| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 68th | Good |
| Demographics | 76th | Best |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Collier Pl, Cary, NC, 27513, US |
| Region / Metro | Cary |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 1998-07-31 |
| Transaction Price | $7,518,500 |
| Buyer | BNP REALTY LLC |
| Seller | AFFILIATED EQUITIES REAL ESTATE LTD PRTN |
100 Collier Pl Cary NC Multifamily Investment
Positioned in Cary, an inner-suburb of Raleigh-Cary with solid neighborhood fundamentals, the property’s demand profile is supported by strong nearby employment and high home values, according to WDSuite’s CRE market data.
Cary’s inner-suburban setting offers daily convenience and a steady renter base. Neighborhood retail access is a relative strength, with grocery and pharmacy density landing in the higher tiers metro-wide and nationally, while café options are also comparatively abundant. Park and formal childcare access are more limited locally, which can influence lifestyle positioning toward convenience and commute-oriented renters.
School quality in the neighborhood is in the top quartile nationally and ranks competitively among 331 Raleigh-Cary neighborhoods (school rating rank 21 of 331), a factor that can support family renter retention. Neighborhood demographics score well versus peers (high national percentiles), indicating a skilled tenant base and household stability consistent with Cary’s profile.
Neighborhood occupancy is below metro norms and has trended softer in recent years, so underwriting should assume average lease-up and renewal friction versus prime in-metro submarkets; this reflects the neighborhood trend, not the property. At the same time, about half of local housing units are renter-occupied, signaling a meaningful tenant pool for small and mid-size multifamily assets.
Within a 3-mile radius, households have grown while average household size edged lower, expanding the renter pool and supporting occupancy stability. Projections indicate continued household growth over the next five years, and rising incomes alongside a high-cost ownership market (value-to-income metrics in the upper national tier) favor sustained multifamily demand. These dynamics are consistent with findings from WDSuite’s multifamily property research.
Safety indicators for the neighborhood are mixed but generally steady relative to peers. Overall crime sits around the national middle, and the area is competitive among 331 Raleigh-Cary neighborhoods (crime rank 70 of 331). Recent trends point to improving conditions, with estimated declines in both property and violent offenses on a year-over-year basis. These figures reflect neighborhood-level patterns, not block-specific conditions, and should be paired with asset-level controls and management practices.
Proximity to large-scale employers in insurance, manufacturing services, and life sciences underpins a stable commuter renter base and supports lease retention for workforce and professional tenants. The employers below are within a short drive, reinforcing everyday commute convenience.
- MetLife, insurance & financial services (1.6 miles)
- John Deere Morrisville Training Center, manufacturing services (3.0 miles)
- Amerisource Bergen, pharma distribution (3.5 miles)
- Biogen Idec, biotechnology (5.7 miles)
- Quintiles Transnational Holdings, clinical research (5.7 miles) — HQ
100 Collier Pl offers investors exposure to Cary’s employer-driven renter base with favorable neighborhood amenities and school strength. The asset’s 1985 vintage is slightly older than the neighborhood average, suggesting potential value-add through targeted renovations and systems upgrades, while elevated ownership costs in the area help sustain multifamily demand.
Within a 3-mile radius, households are expanding and incomes are rising, supporting a larger tenant base and potential retention. While neighborhood occupancy has been softer relative to metro leaders, diversified nearby employment and a renter-occupied share near half provide depth for leasing. These conclusions are grounded in WDSuite’s commercial real estate analysis.
- Employer adjacency (insurance, life sciences, tech) supports steady demand and leasing durability
- 1985 vintage offers value-add and modernization upside versus newer competitive stock
- High home values and rising incomes reinforce renter reliance on multifamily housing
- Household growth within 3 miles expands the tenant pool and supports occupancy stability
- Risk: neighborhood occupancy is below metro leaders; underwriting should reflect conservative lease-up and renewal assumptions