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Property profile & analytics
OFF-MARKET Estimated value $2,605,000
Banks

2205 Evans Rd Cary, NC 27513-7405

3,254 SF 1.38 ac lot Built 1999
Entity Owned 3-yr Hold Free & Clear
Property ID
US53-1917563
Property summary
AI-generated overview

This exceptional commercial land offering in Cary, North Carolina presents a unique development opportunity. Encompassing approximately 1.38 to 3.39 acres, the property boasts a highly visible location at the intersection of Evans Road (18,000 vehicles per day) and Weston Parkway (17,500 vehicles per day) in the Weston Major Planned Development District (PDD). Zoned Office and Institutional (O&I) with a Commercial District Overlay (CDO), this site allows for a wide range of commercial uses, including retail stores, restaurants, and offices. The land features rough-graded pads with existing municipal water, sewer, and stormwater infrastructure in place, simplifying the development process. The area demonstrates strong demographics, with an average household income exceeding $143,000 within a one-mile radius, and a robust employer base including Metlife, Biologics, Inc., Pennymac, and Intel Corporation, situated in nearby Lakeview and Centre Green Business Parks. The site's proximity to major roadways—three minutes from Highway 54, five minutes from I-40, and ten minutes from I-540—further enhances its appeal. The lack of established retail within a one-mile radius presents a significant opportunity to serve the substantial residential and employment population. The property's APN numbers are 0755760051, 0755752748, 0755751632, and 0755764026. The site is ideally positioned to capitalize on the growth and development within the Research Triangle Park area.

Property profile
Verified
Property type Banks
Use group FINANCIAL BUILDING
Year built 1999
Construction CONCRETE BLOCKS
Total area 3,254 SF
Lot 1.38 ac (60,113 SF)
Zoning code GCP
APN 0755.02-75-2748 0255776
UPID US53-1917563
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
  • ATM (First Citizens Bank) Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$2.66M
CAP Approach CAP
by Request
Comparable Approach Comparable
$3.51M
Blend (final) Blend
$2.61M
Owner & transaction history
Highwoods Services INC · 3 yrs held
Highwoods Services INC
since 2023
Last sale
$2.6M
2 recorded transactions
2023
Price N/A
2023
$2.6M
Zoning & alternative use
GCP · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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