Chapel Hill Office Building For
For Sale
$2,900,000
300 Silver Cedar Court, Chapel Hill, NC 27514
Class B office building with flexible space in Chapel Hill.
Property Size14,739 SF
Lot Size1.18 Acres
Price / SF$196.76
Days on Market846
Property Features for 300 Silver Cedar Court
General Information
Standard status
Active
Size
14,739 SF
Lot size
1.18 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$55,134
Building Details
Year Built
2000
Listing Agency:
Just Be Home Realty
(919) 971-2850
Listed By:
Tracy F Wright · License #173232
(919) 971-2850
Source:
Exitrealty
Added: Apr 22, 2024
Changed: Aug 8
Last Checked: Aug 8 at 5:07AM
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 Just Be Home Realty
Investment Insights
Based on property information with market context.
This Class B office building, located in Chapel Hill, North Carolina, offers 14,739 square feet of space and includes an elevator. The two-story, all-brick building is in very good condition. The main level features over 20 office spaces, men's and ladies' bathrooms, a breakroom, a large production/printing room, a loading dock, a handicap ramp, and three sets of stairs to the second level. The second level offers nine individual offices, three large rooms suitable for individual offices or training/conference spaces, men's and ladies' bathrooms, a full kitchen, and reception and lobby areas. A third floor provides an unfinished walk-up attic suitable for storage. The property includes a 50-space, level-grade parking lot with two handicap spaces and a fence along the rear. Located on the north side of Chapel Hill, in the fastest-growing area in Orange County, the building provides a tremendous amount of flex space and is suitable for many uses. Its location offers proximity to UNC & Duke Universities and Medical Centers, the Research Triangle Park, and major interstates.
Key Highlights
- Prime Location: Close to UNC & Duke Universities, Medical Centers, Research Triangle Park, and major interstates.
- Turn‑Key Class B Office Building: 14,739 sq ft in very good condition, ready for immediate occupancy or lease.
- Flexible Space: Suitable for many uses with over 20 offices on the main level and additional large rooms upstairs.
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
Property Profile
Current Use
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
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 - Class B office building with flexible space in Chapel Hill.
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: Prime Location: Close to UNC & Duke Universities, Medical Centers, Research Triangle Park, and major interstates.; Turn‑Key Class B Office Building: 14,739 sq ft in very good condition, ready for immediate occupancy or lease.; Flexible Space: Suitable for many uses with over 20 offices on the main level and additional large rooms upstairs.
