Two-Building Office Portfolio with Monument
For Sale
Contact for pricing
1512 E Franklin Street, Chapel Hill, NC 27514
Two professionally managed office buildings near UNC with monument signage and ample parking, presented for sale as a Franklin Park land condo.
Property Size50,390 SF
Lot Size4.67 Acres
Days on Market63
Property Features for 1512 E Franklin Street
General Information
Standard status
Active
Size
50,390 SF
Total Parking Spaces
171
Lot size
4.67 Acres
Property subtype
Office
Occupancy
41%
Site & Location
Traffic Count
23,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1996
Buildings
2
Tenancy
Multi
Listing Agency:
Avison Young - Raleigh Durham
Listed By:
Blake Thomas · License #283614
Source:
Crexi
Added: Jun 19
Changed: Aug 11
Last Checked: Aug 20 at 7:49AM
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 Avison Young - Raleigh Durham
Investment Insights
Based on property information with market context.
This for-sale portfolio includes two office buildings at 1512 and 1516 Franklin Street within Franklin Park. Constructed between 1996 and 1997, the buildings total 50,390 square feet and sit on 4.67 acres of maintained land. The offering is currently 41.2% leased. Ownership is also tied to the Franklin Park Association, a detached land condominium structure, and an incoming owner would control over 85% of the association, supporting greater control over future decisions. Monument signage on Franklin Street provides prominent building identification, and the property includes a parking ratio of 3.4 spaces per 1,000 SF, including 20 covered, reserved spaces.
The site is positioned about two miles from UNC-Chapel Hill, with access to downtown Chapel Hill and nearby retail and healthcare options including Village Plaza and University Place. The in-town infill location also provides quick access to I-40 for routes to Durham, RTP, RDU Airport, and other destinations across the Triangle and Triad.
For tenants and operators, the property offers a well-managed office environment with strong site visibility on Franklin Street, which is supported in the remarks by 23,000 vehicles per day. The recent giveback of Suite 200 in the 1512 building creates a practical opportunity to accommodate a full-floor user or to strategically demise the space to support leasing flexibility.
The site is positioned about two miles from UNC-Chapel Hill, with access to downtown Chapel Hill and nearby retail and healthcare options including Village Plaza and University Place. The in-town infill location also provides quick access to I-40 for routes to Durham, RTP, RDU Airport, and other destinations across the Triangle and Triad.
For tenants and operators, the property offers a well-managed office environment with strong site visibility on Franklin Street, which is supported in the remarks by 23,000 vehicles per day. The recent giveback of Suite 200 in the 1512 building creates a practical opportunity to accommodate a full-floor user or to strategically demise the space to support leasing flexibility.
Key Highlights
- Two office buildings at 1512 & 1516 Franklin Park total 50,390 SF on 4.67 acres in Chapel Hill’s Franklin Street area.
- 41.2% leased, with leasing‑up and hands‑on asset management identified as potential value drivers.
- Built between 1996 and 1997 and professionally managed, with a recent giveback of Suite 200 at the 1512 building.
Property Analytics
Property Profile
Current Use
Lease Details
23,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,600
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
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Frequently Asked Questions
What type of property is this?
Office building - Two professionally managed office buildings near UNC with monument signage and ample parking, presented for sale as a Franklin Park land condo.
Where is this office building located?
The property is located at 1512 E Franklin Street Chapel Hill, NC.
What are key features of this property?
This property features: Two office buildings at 1512 & 1516 Franklin Park total 50,390 SF on 4.67 acres in Chapel Hill’s Franklin Street area.; 41.2% leased, with leasing‑up and hands‑on asset management identified as potential value drivers.; Built between 1996 and 1997 and professionally managed, with a recent giveback of Suite 200 at the 1512 building.
