Craftsman Live-Work
For Sale
$493,000
1814 Chapel Hill Road, Durham, NC 27707
Commercial Sale, Durham, NC
Property Size1,922 SF
Lot Size0.30 Acres
Price / SF$256.50
Days on Market96
Property Features for 1814 Chapel Hill Road
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OI, Urban Tier
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Basement, Bathroom 3, Bathroom 2, Bathroom 1
Parking
5
Vegetation
Cleared
Interior features
Bathtub/Shower Combination, Laminate Counters
Exterior features
Rain Gutters
Fencing
Gate
Basement
Dirt Floor, Concrete, Walk-Out Access, Unfinished, Interior Entry
Appliances
Dishwasher, Electric Water Heater, Free-Standing Gas Range, Free-Standing Refrigerator
Subdivision
Not in a Subdivision
Lot features
Back Yard, Front Yard, Garden, Landscaped
Standard status
Active
APN
108485
Size
1,922 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Prop-Vickers W D/Lt#02 Pl:000011-000019
Tax Annual Amount
4838
Legal Description
Prop-Vickers W D/Lt#02 Pl:000011-000019
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
front porch
fireplace
dining room
breakfast room
walk-out basement
flower garden
Building Details
Year built
1938
Floors in Building
2
Flooring type
Tile, Vinyl, Hardwood, Carpet
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
Weichert, Realtors-Mark Thomas
(919) 403-5315
Listed By:
Lisa Janes
(919) 423-3463
Added: Jun 1
Changed: Sep 2
Last Checked: Sep 4 at 9:06AM
MLS# 10172171
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,922-square-foot Craftsman-style bungalow is configured for live-work use on a 0.3-acre parcel. The interior includes a front parlor with fireplace, separate dining room, bright breakfast room, three bathrooms, and an unfinished walk-out basement with concrete flooring. Hardwood, tile, vinyl, and carpet flooring are present, along with central air, forced-air natural gas heat, a gas range, refrigerator, dishwasher, and electric water heater. Wood siding, a shingle roof, and rain gutters complete the exterior, while the roof, gutters, and water heater are described as newer.
The property is located at 1814 Chapel Hill Road in Durham, within the OI, Urban Tier zoning district. A detached garage building and additional parking are positioned behind the home. Lakewood Social Restaurant is located less than a block away, with the Lakewood YMCA, Duke University, Durham Performing Arts Center, Durham Bulls Ballpark, restaurants, shopping, and places of worship within minutes.
The property is located at 1814 Chapel Hill Road in Durham, within the OI, Urban Tier zoning district. A detached garage building and additional parking are positioned behind the home. Lakewood Social Restaurant is located less than a block away, with the Lakewood YMCA, Duke University, Durham Performing Arts Center, Durham Bulls Ballpark, restaurants, shopping, and places of worship within minutes.
Key Highlights
- 1,922 square feet on a 0.3‑acre parcel
- Live‑work configuration in OI, Urban Tier zoning
- 1938 Craftsman‑style bungalow with front parlor fireplace and separate dining room
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
$29,683
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
6.02%
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%
$593,660
$593.7K
Cap Rate 7%
$424,043
$424.0K
Cap Rate 9%
$329,811
$329.8K
Market Conditions
NOI Build-Up for 1,922 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
$48.0K $24.96/SF
− Vacancy
−$8.4K −$4.37/SF
EGI
$39.6K $20.59/SF
− OpEx
−$9.9K −$5.15/SF
NOI
$29.7K $15.44/SF
Area
Durham, 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%
$593,660
Cap Rate 7%
$424,043
Cap Rate 9%
$329,811
Alternative Uses
Best Use
Office B
$424.0K
$371.0K – $494.7K
NOI $29,683 @ 7.0% cap · market cap 6.02%
Second Best
Mixed Use
$370.7K
$324.3K – $432.5K
NOI $25,947 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$620.6K
$543.1K – $724.1K
NOI $43,444 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
Explore this area
Business Placement
Demographics for 27707, NC
49,787
Population
23,528
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
92%
High-School Grad
20.7 sq mi
ZIP Area
2,405
Density / Sq Mi
$72,432
Median Household Income
$45,803
Median Earnings
$1,364
Median Rent
$371,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - This 1938 bungalow combines a residential layout with office-oriented zoning.
Where is this live-work space located?
The property is located at 1814 Chapel Hill Road Durham, NC.
What is the asking price?
The asking price for this property is $493,000.
What are key features of this property?
This property features: 1,922 square feet on a 0.3‑acre parcel; Live‑work configuration in OI, Urban Tier zoning; 1938 Craftsman‑style bungalow with front parlor fireplace and separate dining room
