Property profile

1805 Walnut St Cary, NC 27518

FOR LEASE
Turn key restaurants
Property ID
US53-3864779
9,195 SF 2.36 ac lot Built 1992
Entity Owned Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional 9,195 square foot free-standing retail building is ideally situated in Cary, North Carolina, at 1805 Walnut Street, zip code 27518. The property boasts a highly visible corner location at the intersection of Walnut Street and the US 1/Highway 64 exit/on-ramp, ensuring significant traffic exposure and easy accessibility for customers. Previously occupied by a Red Lobster restaurant, this single-tenant building presents a unique opportunity for a variety of retail businesses seeking a prominent location in a thriving area. The building's substantial size offers ample space for a wide range of retail concepts, providing flexibility for potential tenants. Its strategic location just outside of Raleigh provides access to a large and diverse customer base. The property's prominent corner location and convenient access from a major highway make it an attractive option for businesses seeking high visibility and easy accessibility. This is a rare opportunity to acquire a well-positioned retail property in a high-demand market. The building's previous use as a restaurant suggests potential for a similar concept or a business requiring significant space and high visibility. Detailed site plans and building specifications are available upon request. This property is ready for immediate occupancy and presents a compelling investment opportunity.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Year built 1992
Construction CONCRETE BLOCKS
Total area 9,195 SF
Lot 2.36 ac (102,802 SF)
Zoning code GC
APN 0773.19-62-1083 0187364
UPID US53-3864779

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

1805 Walnut St Cary, NC 27518
Cary metro Census 53003 RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$495k
CAP Approach CAP
by Request
Comparable Approach Comparable
$808k
Blend (final) Blend
$650k

Owner & transaction history

Zoning & alternative use

GC · Cary, NC
Zoning description

(J) GC: General Commercial District (K) CT: Walnut Street Corridor Transitional District (L) ORD: Office/Research and Development District (M) I: Industrial District (N) TC: Town Center District 4.3 CONDITIONAL USE DISTR…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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