100 Ridge View DrCary, NC 27511

Property Details for 100 Ridge View Dr

Year built

2002

Construction

BRICK

Lot size

0.01 AC

Property size (Sq ft)

4,879 SF

Zone code

OIP

Property type

Office buildings

APN

0763.19-50-3643 0303307

APU

763195036430303307

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,196,358

  6.5%

  $1,104,331

  7%

  $1,025,450

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,088,798

  Geo Method

  $1,119,926

• Alternative Use

  Use

  Valuation

  Residential

  $1,369,370

  Hospitality

  $1,254,336

  Educational

  $1,043,592

  Medical

  $1,079,483

  Retail

  $1,623,366

Location Insight

City

Cary

County

Wake

State

North Carolina

Latitude

35.7573

Longitude

-78.7797

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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