Chapel Hill Retail Investment
For Sale
$5,000,000
109 East Franklin Street, Chapel Hill, NC 27514
Two buildings totaling 13,507 SF in Chapel Hill, NC.
Property Size13,507 SF
Price / SF$370.18
Days on Market195
Property Features for 109 East Franklin Street
General Information
Standard status
Active
Size
13,507 SF
Property subtype
Retail
Listing Agency:
CBRE | Raleigh
Listed By:
Matt Larson
(919) 831-8268
Source:
Cbre
Added: Mar 25
Changed: Oct 2
Last Checked: Oct 4 at 9:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CBRE | Raleigh
Investment Insights
Based on property information with market context.
Located in Chapel Hill, North Carolina, 109-117 East Franklin Street offers an investment opportunity along a well-known street. The property consists of two buildings with a total area of 13,507 square feet. The buildings are occupied by local tenants that serve the surrounding community. Franklin Street is considered a central location for social activity for the University of North Carolina and the town of Chapel Hill. Chapel Hill is home to the University of North Carolina at Chapel Hill, which has over 30,000 students, and the UNC Medical Center, which serves over 37,000 people annually.
Key Highlights
- Located on iconic Franklin Street, the center of social life for the University of North Carolina and Chapel Hill.
- Investment opportunity in Chapel Hill, North Carolina.
- Comprised of two buildings totaling 13,507 square feet.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$157,424
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,148,480
$3.1M
Cap Rate 7%
$2,248,914
$2.2M
Cap Rate 9%
$1,749,156
$1.7M
Market Conditions
NOI Build-Up for 13,507 SF
Gross rent
$243.1K $18.00/SF
− Vacancy
−$18.2K −$1.35/SF
EGI
$224.9K $16.65/SF
− OpEx
−$67.5K −$5.00/SF
NOI
$157.4K $11.66/SF
Area
Orange County, NC
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,148,480
Cap Rate 7%
$2,248,914
Cap Rate 9%
$1,749,156
Alternative Uses
Best Use
Retail
$2.25M
$1.97M – $2.62M
NOI $157,424 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.36M
$3.82M – $5.09M
NOI $305,309 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,994
Businesses Nearby
66k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 82%
Shops & Services 18%
McDonald's
Dining
19,905 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
15,208 visits/mo
0.3 miles
Panera Bread
Dining
12,942 visits/mo
0.2 miles
State Employees Credit Union
Shops & Services
3,904 visits/mo
0.5 miles
Cold Stone Creamery
Dining
3,290 visits/mo
0.1 miles
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 Retail in South region
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Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Storefront property - Two buildings totaling 13,507 SF in Chapel Hill, NC.
Where is this storefront property located?
The property is located at 109 East Franklin Street Chapel Hill, NC.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Located on iconic Franklin Street, the center of social life for the University of North Carolina and Chapel Hill.; Investment opportunity in Chapel Hill, North Carolina.; Comprised of two buildings totaling 13,507 square feet.
