Are you searching for a Cary multi-family investment property, a commercially zoned income property, or a redevelopment opportunity in Wake County? 1208 Walnut Street delivers location, flexibility, and strong growth potential. A rare income-producing triplex in Cary, NC, offering commercial zoning and exceptional redevelopment potential on a 1.2-acre lot. Located in the heart of Cary, this multi-family property presents a prime opportunity for investors, developers, and entrepreneurs seeking strong rental demand and long-term appreciation in one of the Triangle's fastest-growing markets. The property's commercial zoning adds value and versatility, enabling potential mixed-use, office, or redevelopment opportunities (buyer to verify permitted uses). With 1.2 acres in a strategic Cary location, this property offers rare scalability and future upside. Conveniently located near Research Triangle Park, with quick access to I-40 and US-1/64, the property provides easy commuting to Raleigh, Durham, Holly Springs, and Apex. It is also just minutes from Fenton, a premier destination for shopping, dining, and entertainment. Also listed as commercial improved MLS# 10146800
Pending
$950,000
1208 Walnut St, Cary, NC 27511
5beds
3,657sqft
Triplex, Multi Family
Built in 1964
-- sqft lot
$880,500 Zestimate®
$260/sqft
$-- HOA
What's special
Rare income-producing triplex
- 190 days |
- 68 |
- 0 |
Zillow last checked:
Listing updated:
Listed by:
Brandi Taylor 919-606-4552,
Better Homes & Gardens Real Es,
Paul Gambella 919-614-5577,
Better Homes & Gardens Real Es
Source: Doorify MLS,MLS#: 10146867
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 5
- Full bathrooms: 5
Heating
- Electric
Cooling
- Central Air, Window Unit(s)
Features
- Flooring: Carpet, Laminate, Tile, Wood
Interior area
- Total structure area: 3,657
- Total interior livable area: 3,657 sqft
- Finished area above ground: 3,657
- Finished area below ground: 0
Property
Parking
- Total spaces: 1
- Parking features: Attached Carport
- Carport spaces: 1
Features
- Levels: Two
- Has view: Yes
Lot
- Size: 1.2 Acres
- Dimensions: 130 x 370 x 136 x 361
Details
- Parcel number: 077313140706000 0041900
- Zoning: OIP
- Special conditions: Seller Not Owner of Record
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex, Multi Family
Materials
- Brick
- Foundation: Slab
- Roof: Shingle
Condition
- New construction: No
- Year built: 1964
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
Community
- Subdivision: Not in a Subdivision
HOA
- Has HOA: No
Location
- Region: Cary
Financial & listing details
- Price per square foot: $260/sqft
- Tax assessed value: $566,908
- Annual tax amount: $4,918
- Date on market: 2/16/2026
Estimated market value
Zestimate®
$880,500
Estimated sales range
$836,000 - $925,000
Rent Zestimate®
$2,198/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/6/2026 | Pending sale | $950,000$260/sqft |
Source: | ||
| 2/16/2026 | Listed for sale | $950,000$260/sqft |
Source: | ||
| 8/23/2024 | Listing removed | -- |
Source: | ||
| 5/7/2024 | Listing removed | $950,000$260/sqft |
Source: | ||
| 9/22/2023 | Listed for sale | $950,000+115.9%$260/sqft |
Source: | ||
| 2/9/2007 | Sold | $440,000$120/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,919 +2.2% | $566,908 |
| 2024 | $4,814 +35% | $566,908 +62% |
| 2023 | $3,565 +3.8% | $349,836 |
| 2022 | $3,434 +2% | $349,836 |
| 2021 | $3,366 -0.5% | $349,836 |
| 2020 | $3,383 +8.5% | $349,836 +22.5% |
| 2019 | $3,117 | $285,540 |
| 2018 | $3,117 +10.7% | $285,540 |
| 2017 | $2,815 +1.5% | $285,540 |
| 2016 | $2,774 -10.6% | $285,540 -7.6% |
| 2015 | $3,104 +6% | $309,146 |
| 2014 | $2,929 | $309,146 |
| 2013 | -- | $309,146 |
| 2012 | -- | $309,146 |
| 2011 | -- | $309,146 |
| 2010 | -- | $309,146 |
| 2009 | -- | $309,146 |
| 2008 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 27511
Nearby schools
GreatSchools rating
- 7/10Briarcliff ElementaryGrades: PK-5Distance: 1.5 mi
- 8/10East Cary Middle SchoolGrades: 6-8Distance: 0.9 mi
- 7/10Cary HighGrades: 9-12Distance: 0.3 mi
Schools provided by the listing agent
- Elementary: Wake - Briarcliff Elementary
- Middle: Wake - East Cary Middle
- High: Wake - Cary High
Source: Doorify MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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