Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2022
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
0.25 ac
Current owner
From public records · entity-resolved
Northwoods Rogers Building LLC
Entity
Free & Clear · 2 yrs held
Mailing address
PO BOX 8005, CARY, NC 27512-8005
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 3, 2024
—
Northwoods Rogers Building LLC
Town Of Cary
Quit Claim Deed
—
Oct 15, 2019
$500,000
Northwoods Rogers Building LLC
Shaw Realty LLC
Grant Deed
—
Feb 19, 2009
$150,000
Shaw Rlty LLC
Owner,record
Grant Deed
related
—
Dec 30, 2004
$150,000
Shaw Realty LLC
Phelps,alan C
Warranty Deed
$140,000 · Fidelity Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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