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Chatham Professional Park 594 E Chatham St 4,125 SF 100% Leased Office Building Cary, NC 27511 $950,000 ($230.30/SF) 7.04% Cap Rate
Investment Highlights
- Built in 2000; brick, single story, central HVAC
- NC Strength Gym through 1/2031 (3% bumps); Tully's Tattoo personally guaranteed (4% bumps)
- $81,888 in-place gross rent; both leases gross, $14,994 total owner expenses
- Downtown Cary trade area; 10 mi to Raleigh, 12 mi to RTP and RDU
Executive Summary
Own income-producing real estate near Cary, NC. This 100% leased, 4,125 SF
retail building comprised of 3 condos at 594 E Chatham St throws off $66,894
in NOI on day one, a 7.04% cap at the asking price. Fully leased Cary product
under $1M with two established local tenants rarely hits the market. Don't miss
your chance.
- Built in 2000; brick, single story, central HVAC
- $81,888 in-place gross rent; both leases gross, $14,994 total owner expenses
- NC Strength Gym through 1/2031 (3% bumps); Tully's Tattoo personally
guaranteed (4% bumps)
- Zoned GC (General Commercial); Wake County REID 0285323
- Downtown Cary trade area; 10 mi to Raleigh, 12 mi to RTP and RDU
retail building comprised of 3 condos at 594 E Chatham St throws off $66,894
in NOI on day one, a 7.04% cap at the asking price. Fully leased Cary product
under $1M with two established local tenants rarely hits the market. Don't miss
your chance.
- Built in 2000; brick, single story, central HVAC
- $81,888 in-place gross rent; both leases gross, $14,994 total owner expenses
- NC Strength Gym through 1/2031 (3% bumps); Tully's Tattoo personally
guaranteed (4% bumps)
- Zoned GC (General Commercial); Wake County REID 0285323
- Downtown Cary trade area; 10 mi to Raleigh, 12 mi to RTP and RDU
Data Room Click Here to Access
Property Facts
Sale Type
Investment
Property Type
Building Size
4,125 SF
Building Class
C
Year Built
2001
Price
$950,000
Price Per SF
$230.30
Cap Rate
7.04%
NOI
$66,894
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
4,125 SF
Building FAR
0.04
Lot Size
2.17 AC
Zoning
GC - Zoned GC (General Commercial); Wake County REID 0285323
Parking
18 Spaces (4.36 Spaces per 1,000 SF Leased)
Amenities
- Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- NC Strength Gym
- -
-
99,999 SF
- -
- -
- -
- Tully's Tattoo
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| NC Strength Gym | - | 99,999 SF | - | - | - | |
| Tully's Tattoo | Retailer | 99,999 SF | - | Lorem Ipsum | - |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
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