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    Office Suite with Private Restroom Title is generated by Realmo AI

    101 Conner Drive, Chapel Hill, NC 27514

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    For Lease
    $2,000/Mo $24 SF/Yr (calc)

    COMMERCIAL - Chapel Hill, NC

    Type:Office
    Property size:
    1,000 SF
    Lot size:
    1.70 Acres
    Added:
    Apr 20, 2026
    Days on Market:
    49
    Last Refresh:
    Jun 7 at 11:06 pm

    Property Features for 101 Conner Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Interior features
    Entrance Foyer
    Standard status
    Active
    Size
    1,000 SF
    Lot size
    1.70 Acres

    Taxes and HOA fees

    Tax Description
    0000xxxx

    Utilities

    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1975
    Floors in Building
    4
    Flooring type
    Tile, Vinyl

    We can help!

    Listing Contact
    Jacques El-Chayeb

    Listing agent Jacques El-Chayeb

    Listing office Access Carolina Realty 3622 Shannon Rd., Suite 104, Wendell, NC

    Listing date Apr 20, 2026

    MLS# 10161425

    Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prominent professional office setup with main entry, good size waiting area, and a private restroom
    • Includes 4 private offices, with 3 offices fully windowed
    • Central air cooling and an entrance foyer
    • Public water service; flooring includes tile and vinyl
    • Year built: 1975

    Overview

    This furnished office suite is configured with a main entry that opens to a good size waiting area, followed by four private offices, three of which are fully windowed. The suite also includes a private restroom, making it straightforward for client-facing teams and professional use.

    Located in Chapel Hill within a prominent mixed-use professional building, the suite offers easy access to 15-501 and I-40. The public remarks also note a very short distance to UNC and Durham, with nearby walkable conveniences such as University Place, banks, shopping, restaurants, and the Post Office.

    For tenants who want a compact, professional layout, this space supports multiple individual offices while maintaining a dedicated reception-style waiting area. The lease terms noted in the remarks include all utilities, TICAM, and an HVAC contract, which can simplify budgeting for day-to-day operating costs for a small business or service-oriented office group.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kids On Up Psychotherapy, ... Psychotherapist Miller Arlene Nich ... Physician Dr. Jason R. ... Physician Avalon Medical Group Pediatrician Heather Fayhee, FNP Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chapel Hill
    County
    Orange
    State
    North Carolina
    Longitude
    -79.029095
    Latitude
    35.929239

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    FAQs

    What type of property is this?
    Office units - Well-proportioned suite with four private offices, a waiting area, and a private restroom with rent including utilities and HVAC.
    Where is this office units located?
    The property is located at 101 Conner Drive Chapel Hill, NC.
    What is the lease rate?
    The lease rate is $2,000 /Mo.
    What are key features of this property?
    This property features: Prominent professional office setup with main entry, good size waiting area, and a private restroom; Includes 4 private offices, with 3 offices fully windowed; Central air cooling and an entrance foyer
    (919) 270-2711
    We can help!
    Listing Contact
    Jacques El-Chayeb
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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