607 Cedar StCary, NC 27511

  • Specialty properties
  • 3,040 SF
For Sale

Property Details for 607 Cedar St

Year built
1955
Construction
FRAME
Lot size
27.25 AC
Property size (Sq ft)
3,040 SF
Zone code
RMFP
Property type
Specialty properties
Property subtype
Other specialty properties
APN
0764.20-92-3119 0224524
APU
764209231190224524

Description

This exceptional 27.25-acre mixed-use land parcel presents a unique redevelopment opportunity in the heart of Cary, North Carolina. Located at the highly visible corner of East Chatham Street and Southeast Maynard Road in Downtown Cary, this property boasts a Town Center zoning designation, allowing for high-density development. The site's strategic location offers easy access to major transportation arteries, including I-40 and I-440, providing seamless connectivity to key employment hubs such as the Weston Parkway area (9 minutes away), Downtown Raleigh (15 minutes), and the Research Triangle Park (RTP) (14 minutes). The property's proximity to Fenton, a thriving mixed-use center, further enhances its desirability. Existing zoning permits high-density residential development with the potential for up to 50 units per acre, making this an ideal site for a master-planned community. The property's multiple access points and high visibility contribute to its exceptional marketability. This presents a compelling investment opportunity in a rapidly growing and affluent submarket, offering both short-term cash flow potential and long-term value appreciation. The favorable existing lease structures provide flexibility for redevelopment plans. APN: 764923119.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $853,225
    Hospitality
    $781,549
    Educational
    $650,240
    Medical
    $672,603
    Retail
    $1,011,484
607 Cedar St, Cary, North Carolina

Location Insight

City
Cary
County
Wake
State
North Carolina
Latitude
35.7891
Longitude
-78.7663
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
2023
$6,224
$6,008,625
$122,041
$6,130,666
-
$6,008,625
$122,041
$6,130,666

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