1400 Gathering Park CirCary, NC 27519

Property Details for 1400 Gathering Park Cir

Year built

2024

Construction

BRICK

Lot size

0.54 AC

Property size (Sq ft)

8,040 SF

Zone code

GCP

Property type

Retail properties

Property subtype

Retail space

APN

0745.03-24-3130 0449368

APU

745032431300449368

Description

This exceptional 6,644 square foot Class A commercial property, located at 1400 Gathering Park Circle in the Carpenter Village submarket of Cary, NC, offers a unique opportunity for businesses seeking modern, versatile space. Built in 2024, this single-story building features three separate suites ranging from 724 to 2,904 contiguous square feet, allowing for flexibility to accommodate various needs. Currently, 2,904 square feet are vacant and ready for immediate occupancy. The property boasts a 12-foot ceiling height, ample parking with 19 spaces, and convenient access via Village View Ln. Zoned GC-Retail and Office, this location is ideal for retail, restaurant, or medical office uses. Cold shell delivery is expected by December 2024, allowing for customized build-outs. Interior build-out plans and permitting can commence concurrently with the construction timeline. Base rent and tenant improvement allowances are negotiable, depending on build-out requirements. The 0.54-acre lot is part of a new mixed-use development, offering excellent demographics within a rapidly growing Cary market in Wake County. The APN is 0745243130. Electric power is available.

• CAP approach

  CAP return

  Valuation

  6%

  $2,898,036

  6.5%

  $2,675,110

  7%

  $2,484,031

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,521,402

  Geo Method

  $4,650,664

• Alternative Use

  Use

  Valuation

  Residential

  $2,256,556

  Hospitality

  $2,066,993

  Educational

  $1,719,714

  Medical

  $1,778,857

  Retail

  $2,675,110

Location Insight

City

Cary

County

Wake

State

North Carolina

Latitude

35.8219

Longitude

-78.8572

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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