Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Franklin Street Commercial Property Opportunity Title is generated by Realmo AI

    203 E Franklin St, Chapel Hill, NC 27514

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Prime Franklin Street location in Chapel Hill near UNC campus.

    Type:Retail
    Property size:
    5,118 SF
    Added:
    Feb 18, 2026
    Days on Market:
    86
    Last Refresh:
    Mar 17 at 1:16 pm

    Property Features for 203 E Franklin St

    General Information

    Standard status
    Active
    Size
    5,118 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1932

    We can help!

    Listing Contact
    Sam DiFranco Jr
    Sam DiFranco Jr

    Listing agent Sam DiFranco Jr License #NC 270959

    Listing office Rich Commercial Realty

    Listing date Feb 18, 2026

    Source Crexi

    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 Rich Commercial Realty

    HighLights

    • Prime Franklin Street location in downtown Chapel Hill, adjacent to UNC campus.
    • Former Linda’s Bar & Grill site with 40+ years of brand recognition.
    • High foot traffic from UNC students, faculty, alumni, and visitors.
    • Established bar/restaurant infrastructure in place.
    • Opportunity for owner‑operator to relaunch hospitality concept.
    • Repositioning potential for refreshed uses aligned with downtown Chapel Hill demand.

    Overview

    This property, formerly Linda’s Bar & Grill, presents a commercial real estate opportunity in downtown Chapel Hill. Located directly on Franklin Street, adjacent to the UNC campus, the 5118-square-foot property benefits from foot traffic generated by students, faculty, alumni, and visitors. The property's location in Chapel Hill’s commercial corridor, combined with University-driven demand, supports hospitality, retail, and experiential concepts. The mixed-use property with existing bar and restaurant infrastructure offers potential for relaunching a hospitality concept or repositioning the asset for refreshed uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    East Coast Electric ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Starbucks — 101 Manning Dr, Chapel Hill, NC 27514
    • Franklin Motors — 601 W Franklin St, Chapel Hill, NC 27516
    • Bowbarr — 705 W Rosemary St, Carrboro, NC 27510
    • Lapin Bleu (Blue) — 106A N Graham St, Chapel Hill, NC 27516
    • Belltree Cocktail Club — 100 Brewer Ln A, Carrboro, NC 27510

    Location Insight

    • Map
    • Local Demand
    City
    Chapel Hill
    County
    Orange
    State
    North Carolina
    Longitude
    -79.059232
    Latitude
    35.911774

    Nearby Similar for Sale

    • $600,000
      2,200 SF

      Chapel Hill Duplex Investment

      Cash-flowing duplex near UNC, ideal for investors or owner-occupants.
      373 Umstead Drive, Chapel Hill, NC 27516
      View Details
    • $1,150,000
      4,320 SF

      Chapel Hill Multifamily Redevelopment Opportunity

      Prime location near UNC with redevelopment potential on 1.79 acres.
      210 Purefoy Road, Chapel Hill, NC 27514
      View Details
    • $975,000

      Chapel Hill Office Development Site

      Highly visible site with approved plans for office building.
      1751 Dobbins, Chapel Hill, NC 27514
      View Details
    • $185,295
      1,132 SF

      Office Condo in Downtown Chapel Hill

      Office condo in shell condition, downtown Chapel Hill location.
      308 W Rosemary Street, Chapel Hill, NC 27516
      View Details
    • $636,000
      2,186 SF

      Chapel Hill Duplex Opportunity

      Move-in ready duplex in Chapel Hill, ideal for investors.
      2125 Old Oxford Road E, Chapel Hill, NC 27514
      View Details
    • $750,000
      2,769 SF

      New Chapel Hill Duplex Investment

      New construction duplex in Chapel Hill, ideal for investment.
      255 Erwin Road, Chapel Hill, NC 27514
      View Details
    • $475,000
      1,772 SF

      Chapel Hill Duplex in HOA

      Well-maintained duplex with modern amenities in a convenient location.
      312 Charleston Lane, Chapel Hill, NC 27517
      View Details
    • $2,900,000
      14,739 SF

      Chapel Hill Office Building For Sale

      Class B office building with flexible space in Chapel Hill.
      300 Silver Cedar Court, Chapel Hill, NC 27514
      View Details
    • $5,000,000
      13,507 SF

      Chapel Hill Retail Investment Opportunity

      Two buildings totaling 13,507 SF in Chapel Hill, NC.
      109 East Franklin Street, Chapel Hill, NC, 27514
      View Details
    • $3,600,000
      4,226 SF

      Chapel Hill Restaurant Building For Sale

      Fully operational restaurant building near the University and downtown.
      408 W Rosemary Street, Chapel Hill, NC 27516
      View Details
    • $35
      113,000 SF

      Class A Office in Chapel Hill

      Luxury office space with retail, dining, and residential components.
      Environ Way, Chapel Hill, NC 27517
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Prime Franklin Street location in Chapel Hill near UNC campus.
    Where is this bar & pub located?
    The property is located at 203 E Franklin St Chapel Hill, NC.
    What are key features of this property?
    This property features: Prime Franklin Street location in downtown Chapel Hill, adjacent to UNC campus.; Former Linda’s Bar & Grill site with 40+ years of brand recognition.; High foot traffic from UNC students, faculty, alumni, and visitors.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Sam DiFranco Jr
    Sam DiFranco Jr
    Real Estate License ID: NC 270959
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    203 E Franklin St, Chapel Hill, NC 27514
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!