For Sale
$2,060,000

100 Ridge View Dr Cary, NC 27511

High-yield Cary office, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a 5,294 square foot Class B office condo located at 100 Ridgeview Drive, Cary, NC 27511. Built in 2002, this traditional office space boasts a desirable 7.00% cap rate and a strong net operating income (NOI) of $144,137. The property features a convenient 4.0 parking spaces per 1,000 square feet ratio. Situated in a prime location near the intersection of Kildaire Farm Road and Cary Parkway, this corner unit benefits from ample natural light. Currently occupied by a single tenant under a lease extending to October 31, 2025, with two one-year renewal options and a 3.0% annual rent escalation clause, this provides immediate cash flow and long-term stability. This Core+ investment is an excellent addition to any portfolio seeking consistent returns and appreciation potential in the thriving Cary market. The property's strong financials, desirable location, and existing lease make it an attractive proposition for discerning investors. The building offers a traditional office layout well-suited for a variety of professional uses. This is a rare opportunity to acquire a well-maintained, high-performing office condo in a highly sought-after area of Wake County.

Highlights

  • $2,060,000 asking price for a 5,294 square foot office condo.
  • 7.00% cap rate with a $144,137 NOI.
  • Class B building constructed in 2002.
  • 4 parking spaces per 1,000 square feet.
  • Located at 100 Ridgeview Dr, Cary, NC 27511.

Property Details for 100 Ridge View Dr

Property type
Office properties
Square Feet
5,294 SF
Class
B
Year Built
2002

Location Insight

City
Cary
County
Wake
State
North Carolina
Latitude
35.7576114
Longitude
-78.7799336

FAQs

What type of property is this?
Office property - High-yield Cary office, strong NOI.
Where is the office property located?
The property is located at 100 Ridge View Dr Cary, NC.
What is the asking price?
The asking price for this property is $2,060,000.
What are key features of this property?
This property features: $2,060,000 asking price for a 5,294 square foot office condo.; 7.00% cap rate with a $144,137 NOI.; Class B building constructed in 2002.
How can I contact the broker?
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100 Ridge View Dr
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