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Property profile & analytics
OFF-MARKET
Estimated value
$6,855,000
Medical Office Space
3700 Cary Pkwy, Cary, NC 27513-8446
Individually Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-5344823
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1999
Construction
BRICK
Total area
17,440 SF
Lot
4.21 ac (183,388 SF)
Zoning code
OICU
APN
0754.14-34-6463 0255792
UPID
US53-5344823
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
-
Duke Orthopaedics of Cary Medical Clinic
-
Carolina Family Practice & Sports Medicine - Cary Pediatrician Physician
-
O. Josh Bloom, MD, MPH, CAQSM Pediatrician Physician
-
Catelyn S. King, PT Physician
-
Duane Hennion, MD, CSCS, FAAFP Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.32M
Blend (final)
Blend
$6.86M
Owner & transaction history
Town Of Cary · 8 yrs held
Town Of Cary
since 2018
Last sale
$7.0M
7 recorded transactions
Zoning & alternative use
OICU · Cary, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$10.3M
+71.6%
Neighborhood: shopping center
$9.6M
+59.9%
Restaurant
$9.1M
+51.2%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$6,010,000
Current use
COMMERCIAL (GENERAL)
$10,310,000
Change: +72% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$9,610,000
Change: +60% · Conversion: Difficult
RESTAURANT
$9,085,000
Change: +51% · Conversion: Difficult
RETAIL STORES
$8,060,000
Change: +34% · Conversion: Difficult
AUTO REPAIR, GARAGE
$7,370,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$6.86M
Range $6.17M – $7.54M · ±10% · vs last sale $7.00M (Aug 24 2020)
Last sale anchor
$7.00M
Aug 24 2020
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
$393 / 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
$60,777
Tax year 2023
Assessed value
$6,065,557
Assessed 2023
Previous assessed
$6,065,557
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,789,857
Assessed improvement
$4,275,700
Land market value
$1,789,857
Improvement market value
$4,275,700
Total market value
$6,065,557
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1999
Construction
BRICK
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
17,440 SF
Lot
4.21 ac (183,388 SF)
Zoning code
OICU
APN
0754.14-34-6463 0255792
UPID
US53-5344823
Jurisdiction
WAKE
Zoning & alternative use
OICU · Cary, NC
Zoning OICU · permitted uses
OICU · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cary. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$6.0M
COMMERCIAL (GENERAL)
Est. value
$10.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.6M
RESTAURANT
Est. value
$9.1M
RETAIL STORES
Est. value
$8.1M
AUTO REPAIR, GARAGE
Est. value
$7.4M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
RETAIL STORES
AUTO REPAIR, GARAGE
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
4.21 ac
Current owner
From public records · entity-resolved
Town Of Cary
Individual
Free & Clear · 8 yrs held
Mailing address
1235 EE BLVDE136, CHARLOTTE, NC 28203-5870
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2018
$36,500
Town Of Cary
Ck Of Charlotte LLC
Warranty Deed
—
Apr 28, 2017
$7,000,000
Ck Of Charlotte LLC
New Health LLC
Warranty Deed
$5,250,000 · South St Bk
Dec 10, 2008
$600,000
New Health LLC
Degabrielle,robert R & Laurie T
Warranty Deed
related
$3,444,000 · First Citizens Bank & Trust Co
Apr 14, 2003
$1,850,000
New Health LLC
—
Grant Deed
related
—
Apr 10, 2003
$1,850,000
New Health LLC
Cary Parkway Ass
Grant Deed
—
—
—
New Health LLC
—
Deed Of Trust
related
$721,000 · First Citizens Bank & Trust Co
—
—
New Health LLC
—
Loan Modification
related
$325,000 · First Citizens Bk
—
—
New Health LLC
—
Deed Of Trust
related
$800,000 · First Citizens Bank & Trust Co
—
—
New Health LLC
—
Deed Of Trust
related
$325,000 · First Citizens Bk
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.
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