ERA | 1140 Kildaire Farm Rd
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ERA 1140 Kildaire Farm Rd
26,000 SF 100% Leased Office Building Cary, NC 27511 $6,874,729 CAD ($264 CAD/SF)
Investment Highlights
- 26,685 SF three-story office building
- Easy access to Downtown Cary and US 440, US 64 and US 1 Hwys
- Situated at the signalized corner of Kildaire Farm Road and Commonwealth Court
- Ample nearby amenities, including walkable destinations
Executive Summary
Lee & Associates Raleigh-Durham is pleased to present 1140 Kildaire Farm Road, a 26,685 SF three-story office building for sale in Cary, North Carolina. The property has 78 parking spaces and a drive-thru.
The building is situated at the signalized corner of Kildaire Farm Road and Commonwealth Court within an office park setting. Kildaire Farm Road sees an average of 20,500+ vehicles per day and provides easy access to Downtown Cary and US 440, US 64 and US 1 Hwys.
The building only has 2,535 SF vacant and is occupied with several small tenants on short term leases. The average lease rate is $22.30 SF/yr Full Service. This generates just under $500,000 revenue annually, and approximately $320,000 annual net operating income with estimated standard expenses.
The building is priced below replacement cost, creating a unique investment opportunity for a buyer seeking upside or an owner-occupant looking to establish a visible presence in the market.
The area has strong demographics and growth, making the location attractive for office users. There are also ample nearby amenities, including walkable destinations.
The building is situated at the signalized corner of Kildaire Farm Road and Commonwealth Court within an office park setting. Kildaire Farm Road sees an average of 20,500+ vehicles per day and provides easy access to Downtown Cary and US 440, US 64 and US 1 Hwys.
The building only has 2,535 SF vacant and is occupied with several small tenants on short term leases. The average lease rate is $22.30 SF/yr Full Service. This generates just under $500,000 revenue annually, and approximately $320,000 annual net operating income with estimated standard expenses.
The building is priced below replacement cost, creating a unique investment opportunity for a buyer seeking upside or an owner-occupant looking to establish a visible presence in the market.
The area has strong demographics and growth, making the location attractive for office users. There are also ample nearby amenities, including walkable destinations.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
26,000 SF
Building Class
B
Year Built
1985
Price
$6,874,729 CAD
Price Per SF
$264 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
8,666 SF
Slab To Slab
13’
Building FAR
0.49
Land Acres
1.22 AC
Opportunity Zone
Yes
Zoning
OI - OI (Office and Institutional)
Parking
78 Spaces (3 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Conferencing Facility
- Signage
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PROPERTY TAXES
| Parcel Number | 0763.14-44-3159-000 | Improvements Assessment | $4,546,415 CAD |
| Land Assessment | $882,424 CAD | Total Assessment | $5,428,840 CAD |
PROPERTY TAXES
Parcel Number
0763.14-44-3159-000
Land Assessment
$882,424 CAD
Improvements Assessment
$4,546,415 CAD
Total Assessment
$5,428,840 CAD
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Moss Withers -
Karah Jennings McConnell -
Lee & Associates
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ERA | 1140 Kildaire Farm Rd
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