Retail Space with Office
For Sale
$309,988
240 East Winmore Avenue Unit C 2, Chapel Hill, NC 27516
Built in 2009, this Chapel Hill space accommodates either office or retail use.
Property Size777 SF
Price / SF$398.95
Days on Market122
Property Features for 240 East Winmore Avenue Unit C 2
General Information
Standard status
Active
Size
777 SF
Property subtype
Commercial Sale / Mixed Use
Taxes and HOA fees
Annual Taxes
$2,738
Amenities
Central Air
Central
1
Yes
Hardwood
Brick
Storage, Other
No
Brick, Mixed Use
Accessible Common Area
Building Details
Year Built
2009
Buildings
1
Listing Agency:
SERHANT North Carolina LLC
(919) 428-4820
Listed By:
RRemida Shkoza · License #306342
(919) 428-4820
Source:
Compass
Added: May 1
Changed: Aug 30
Last Checked: May 26 at 8:19AM
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 SERHANT North Carolina LLC
Investment Insights
Based on property information with market context.
This retail space at 240 E Winmore E #C 2 offers a flexible setting for a retail concept or office operation. The property was built in 2009 and is presented for sale.
Located in Chapel Hill, the space serves businesses seeking a presence in an established local setting. Its dual office and retail positioning allows the next occupant to align the premises with its operating model.
Located in Chapel Hill, the space serves businesses seeking a presence in an established local setting. Its dual office and retail positioning allows the next occupant to align the premises with its operating model.
Key Highlights
- Flexible office or retail use
- Built in 2009
- Located at 240 E Winmore E #C 2, Chapel Hill, NC 27516
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
$9,056
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
2.92%
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%
$181,120
$181.1K
Cap Rate 7%
$129,371
$129.4K
Cap Rate 9%
$100,622
$100.6K
Market Conditions
NOI Build-Up for 777 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
$14.0K $18.00/SF
− Vacancy
−$1.0K −$1.35/SF
EGI
$12.9K $16.65/SF
− OpEx
−$3.9K −$5.00/SF
NOI
$9.1K $11.66/SF
Area
Orange County, NC
Vacancy
7.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$181,120
Cap Rate 7%
$129,371
Cap Rate 9%
$100,622
Alternative Uses
Best Use
Retail
$129.4K
$113.2K – $150.9K
NOI $9,056 @ 7.0% cap · market cap 2.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$250.9K
$219.5K – $292.7K
NOI $17,563 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 27516, NC
45,841
Population
18,684
Households
2.5
Avg Household Size
35
Median Age
72%
College-Educated
96%
High-School Grad
93.5 sq mi
ZIP Area
490
Density / Sq Mi
$100,788
Median Household Income
$48,638
Median Earnings
$1,446
Median Rent
$508,400
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Built in 2009, this Chapel Hill space accommodates either office or retail use.
Where is this retail space located?
The property is located at 240 East Winmore Avenue Unit C 2 Chapel Hill, NC.
What is the asking price?
The asking price for this property is $309,988.
What are key features of this property?
This property features: Flexible office or retail use; Built in 2009; Located at 240 E Winmore E #C 2, Chapel Hill, NC 27516
