Two-Story Office Building with
For Sale
$2,900,000
300 Silver Cedar Court, Chapel Hill, NC 27514
Commercial Sale, Chapel Hill, NC
Property Size14,739 SF
Lot Size1.18 Acres
Price / SF$196.76
Days on Market982
Property Features for 300 Silver Cedar Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OI-2
Parking
52
Parking features
Parking Lot
Subdivision
Not In Subdivision
Lot features
Cul-De-Sac
Directions
I-40 TO MLK (AIRPORT RD.), TO WEAVER DAIRY,TO RIGHT ON KINGSTON, TO LEFT ON SILVERCEDAR CT. OFFICE ON RIGHT.
Standard status
Active
APN
9880552089
Size
14,739 SF
Lot size
1.18 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
#7 Timberlyne Office Park South P42/174
Tax Annual Amount
55134
Legal Description
#7 Timberlyne Office Park South P42/174
Utilities
Heating system
Electric (Heating), Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
loading dock
handicap ramp
breakroom
large production/printing room
kitchen
reception/lobby areas
conference spaces
Building Details
Year built
2000
Flooring type
Laminate, Carpet, Tile, Vinyl
Building materials
Brick, Wood Frame
Roof type
Composition
Listing Agency:
Just Be Home Realty
(919) 971-2850
Listed By:
Tracy F Wright · License #173232
(919) 726-9924
Added: Jan 6, 2024
Changed: Sep 12
Last Checked: Sep 14 at 12:06PM
MLS# 100420975
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2000, this 14,739-square-foot office building occupies 1.18 acres and is configured across two finished levels with an unfinished walk-up attic. The brick property includes an elevator, more than 20 offices on the main floor, nine additional offices upstairs, large multipurpose rooms, reception and lobby areas, restrooms on both levels, a breakroom, full kitchen, production and printing room, loading dock, handicap ramp, and three stairways. Interior finishes include laminate, tile, vinyl, and carpet, with central air and forced-air heating.
A level-grade parking lot provides 50 spaces, including two handicap spaces. The property also includes a fenced rear area, public water, and OI-2 zoning. Its Chapel Hill setting provides access to UNC and Duke universities and medical centers, the Research Triangle Park, and major interstates.
A level-grade parking lot provides 50 spaces, including two handicap spaces. The property also includes a fenced rear area, public water, and OI-2 zoning. Its Chapel Hill setting provides access to UNC and Duke universities and medical centers, the Research Triangle Park, and major interstates.
Key Highlights
- 14,739‑square‑foot office building on 1.18 acres
- Two‑story brick construction completed in 2000
- Elevator, loading dock, handicap ramp, and three stairways
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$227,629
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,552,580
$4.6M
Cap Rate 7%
$3,251,843
$3.3M
Cap Rate 9%
$2,529,211
$2.5M
Market Conditions
NOI Build-Up for 14,739 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$367.9K $24.96/SF
− Vacancy
−$64.4K −$4.37/SF
EGI
$303.5K $20.59/SF
− OpEx
−$75.9K −$5.15/SF
NOI
$227.6K $15.44/SF
Area
Orange County, NC
Vacancy
17.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,552,580
Cap Rate 7%
$3,251,843
Cap Rate 9%
$2,529,211
Alternative Uses
Best Use
Office B
$3.25M
$2.85M – $3.79M
NOI $227,629 @ 7.0% cap · market cap 7.85%
Second Best
Industrial
$2.78M
$2.43M – $3.25M
NOI $194,767 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$4.76M
$4.16M – $5.55M
NOI $333,157 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Explore this area
Business Placement
Demographics for 27514, NC
33,809
Population
11,470
Households
2.9
Avg Household Size
27
Median Age
80%
College-Educated
98%
High-School Grad
19.6 sq mi
ZIP Area
1,725
Density / Sq Mi
$94,167
Median Household Income
$25,145
Median Earnings
$1,491
Median Rent
$628,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Brick office property with flexible rooms, elevator access, parking, and production space.
Where is this office building located?
The property is located at 300 Silver Cedar Court Chapel Hill, NC.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 14,739‑square‑foot office building on 1.18 acres; Two‑story brick construction completed in 2000; Elevator, loading dock, handicap ramp, and three stairways
