120 Dry Ave
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120 Dry Ave
3,882 SF 100% Leased Office Building Cary, NC 27511 $1,500,000 ($386/SF) 4.67% Cap Rate
Investment Highlights
- Walkable to Downtown Cary Park (1 Block), Available for Owner Occupancy, Current Month to Month Leases well below market.
Executive Summary
Prime Investment Opportunity 1 Block from the New Downtown Cary Park. Value-Add or Long-term Redevelopment or this historic location.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Sale Type
Investment
Sale Conditions
Property Type
Office
Property Subtype
Building Size
3,882 SF
Building Class
B
Year Built
1918
Price
$1,500,000
Price Per SF
$386
Cap Rate
4.67%
NOI
$70,005
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
1,294 SF
Slab To Slab
9’
Building FAR
0.25
Lot Size
0.36 AC
Zoning
TC - Commercial, Cottage Business District
Parking
14 Spaces (3.61 Spaces per 1,000 SF Leased)
Amenities
- Signage
1 of 1
Walk Score ®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 0764.18-40-3141-000 | Total Assessment | $1,150,766 |
| Land Assessment | $792,792 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $357,974 | Tax Year | 2024 Payable 2025 |
PROPERTY TAXES
Parcel Number
0764.18-40-3141-000
Land Assessment
$792,792
Improvements Assessment
$357,974
Total Assessment
$1,150,766
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2025
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120 Dry Ave
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