1020 Southhill Drive, Cary, NC

Property Type Office - General Office
Property Size 25,492 SF
Lot Size 2.37 Acre
Parking Spaces Avail. 100
Parking Ratio 3.96/ 1,000 SF
Property Tenancy Multi-Tenant
Building Class B
Year Built 2000

Location

Map
Street

City Cary, NC
Neighborhood Wessex
Zip Code 27513
Market Raleigh Durham

Contacts

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Owner

True Owner
Registered Owner

Brokers

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Documents

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Sales

Purchase Date 18 May, 2006
Purchase Price
Arm's Length True
Buyer Name

Market Trends

Average Actual Rents in Cary

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent

Net Rent

$44.3/SF/YR

Recoverables Show detailsHide details

$16.7/SF/YR

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Occupancy & Leasing Activity

Occupancy

83.5%

Lease Spread

-20.5%

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Asking Rents in Cary Office Market

Office rental rates are based on aggregated data of asking rates.

2020 Avg. Asking Rent $27.31
2020 Office Vacancy Rate 12.10%
2020 Office Completions (SF) 258,628

Cary Office Sales Trends

All sale prices are based on publicly recorded, verified sales.

2020 Avg. Price per SF $178.77
Y-o-Y Avg. PpSF Change -2.04%
2020 Office Sales Volume $26.1M
2020 Number of Transactions 4

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Tax

Property Tax in 2021 $47,638
Market Value* $5,041,132
Assessed Value $5,041,132

Find more tax info, including assessment history and abatements, on CommercialEdge

*The displayed market value represents the assessed value determined by the appropriate local tax/financial authority. It is not the property’s latest sale price or a current market value based on recent area sales.

Frequently Asked Questions

What is the total square footage of 1020 Southhill Drive?

1020 Southhill Drive totals 25,492 square feet.

When was this property built?

1020 Southhill Drive was built in 2000.

When was 1020 Southhill Drive last sold?

1020 Southhill Drive was last sold on 18 May, 2006.

What is the property tax for 1020 Southhill Drive?

The property tax for 1020 Southhill Drive in 2021 was $47,638.

What is the market value for 1020 Southhill Drive?

The market value* for 1020 Southhill Drive in 2021 was $5,041,132.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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1020 Southhill Drive, Cary, NC 27513 - Office Space

1020 Southhill Drive is located at 1020 Southhill Drive in the Wessex neighborhood, NC, Cary, 27513. The Class B Office building was completed in 2000 and features a total of 25,492 SF.

There are 8 office spaces for lease in the Wessex neighborhood, totaling 23,837 SF of available office space. The office space availability for the 27513 zip code is 375,391 SF, in 50 office spaces. The average asking office rent per SF in Wessex is $25.73/SF/YR. For Class B office buildings the average office rate is $25.73/SF/YR.

In Wessex, there are 7 class B office buildings. In 2000, the same year 1020 Southhill Drive was built, 57 more commercial properties (office, industrial, retail) over 50,000 square feet were built in Cary, featuring 496,695 square feet of commercial space. At zip code level, there are 52 commercial properties, of which 39 are office buildings over 50,000 square feet.

1020 Southhill Drive