Neighborhood Shopping
10970 Chapel Hill Road, Morrisville, NC 27560
For Sale
Contact for pricing
The fully occupied center serves restaurant, healthcare, personal care, and convenience businesses.
Property Size20,061 SF
Price / SF$412.49
Days on Market27
Property Features for 10970 Chapel Hill Road
General Information
Standard status
Size
Property subtype
Occupancy
Additional Details
Tenant in Place
Building Details
Tenancy
Listing Agency:
Rich Commercial Realty
Listed By:
Sam DiFranco Jr · License NC #270959
(919) 821-7880
Source:
Crexi
Added: Oct 14
Changed: Nov 8
Last Checked: Nov 8 at 4:32PM
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 Rich Commercial Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 20,061-square-foot shopping center in Morrisville is fully leased, with tenants spanning restaurant, healthcare, personal care, and convenience uses. Several businesses have operated at the property for more than a decade. Lease structures are net, include annual contractual escalations, and have limited rollover before 2030.
The center is on Chapel Hill Road amid the Perimeter Park office campus, Research Triangle Park, and Raleigh-Durham International Airport. The airport recorded 15.6 million passengers in 2025 and has planned expansion activity. Together, the property’s established tenant roster and documented lease terms provide a clear picture of its current retail occupancy.
The center is on Chapel Hill Road amid the Perimeter Park office campus, Research Triangle Park, and Raleigh-Durham International Airport. The airport recorded 15.6 million passengers in 2025 and has planned expansion activity. Together, the property’s established tenant roster and documented lease terms provide a clear picture of its current retail occupancy.
Key Highlights
- 20,061‑square‑foot neighborhood shopping center
- Fully leased to restaurant, healthcare, personal care, and convenience tenants
- Several tenants have operated at the property for more than a decade
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$355,949
Cap Rate
4.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,118,980
$7.1M
Cap Rate 7%
$5,084,986
$5.1M
Cap Rate 9%
$3,954,989
$4.0M
Market Conditions
NOI Build-Up for 20,061 SF
Gross rent
$541.6K $27.00/SF
− Vacancy
−$33.1K −$1.65/SF
EGI
$508.5K $25.35/SF
− OpEx
−$152.5K −$7.60/SF
NOI
$355.9K $17.74/SF
Area
Wake County, NC
Vacancy
6.12%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,118,980
Cap Rate 7%
$5,084,986
Cap Rate 9%
$3,954,989
Alternative Uses
Best Use
Retail
$5.08M
$4.45M – $5.93M
NOI $355,949 @ 7.0% cap · market cap 4.30%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
269
Businesses Nearby
21k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Hotels & Casinos 24%
Leisure 5%
Shops & Services 2%
Starbucks
Dining
14,406 visits/mo
0.1 miles
Hyatt House Raleigh Durham Airport
Hotels & Casinos
3,200 visits/mo
0.1 miles
TownePlace Suites by Marriott
Hotels & Casinos
1,773 visits/mo
0.1 miles
Noah's Event Venue
Leisure
954 visits/mo
0.5 miles
Public Storage
Shops & Services
355 visits/mo
0.4 miles
Demographics for 27560, NC
38,959
Population
17,764
Households
2.2
Avg Household Size
33
Median Age
73%
College-Educated
96%
High-School Grad
27.4 sq mi
ZIP Area
1,422
Density / Sq Mi
$117,340
Median Household Income
$70,040
Median Earnings
$1,760
Median Rent
$466,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- The MarketPlace At Perimeter Park — Chapel Hill Rd, Morrisville, NC 27560
Frequently Asked Questions
What type of property is this?
Shopping center - The fully occupied center serves restaurant, healthcare, personal care, and convenience businesses.
Where is this shopping center located?
The property is located at 10970 Chapel Hill Road Morrisville, NC.
What is the asking price?
The asking price for this property is $8,275,000.
What are key features of this property?
This property features: 20,061‑square‑foot neighborhood shopping center; Fully leased to restaurant, healthcare, personal care, and convenience tenants; Several tenants have operated at the property for more than a decade
