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400 Ashville Ave, Cary, NC 27518
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Property summary
AI-generated overview
Triangle Medical Center, located at 400 Ashville Ave in Cary, NC 27518, offers a unique opportunity to lease medical office space in a thriving Wake County location. This three-story building, constructed in 1995, totals 30,492 square feet and features three individual suites. Currently, 6,367 square feet of space is available for lease, with individual suites ranging from a minimum of 1,421 square feet to a maximum contiguous space of 3,351 square feet. The building boasts ample parking, including both covered and surface options, providing convenient access for patients and staff. Its strategic location within Cary's medical district places it less than half a mile from WakeMed Cary Hospital and within a five-minute drive of the Waverly Place Shopping Center. This prime location offers exceptional convenience for both patients and employees, with numerous nearby dining and retail establishments. The building presents a fantastic opportunity for medical practices seeking a well-established and easily accessible location in a vibrant community. Interested parties should inquire about lease terms and availability for the available suites.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1995
Construction
METAL FRAME
Total area
28,437 SF
Lot
2.05 ac (89,298 SF)
Zoning code
GCCU
APN
0762.14-33-2469 0195507
UPID
US53-0817466
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Ophthalmologist
-
Physician
-
Medical Clinic
-
Physician
-
Pediatrician Medical Clinic
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.94M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.46M
Blend (final)
Blend
$11.94M
Owner & transaction history
since 2021
Last sale
$10.0M
6 recorded transactions
Zoning & alternative use
GCCU · Cary, NC
Top alternative use upside
Commercial (general)
$16.8M
+71.6%
Neighborhood: shopping center
$15.7M
+59.9%
Restaurant
$14.8M
+51.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
6 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$11.94M
Value range
$10.74M – $13.13M
±10% around blend
Estimated value / SF
$420 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$10.74M
blend $11.94M
$13.13M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
28,437 SF
Lot area
2.05 ac
Year built
1995
Stories
2
APN
0762.14-33-2469 0195507
Zoning
GCCU
Assessed value
$6,145,960
Annual tax
$61,583
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$9.46M
Range $7.80M – $11.93M
Evidence
6 found
Recent peer sales in this city
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$11.94M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 37 sales
$345
+22%
County 169 sales
$325
+29%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $420/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+72%
vs current-use indication
Neighborhood: Shopping Center
Restaurant
Retail Stores
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
2.50%
Implied, in-place cap rate for this medical office space
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
NOI (est.)
$700k *
Last sale · Oct 2021
$10.00M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$28.00M
Move the market yield to see immediate price impact.
Value / SF
$985
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.00%2.50%3.00%
$630k
$31.50M
$25.20M
$21.00M
$700k
$35.00M
$28.00M
$23.33M
$770k
$38.50M
$30.80M
$25.67M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$61,583
Tax year 2023
Assessed value
$6,145,960
Assessed 2023
Previous assessed
$6,145,960
+0.0% YoY
Effective rate
1.00%
On assessed value
Assessed land
$1,607,364
Assessed improvement
$4,538,596
Land market value
$1,607,364
Improvement market value
$4,538,596
Total market value
$6,145,960
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1995
Construction
METAL FRAME
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
28,437 SF
Lot
2.05 ac (89,298 SF)
Zoning code
GCCU
APN
0762.14-33-2469 0195507
UPID
US53-0817466
Jurisdiction
WAKE
Zoning & alternative use
GCCU · Cary, NCZoning GCCU · permitted uses
GCCU · Cary, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Construction
METAL FRAME
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
2.05 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
GCCU
Jurisdiction
Cary, NC
Recorded code
GCCU
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for GCCU in Cary, NC.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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