Chapel Hill Office Building For
300 Silver Cedar Court, Chapel Hill, NC 27514
For Sale
$2,900,000
Class B office building with flexible space in Chapel Hill.
Property Size14,739 SF
Lot Size1.18 Acres
Price / SF$196.76
Days on Market933
Property Features for 300 Silver Cedar Court
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Year Built
Listing Agency:
Just Be Home Realty
(919) 726-9924
Listed By:
Tracy F Wright · License NC #173232
(919) 971-2850
Source:
Exitrealty
Added: Apr 22, 2024
Changed: Aug 8
Last Checked: Aug 19 at 5:17AM
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 Just Be Home Realty
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Investment Insights
Based on property information with market context.
This Class B office building, located in Chapel Hill, North Carolina, offers 14,739 square feet of space and includes an elevator. The two-story, all-brick building is in very good condition. The main level features over 20 office spaces, men's and ladies' bathrooms, a breakroom, a large production/printing room, a loading dock, a handicap ramp, and three sets of stairs to the second level. The second level offers nine individual offices, three large rooms suitable for individual offices or training/conference spaces, men's and ladies' bathrooms, a full kitchen, and reception and lobby areas. A third floor provides an unfinished walk-up attic suitable for storage. The property includes a 50-space, level-grade parking lot with two handicap spaces and a fence along the rear. Located on the north side of Chapel Hill, in the fastest-growing area in Orange County, the building provides a tremendous amount of flex space and is suitable for many uses. Its location offers proximity to UNC & Duke Universities and Medical Centers, the Research Triangle Park, and major interstates.
Key Highlights
- Prime Location: Close to UNC & Duke Universities, Medical Centers, Research Triangle Park, and major interstates.
- Turn‑Key Class B Office Building: 14,739 sq ft in very good condition, ready for immediate occupancy or lease.
- Flexible Space: Suitable for many uses with over 20 offices on the main level and additional large rooms upstairs.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$227,629
Cap Rate
7.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,552,580
$4.6M
Cap Rate 7%
$3,251,843
$3.3M
Cap Rate 9%
$2,529,211
$2.5M
Market Conditions
NOI Build-Up for 14,739 SF
Gross rent
$367.9K $24.96/SF
− Vacancy
−$64.4K −$4.37/SF
EGI
$303.5K $20.59/SF
− OpEx
−$75.9K −$5.15/SF
NOI
$227.6K $15.44/SF
Area
Orange County, NC
Vacancy
17.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,552,580
Cap Rate 7%
$3,251,843
Cap Rate 9%
$2,529,211
Alternative Uses
Best Use
Office B
$3.25M
$2.85M – $3.79M
NOI $227,629 @ 7.0% cap · market cap 7.85%
Second Best
Industrial
$2.78M
$2.43M – $3.25M
NOI $194,767 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$4.76M
$4.16M – $5.55M
NOI $333,157 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
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Business Placement
Demographics for 27514, NC
33,809
Population
11,470
Households
2.9
Avg Household Size
27
Median Age
80%
College-Educated
98%
High-School Grad
19.6 sq mi
ZIP Area
1,725
Density / Sq Mi
$94,167
Median Household Income
$25,145
Median Earnings
$1,491
Median Rent
$628,700
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Class B office building with flexible space in Chapel Hill.
Where is this office building located?
The property is located at 300 Silver Cedar Court Chapel Hill, NC.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Prime Location: Close to UNC & Duke Universities, Medical Centers, Research Triangle Park, and major interstates.; Turn‑Key Class B Office Building: 14,739 sq ft in very good condition, ready for immediate occupancy or lease.; Flexible Space: Suitable for many uses with over 20 offices on the main level and additional large rooms upstairs.
