Two-Building Multi-Tenant
For Sale
Contact for pricing
109 E Franklin St, Chapel Hill, NC 27514
Two occupied retail buildings totaling 13,507 SF on Franklin Street in Chapel Hill.
Property Size13,507 SF
Price / SF$370.18
Days on Market499
Property Features for 109 E Franklin St
General Information
Standard status
Active
Size
13,507 SF
Property subtype
RETAIL
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
CBRE | Raleigh
(919) 831-8268
Listed By:
Steve Shields
(704) 331-1284
Source:
Moodyscre
Added: Mar 19, 2025
Changed: Jul 29
Last Checked: Jul 29 at 10:47AM
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.
The offering includes two retail buildings comprising 13,507 square feet, currently occupied by a collection of local tenants that serve the surrounding community. The property is presented for sale as a multi-tenant retail investment.
The buildings are located at 109–117 East Franklin Street in Chapel Hill, North Carolina. The remarks describe Franklin Street as a central gathering place for the University of North Carolina and the town of Chapel Hill, supported by the area’s connection to UNC and the UNC Medical Center, which serves over 37,000 people per year.
This is a straightforward, occupied retail asset with two building addresses on a well-known Chapel Hill corridor.
The buildings are located at 109–117 East Franklin Street in Chapel Hill, North Carolina. The remarks describe Franklin Street as a central gathering place for the University of North Carolina and the town of Chapel Hill, supported by the area’s connection to UNC and the UNC Medical Center, which serves over 37,000 people per year.
This is a straightforward, occupied retail asset with two building addresses on a well-known Chapel Hill corridor.
Key Highlights
- Two occupied retail buildings on Franklin Street in Chapel Hill, totaling 13,507 SF
- Tenants serve the surrounding community, with local retail tenants in place
- Located in Chapel Hill along Franklin Street, described as UNC and town social center
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $243.1k | $18.00 |
| − Vacancy | −$18.2k | −$1.35 |
| EGI | $224.9k | $16.65 |
| − OpEx | −$67.5k | −$5.00 |
| NOI | $157.4k | $11.66 |
13,507 SF · lease $18.00/SF/yr · vacancy 7.50% · expense 30.00%
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
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,994
Businesses Nearby
66k
Monthly Visits Nearby
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
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Retail space - Two occupied retail buildings totaling 13,507 SF on Franklin Street in Chapel Hill.
Where is this retail space located?
The property is located at 109 E Franklin St 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: Two occupied retail buildings on Franklin Street in Chapel Hill, totaling 13,507 SF; Tenants serve the surrounding community, with local retail tenants in place; Located in Chapel Hill along Franklin Street, described as UNC and town social center
