Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    23113 Umstead Chapel Hill, NC 27517

    View on Map
    Claim this Listing
    New
    For Sale
    $449,000

    LAND - Chapel Hill, NC

    Lot size:
    1.06 Acres
    Added:
    Apr 28, 2026
    Days on Market:
    1
    Last Refresh:
    Apr 28 at 9:06 pm

    Property Features for 23113 Umstead

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    R-1
    Vegetation
    Heavily Wooded, Wooded
    Standard status
    Active
    APN
    0066810
    Lot size
    1.06 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    N2-81-85
    Tax Annual Amount
    2291

    Utilities

    Utilities
    Cable Available
    Water source
    Public

    We can help!

    Listing Contact
    Scott Kelley

    Listing agent Scott Kelley License #175362

    Listing office Governors Club Realty 10100 Governors Drive, Chapel Hill, NC

    Listing date Apr 28, 2026

    MLS# 10163253 Listing URL

    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.

    Overview

    Governors Club Estate Homesite

    This one-acre-plus estate homesite is located within the gated Governors Club community, positioned directly on the 17th fairway of the Jack Nicklaus Signature Golf Course. The property features a gently sloping terrain, ideal for a lower-level walk-out in the rear, and is heavily wooded with hardwood trees. This location offers the opportunity to build a custom dream home. Residents can walk to the clubhouse, pro shop, restaurant, pool, tennis courts, fitness center, and golf course. The property is in close proximity to the community's sidewalks and the Mt. Carmel Church Road gatehouse. Governors Club is a gated community with private country club options, including a Jack Nicklaus Signature 27-hole golf course, tennis courts, pools, fitness center, and playground. The community hosts more than 400 social events, clubs, tennis, swim, and fitness activities. Tours of the clubhouse and amenities can be arranged. The location provides close proximity to UNC, Duke, RTP, RDU Airport, shopping, sports, entertainment, and medical facilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Kitchen & Bath Showroom HVAC Service Nursing Home Nursing Home

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

    Location Insight

    • Map
    • Local Demand
    City
    Chapel Hill
    County
    Orange
    State
    North Carolina
    Longitude
    -79.0429446
    Latitude
    35.8424387

    Nearby Similar for Sale

    • $975,000

      Chapel Hill Office Development Site

      Highly visible site with approved plans for office building.
      1751 Dobbins, Chapel Hill, NC 27514
      View Details
    • $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
    • $889,000
      3,000 SF

      Chapel Hill Duplex Investment Opportunity

      Two-unit property near Bolin Creek Trail with strong rental potential.
      100 Umstead Drive, Chapel Hill, NC 27516
      View Details
    • $2,100,000
      3,240 SF

      Chapel Hill Redevelopment Opportunity

      2.4 acres of land suitable for multifamily development.
      870 Weaver Dairy Road, Chapel Hill, NC 27514
      View Details
    • $889,000
      3,000 SF

      Chapel Hill Multifamily Investment

      Two-unit property near Bolin Creek Trail in Chapel Hill.
      100 Umstead Drive, Chapel Hill, NC 27516
      View Details
    • $480,000

      Chapel Hill Homesite Opportunity

      6.14-acre homesite near Chapel Hill and Jordan Lake.
      7 Edwards Ridge Road, Chapel Hill, NC 27517
      View Details
    • $700,000

      Chapel Hill Estate Lot

      Private 3.15-acre lot in desirable Chapel Hill location.
      Secretariat Court lot: 14, Chapel Hill, NC 27516
      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
    • $428,000

      Jordan Lake Homesite Opportunity

      5-acre property near Jordan Lake with approved perc test.
      294 The Glades, Chapel Hill, NC 27517
      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

    FAQs

    What type of property is this?
    Residential land & home lot - One-acre homesite on the 17th fairway in Governors Club.
    Where is this residential land & home lot located?
    The property is located at 23113 Umstead Chapel Hill, NC.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Prime location directly on the 17th fairway of the Jack Nicklaus Signature Golf Course.; One‑acre plus estate homesite within the gated Governors Club community.; Gently sloping lot perfect for a lower‑level walk‑out.
    (919) 612-4968
    We can help!
    Listing Contact
    Scott Kelley
    Real Estate License ID: 175362
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!