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    Property profile & analytics

    1601 Lk Pne Dr Cary, NC 27511-5251

    • Grocery and convenience stores
    • 2,400 SF
    • 0.56 lot acres
    OFF-MARKET
    Value Estimations
    $675,000
    Show details
    Cap Rate Potential
    4.5%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US53-1204919
    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

    • 76 / Gas Station
    • Bliss / Grocery & Convenience Store
    • Amazon Locker - Shishaldin / Postal Service / Courier Service
    • Bitstop Bitcoin ATM / Crypto Atm / Atm
    • ATM / Atm

    Property Details for 1601 Lk Pne Dr

    Year built
    1980
    Construction
    FRAME
    Lot size
    0.56 lot acres
    Property size
    2,400 SF
    Zone code
    GC
    Property type
    Grocery and convenience stores
    APN
    0752.07-69-9674 0107601
    APU
    752076996740107601

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $671,000
      Market price range: $215k - $672k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,110,000
      Current use
      AUTO REPAIR, GARAGE
      $1,015,000
      Change: -9% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.808
    Latitude
    35.7547
    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
    $8,025
    $334,198
    $466,718
    $800,916
    -
    $334,198
    $466,718
    $800,916

    Comparable in this City

    • Value Estimation
      $595,000
      2,072 SF

      103 Maynard Rd

      GROCERY, SUPERMARKET • 2,072 SF
      103 Maynard Rd, Cary, NC 27511-4401
      View Details
    • Value Estimation
      $510,000
      1,736 SF

      421 Chatham St

      GROCERY, SUPERMARKET • 1,736 SF
      421 Chatham St, Cary, NC 27511-3461
      View Details
    • Value Estimation by Request
      688 SF

      1611 Walnut St

      GROCERY, SUPERMARKET • 688 SF
      1611 Walnut St, Cary, NC 27511-5928
      View Details
    • Value Estimation by Request
      1,080 SF

      880 Chatham St

      GROCERY, SUPERMARKET • 1,080 SF
      880 Chatham St, Cary, NC 27511-6917
      View Details
    • Value Estimation
      $1,320,000
      4,928 SF

      101 Kenmure Ct

      GROCERY, SUPERMARKET • 4,928 SF
      101 Kenmure Ct, Cary, NC 27511
      View Details
    • Value Estimation
      $910,000
      3,300 SF

      102 Gregson Dr

      GROCERY, SUPERMARKET • 3,300 SF
      102 Gregson Dr, Cary, NC 27511-6442
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      New Office and Retail Development

      New 80,548 SF office and retail development available for pre-leasing.
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    • Contact for pricing

      Downtown Cary Mixed-Use Development

      New office and retail spaces in downtown Cary.
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      New Retail Strip Center ForSale

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      7,328 SF

      Cary Retail Building - Investment Opportunity

      Prime Cary location, 7,328 sq ft, two-story retail building.
      105 Baines Ct, Cary, NC 27511
      View Details
    • Contact for pricing
      40,000 SF

      Retail Space Available

      40,000 SqFt retail space for sale.
      760 SE Maynard Rd, Cary, NC 27511
      View Details
    • Contact for pricing

      Retail Space in Downtown Cary

      Retail space in a mixed-use development in downtown Cary.
      352 South Walker St, Cary, NC 27511
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      767 SF

      Retail Space Available For Rent

      Retail property with 767 square feet available for rent.
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      View Details
    • Contact for pricing
      3,977 SF

      Downtown Cary Retail Space

      Mixed-use development with retail space in growing Downtown Cary.
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    • Contact for pricing
      4,987 SF

      Downtown Cary Retail Space

      Retail space available in Downtown Cary with parking.
      139 East Chatham St, Cary, NC 27511
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    • Contact for pricing

      Retail Space with Patio

      Endcap retail space with patio, near major retailers and apartments.
      1005 Portrait Dr, Cary, NC 27511
      View Details
    • Contact for pricing

      Mixed-Use Destination in Cary

      Vertically integrated mixed-use destination for rent in Cary.
      1085 Fenton Gtwy Dr, Cary, NC 27511
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    • Contact for pricing

      Cary Retail/Office Space Available

      Retail and office spaces available for lease in Cary.
      114 Edinburgh Dr S, Cary, NC 27511
      View Details
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    Cary, NC 27511-5251
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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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