1605 Maynard Rd Cary, NC 27513-8701
Exceptional investment opportunity: a 19,227 square foot, state-of-the-art pet daycare facility in Cary, NC. This property boasts a strong 7.00% cap rate and a substantial net operating income (NOI) of $265,931. The property is situated on a 3.25-acre lot at 1605 NW Maynard Rd, 27513, in a dense retail corridor with national tenants, ensuring high visibility and accessibility. The current lease, with Destination Pet, a leading pet care provider, is an absolute NNN lease with a remaining term of 12 years, extending to November 30, 2036, and includes 10% rent bumps every five years. Built in 2002 and renovated in 2020, the facility is in excellent condition. The location benefits from high-density and growth demographics, and is conveniently located within approximately one mile of Prestonwood Country Club, a PGA Tour host. This recession-resistant property offers a secure, long-term investment with significant upside potential. Lease options include three 5-year extensions. The asking price is $3,800,000, translating to a price per square foot of $197.64. The property experiences over 152,000 vehicles per day.
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Gutters Cary NC Hardware & Home Improvement General Contractor
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Ruff Housing Cary Pet Grooming Service
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Chapman Corp Hardware & Home Improvement Home Appliance Store
I-CU: Industrial district. (C) Town Center Subdistricts (1) TC-HMXD-CU: High Intensity Mixed Use subdistrict; (2) TC-MXD-CU: Mixed Use subdistrict; (3) TC-HDR Mid-Rise-CU: High Density Residential Mid-Rise subdistrict; (4) TC-MXDR-CU: Mixed Density Residential subdistrict; (5) TC-HDR Garden-CU: High Density Residential Garden subdistrict; (6) TC-MDR-CU: Medi…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
I · Cary, NCI-CU: Industrial district. (C) Town Center Subdistricts (1) TC-HMXD-CU: High Intensity Mixed Use subdistrict; (2) TC-MXD-CU: Mixed Use subdistrict; (3) TC-HDR Mid-Rise-CU: High Density Residential Mid-Rise subdistrict; (4) TC-MXDR-CU: Mixed Density Residential subdistrict; (5) TC-HDR Garden-CU: High Density Residential Garden subdistrict; (6) TC-MDR-CU: Medium Density Residential subdistrict; (7) TC-LDR-CU: Low Density Residential subdistrict; (8) TC-OFC/INS-CU: Office/Institutional subdistrict; (9) TC-OFC/IND-CU: Office/Industrial subdistrict; (10) TC-COM-CU: Commercial subdistrict; (11) TC-CLI-CU: Commercial Low Intensity subdistrict; (12) TC-CB&R-CU: Cottage Business and Residential subdistrict; and (13) TC-INS-CU: Institutional subdistrict. (D) Walnut Street Corridor Subdistricts (1) CT-REDEV-CU: Walnut Street Corridor Redevelopment Area subdistrict; (2) CT-CONV-CU: Walnut Street Corridor Conversion Area subdistrict; and (3) CT-INFILL-CU: Walnut Street Infull Area subdistrict. Share Download Bookmark Print 4.3.3 Designation of Conditional Use Districts Conditional use districts shall be designated only in accordance with the procedures and requirements set forth in Section 3.4.2 of this Ordinance, and may not contain conditions which are less restrictive than this Ordinance or other applicable state and/or federal laws. Share Download Bookmark Print 4.3.4 Allowable Uses No use shall be permitted within a conditional use district except pursuant to the conditions imposed on the conditional use district as part of the zoning approval. The permitted uses must be ones that this Ordinance allows in the corresponding general use district. Share Download Bookmark Print 4.3.5 Applicable Regulations (A) All standards and requirements that apply to the corresponding general use district shall apply to the conditional use district. (B) Conditions imposed on a conditional use district may be no less restrictive than those standards applying to the corresponding general use district. (C) Existing conditional use limitations in a conditional use district shall become null and void if future amendments to this Ordinance require stricter standards than those imposed under existing conditional use zoning. Share Download Bookmark Print 4.3.6 Conditional Zoning Districts (A) In addition to "Conditional Use" zoning designations, the Official Zoning Map also contains parcels with "Conditional" zoning.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
