- For Sale $3,900,000
- Property Type Industrial - Flex - Industrial
- Property Size 11,717 SF
- Lot Size 1.6 Acre
- Year Built 1973
- Date Updated May 11, 2026
- HVAC None
Description
The property is located along Chapel Hill Road just northeast of Downtown Cary, and benefits from strong frontage and an active growth corridor. Downtown Cary has seen robust public and private investment in recent years, including downtown streetscape improvements, the award-winning Downtown Cary Park, and new mixed-use projects, continuing to drive demand and value in the immediate area.Rare opportunity to acquire four contiguous parcels totaling approximately 1.60 acres in downtown Cary, with in-place income. Zoned TC (Town Center), the site offers exceptional flexibility for mixed-use, multifamily, retail, or commercial development. Existing improvements provide stable cash flow. With premium frontage along Chapel Hill Road and Field Street, this assemblage is ideally positioned for a signature urban infill project.
Highlights
- $243,616 NOI
- ±1.60 acres across four contiguous parcels
- ±11,700 SF commercial + residential income streams
- 6.25% cap rate
- Covered land play with income offsetting hold costs
- Frontage on Chapel Hill Road near Downtown Cary
- Wake County GIS Parcels: 0764637147, 0764639118, 0764730258, 0764730294
- Zoning and future land use allow for mixed-use redevelopment
False
Contacts
Alyssa Stepusin Byrd
Lee & Associates Raleigh Durham Wilmington
Location
Located at 8245 Chapel Hill Rd, Cary, NC 27513, this property is part of the Northwoods neighborhood and Raleigh Durham market.
Contact Listing Broker
Alyssa Stepusin Byrd
Lee & Associates Raleigh Durham Wilmington
