Three-Story Office
1600 E Franklin Street Unit 1600 Chapel Hill, NC 27514
1600 E Franklin Street Unit 1600, Chapel Hill, NC, 27514
$2,300,000
For Sale
$2,300,000
Three-story office building with leased first and second floors and a third-floor suite available for lease.
Property Size12,800 SF
Lot Size1.00 Acre
Price / SF$179.69
Days on Market248
Property Features for 1600 E Franklin Street Unit 1600
General Information
- Standard status
- Active
- Size
- 12,800 SF
- Lot size
- 1.00 Acre
- Property subtype
- Office
Building Details
- Year Built
- 1985
Listing agency
(919) 923-3295
Listed by
Triangle Real Estate Services
(919) 923-3295
Source
Xome
Added: Nov 16, 2025 Updated: Jul 21 at 7:39PM Checked: Jul 21 at 7:39PM
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 Triangle Real Estate Services
Investment Insights
Based on property information with market context.
This three-story office building sits on a one-acre corner lot and includes leased space on the first and second floors through 2029. The third floor, totaling 4,975 square feet, is available for lease. The building features abundant glass for natural light and views, with convenient lobby access to the upper levels via stairs or elevator.
Located on East Franklin Street in Chapel Hill, the property is described as convenient to Whole Foods, Staples, Trader Joe’s, and other nearby retail options. The public remarks also note access from a bus line that is free.
The building offers a straightforward vertical office layout with both stair and elevator service from the lobby, supporting day-to-day tenant operations across multiple floors.
Located on East Franklin Street in Chapel Hill, the property is described as convenient to Whole Foods, Staples, Trader Joe’s, and other nearby retail options. The public remarks also note access from a bus line that is free.
The building offers a straightforward vertical office layout with both stair and elevator service from the lobby, supporting day-to-day tenant operations across multiple floors.
Key Highlights
- Three‑story office building (1985) on a 1‑acre corner lot with city road frontage
- First and second floors are leased to Coldwell Banker HPW through 2029
- Third floor is 4,975 SF and available for lease at $21.50/SF
Local Financial Insights For Office B
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 | $319.5k | $24.96 |
| − Vacancy | −$55.9k | −$4.37 |
| EGI | $263.6k | $20.59 |
| − OpEx | −$65.9k | −$5.15 |
| NOI | $197.7k | $15.44 |
12,800 SF · lease $24.96/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.82M
$2.47M – $3.29M
NOI $197,683 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.13M
$3.62M – $4.82M
NOI $289,328 @ 7.0% cap · market cap 12.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bryan Guarnieri, Howard ...
Real Estate Agency
Tyler Priest Loan ...
Loan Service
Dianne Gray REALTOR
Real Estate Agency
Keith E. Green
Real Estate Agency
Sandie Reed, Howard ...
Real Estate Agency
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FAQs
What type of property is this?
Office building - Three-story office building with leased first and second floors and a third-floor suite available for lease.
Where is this office building located?
The property is located at 1600 E Franklin Street Unit 1600 Chapel Hill, NC.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Three‑story office building (1985) on a 1‑acre corner lot with city road frontage; First and second floors are leased to Coldwell Banker HPW through 2029; Third floor is 4,975 SF and available for lease at $21.50/SF
