Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,330,000
Office buildings
1903 High House Rd Cary, NC 27519-8463
Entity Owned
Free & Clear
Property ID
US53-1082403
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Construction
BRICK
Total area
8,827 SF
Lot
1.33 ac (57,935 SF)
Zoning code
GCCU
APN
0744.04-52-0740 0210721
UPID
US53-1082403
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
Current use
Occupant on record · Public records
-
Eric DeRosa Realty Real Estate Agency
-
Fonville Morisey - Long & Foster - Preston Office - Cary, NC Real Estate Agency
-
Fonville Morisey Preston Cary, NC - Realty Real Estate Agency
-
Kooistra Realty Real Estate Agency
-
Natalie MacDonald Real Estate Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.55M
Comparable Approach
Comparable
$2.43M
Blend (final)
Blend
$2.33M
Owner & transaction history
FMR PROPERTIES LLC
FMR PROPERTIES LLC
Zoning & alternative use
GCCU · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
4.4.2 Mixed Use Overlay
Top alternative use upside
Auto repair, garage
$3.7M
+87.8%
Medical building
$3.0M
+53.1%
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%
$2,760,000
6.5%
$2,550,000
7%
$2,365,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,985,000
Current use
AUTO REPAIR, GARAGE
$3,730,000
Change: +88% · Conversion: Difficult
MEDICAL BUILDING
$3,040,000
Change: +53% · Conversion: Easy
Blend value · Realmo final
$2.33M
Range $2.10M – $2.56M · ±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
$264 / 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
$23,301
Tax year 2023
Assessed value
$2,325,486
Assessed 2023
Previous assessed
$2,325,486
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,100,765
Assessed improvement
$1,224,721
Land market value
$1,100,765
Improvement market value
$1,224,721
Total market value
$2,325,486
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
Off-Market
Year built
1999
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
8,827 SF
Lot
1.33 ac (57,935 SF)
Zoning code
GCCU
APN
0744.04-52-0740 0210721
UPID
US53-1082403
Jurisdiction
WAKE
Zoning & alternative use
GCCU · Cary, NCZoning GCCU · permitted uses
GCCU · 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
$2.0M
AUTO REPAIR, GARAGE
Est. value
$3.7M
MEDICAL BUILDING
Est. value
$3.0M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1999
Construction
BRICK
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
1.33 ac
Current owner
From public records · entity-resolved
FMR PROPERTIES LLC
Entity
Free & Clear · 0 yrs held
Mailing address
PO BOX 17102, RALEIGH, NC 27619-7102
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1903 High House Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
