Flex Property with Drive-In
259 S Churton Street, Hillsborough, NC 27278
For Sale
Contact for pricing
Conditioned office space pairs with a large service-oriented building and HIC zoning.
Property Size12,830 SF
Lot Size2.68 Acres
Price / SF$194.86
Days on Market29
Property Features for 259 S Churton Street
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Warehouse & Industrial
Clear Height
Office Build-Out
Drive-In Doors
Additional Details
Automotive Uses
Real Estate Included
Amenities
roll-up doors
clear heights
conditioned office space
drive-in access
Building Details
Buildings
Building Size
Listing Agency:
Pickett Sprouse Commercial Real Estate
Listed By:
Emilee Collins
(919) 493-0395
Source:
Crexi
Added: Oct 14
Changed: Nov 10
Last Checked: Nov 10 at 2:13PM
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 Pickett Sprouse Commercial Real Estate
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Investment Insights
Based on property information with market context.
This freestanding flex property contains 12,830 SF on a 2.68-acre site. Approximately 2,500 SF is conditioned office area, alongside 16 roll-up doors with 14' openings and clear heights from 15' to 19'2". The site also includes approximately 27 parking spaces. The property previously operated as an auto dealership and collision center.
At 259 S. Churton Street in Hillsborough, the property sits at the edge of Downtown. HIC zoning supports a range of uses, including automotive sales and service, retail, breweries, event centers, health and fitness facilities, recreation, contractor offices, order fulfillment, and research facilities.
At 259 S. Churton Street in Hillsborough, the property sits at the edge of Downtown. HIC zoning supports a range of uses, including automotive sales and service, retail, breweries, event centers, health and fitness facilities, recreation, contractor offices, order fulfillment, and research facilities.
Key Highlights
- 12,830 SF freestanding flex building on 2.68 acres
- Approximately 2,500 SF of conditioned office space
- 16 roll‑up doors with 14' openings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$169,540
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,390,800
$3.4M
Cap Rate 7%
$2,422,000
$2.4M
Cap Rate 9%
$1,883,778
$1.9M
Market Conditions
NOI Build-Up for 12,830 SF
Gross rent
$257.1K $20.04/SF
− Vacancy
−$14.9K −$1.16/SF
EGI
$242.2K $18.88/SF
− OpEx
−$72.7K −$5.66/SF
NOI
$169.5K $13.21/SF
Area
Orange County, NC
Vacancy
5.80%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,390,800
Cap Rate 7%
$2,422,000
Cap Rate 9%
$1,883,778
Alternative Uses
Best Use
Industrial
$2.42M
$2.12M – $2.83M
NOI $169,540 @ 7.0% cap · market cap 6.78%
Second Best
Flex RnD
$2.27M
$1.98M – $2.65M
NOI $158,767 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$4.14M
$3.63M – $4.83M
NOI $290,006 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
19 ft
Clear height
16
Drive-in doors
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 27278, NC
28,846
Population
12,328
Households
2.3
Avg Household Size
43
Median Age
54%
College-Educated
91%
High-School Grad
103.7 sq mi
ZIP Area
278
Density / Sq Mi
$101,821
Median Household Income
$51,380
Median Earnings
$1,294
Median Rent
$380,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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- Beau Catering Marketplace — 500 valley forge rd, hillsborough, nc 27278
- Amelia Irene Catering and Event Design — 500 Valley Forge Rd, Hillsborough, NC 27278
- On the Rocks Bartending — 437 dimmocks mill rd suite 3, hillsborough, nc 27278
Frequently Asked Questions
What type of property is this?
Flex space - Conditioned office space pairs with a large service-oriented building and HIC zoning.
Where is this flex space located?
The property is located at 259 S Churton Street Hillsborough, NC.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 12,830 SF freestanding flex building on 2.68 acres; Approximately 2,500 SF of conditioned office space; 16 roll‑up doors with 14' openings
