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    Property profile & analytics

    2317 Cary Pkwy Cary, NC 27511-5093

    • Warehouses
    • 56,725 SF
    • 4.85 lot acres
    OFF-MARKET
    Value Estimations
    $9,600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-0971154
    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

    • Public Storage / Storage Facility

    Property Details for 2317 Cary Pkwy

    Year built
    1984
    Construction
    CONCRETE BLOCKS
    Lot size
    4.85 lot acres
    Property size
    56,725 SF
    Zone code
    I
    Property type
    Warehouses
    Property subtype
    Self storage facilities
    APN
    0753.17-21-3971 0129580
    APU
    753172139710129580

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,960,000
      6.5%
      $8,270,000
      7%
      $7,680,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $10,871,000
      Market price range: $3.04M - $10.9M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $12,885,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Cary
    County
    Wake
    State
    North Carolina
    Longitude
    -78.8233
    Latitude
    35.7609
    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
    2024
    $112,986
    $1,584,495
    $11,890,326
    $13,474,821
    -
    $1,584,495
    $11,890,326
    $13,474,821

    Comparable in this City

    • Value Estimation
      $10,200,000
      60,480 SF

      920 Chatham St

      MINI-WAREHOUSE, STORAGE • 60,480 SF
      920 Chatham St, Cary, NC 27511-3101
      View Details
    • Value Estimation
      $1,450,000
      5,790 SF

      125 Woodwinds Industrial Ct

      WAREHOUSE, STORAGE • 5,790 SF
      125 Woodwinds Industrial Ct, Cary, NC 27511-6240
      View Details
    • Value Estimation by Request
      4,141 SF

      120 Woodwinds Industrial Ct

      WAREHOUSE, STORAGE • 4,141 SF
      120 Woodwinds Industrial Ct, Cary, NC 27511-6218
      View Details
    • Value Estimation
      $1,700,000
      10,800 SF

      107 Woodwinds Industrial Ct

      WAREHOUSE, STORAGE • 10,800 SF
      107 Woodwinds Industrial Ct, Cary, NC 27511-6240
      View Details
    • Value Estimation
      $1,280,000
      7,250 SF

      110 Woodwinds Industrial Ct

      WAREHOUSE, STORAGE • 7,250 SF
      110 Woodwinds Industrial Ct, Cary, NC 27511-6217
      View Details
    • Value Estimation
      $1,210,000
      12,181 SF

      106 Woodwinds Industrial Ct

      WAREHOUSE, STORAGE • 12,181 SF
      106 Woodwinds Industrial Ct, Cary, NC 27511-6240
      View Details

    Similar Nearby for Sale

    • $1,375,000
      2.29 Acres

      Cary Parkway Land For Sale

      Land available along SW Cary Parkway suitable for various commercial uses.
      1016 Kilarney Ridge Loop, Cary, NC 27511
      View Details
    • $2,950,000
      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
    • $900,000

      Cary Land Parcel For Sale

      0.35 acre site near Kildaire Farm Road in Cary.
      120 Wrenn Dr, Cary, NC 27511
      View Details
    • Contact for pricing
      80 SF

      New Office and Retail Development

      New 80,548 SF office and retail development available for pre-leasing.
      155 W Chatham St | Cary, Cary, NC 27511
      View Details
    • $2,400,000
      1.91 Acres

      Searstone Commercial Land - Cary, NC

      1.91 acre pad-ready site, ideal for medical/office.
      0 Winston Hill Dr, Cary, NC 27511
      View Details
    • New
      $525,000
      0.52 Acres

      Prime Lot Near Downtown Cary

      Half-acre lot near downtown Cary to build your dream home.
      111 E Cornwall Rd, Cary, NC 27511
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Cary Flex Space For Lease

      12,000 SF flex space with ample parking available for lease.
      102 Woodwinds Industrial Ct, Cary, NC 27511
      View Details
    • $31 SF/Yr
      19,768 SF

      Cary Office Building - 19,768 SF

      Modern Cary office, single tenant, high-end finishes.
      106 Pinedale Springs Way, Cary, NC 27511
      View Details
    • Contact for pricing
      14,646 SF

      Two-Story Office Building in Cary

      Multi-tenant office building with convenient access to major roads.
      201 Commonwealth Ct, Cary, NC 27511
      View Details
    • $425 /Mo

      Cary Executive Office Suites

      Prime office spaces available in a convenient, central Cary location.
      201 W Chatham St, Cary, NC 27511
      View Details
    • $35 SF/Yr
      4,381 SF

      Cary Executive Office Suite

      Prime Cary location, 4,381 sq ft.
      746 Maynard Rd, Cary, NC 27511
      View Details
    • $21 SF/Yr
      14,646 SF

      Prime Cary Office Space Available

      2,377 SF Office Suite for Lease
      201 Commonwealth Ct, Cary, NC 27511
      View Details

    Property Visit Statistics

    • Visits by month
      2.0k
    • Visitors by month
      1.4k
    • Avg Time on site
      45 min
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    Cary, NC 27511-5093
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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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