Freestanding Storefront
For Sale
$350,000
2715 Chapel Hill, Durham, NC 27707
Existing salon configuration with rear parking and access to nearby retail, dining, and major transportation routes.
Property Size1,361 SF
Price / SF$257.16
Days on Market116
Property Features for 2715 Chapel Hill
General Information
Standard status
Active
Size
1,361 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$3,140
Amenities
Central air
Central Air Cooling
Fireplace(s) Heating
Forced Air Heating
In Kitchen
Rain Gutters
Shingle Roof
Sloped
Vinyl Flooring
Wood Flooring
Building Details
Year Built
1935
Listing Agency:
COLDWELL BANKER ADVANTAGE
(919) 528-4888
Listed By:
ANITA C SMITH
Source:
Corcoran
Added: May 7
Changed: Aug 29
Last Checked: Aug 29 at 3:07PM
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 COLDWELL BANKER ADVANTAGE
Investment Insights
Based on property information with market context.
This 1,361-square-foot storefront property was built in 1935 and is currently configured for salon use. The space may accommodate other purposes, subject to applicable requirements. A side driveway provides access to parking positioned behind the building.
The property is located at 2715 Chapel Hill in Durham, near 15-501 Business and I-40. Shopping and restaurants are also nearby, adding established commercial activity to the surrounding area.
The property is located at 2715 Chapel Hill in Durham, near 15-501 Business and I-40. Shopping and restaurants are also nearby, adding established commercial activity to the surrounding area.
Key Highlights
- 1,361‑square‑foot storefront property built in 1935
- Currently configured for salon use with potential for other purposes
- Side driveway provides access to rear parking
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
$15,691
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
4.48%
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%
$313,820
$313.8K
Cap Rate 7%
$224,157
$224.2K
Cap Rate 9%
$174,344
$174.3K
Market Conditions
NOI Build-Up for 1,361 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
$24.5K $18.00/SF
− Vacancy
−$2.1K −$1.53/SF
EGI
$22.4K $16.47/SF
− OpEx
−$6.7K −$4.94/SF
NOI
$15.7K $11.53/SF
Area
Durham, NC
Vacancy
8.50%
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%
$313,820
Cap Rate 7%
$224,157
Cap Rate 9%
$174,344
Alternative Uses
Best Use
Retail
$224.2K
$196.1K – $261.5K
NOI $15,691 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$439.5K
$384.6K – $512.7K
NOI $30,764 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Under-served
Demand for This Use
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 Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Pine State Flowers — 2001 Chapel Hill Rd, Durham, NC 27707
Frequently Asked Questions
What type of property is this?
Storefront property - Existing salon configuration with rear parking and access to nearby retail, dining, and major transportation routes.
Where is this storefront property located?
The property is located at 2715 Chapel Hill Durham, NC.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: 1,361‑square‑foot storefront property built in 1935; Currently configured for salon use with potential for other purposes; Side driveway provides access to rear parking
