Two-Story Office Building with
For Sale
$2,900,000
300 Silver Cedar Court, Chapel Hill, NC 27514
Commercial Sale, Chapel Hill, NC
Property Size14,739 SF
Lot Size1.18 Acres
Price / SF$196.76
Days on Market957
Property Features for 300 Silver Cedar Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OI-2
Parking
52
Parking features
Parking Lot
Subdivision
Not In Subdivision
Lot features
Cul-De-Sac
Directions
I-40 TO MLK (AIRPORT RD.), TO WEAVER DAIRY,TO RIGHT ON KINGSTON, TO LEFT ON SILVERCEDAR CT. OFFICE ON RIGHT.
Standard status
Active
APN
9880552089
Size
14,739 SF
Lot size
1.18 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
#7 Timberlyne Office Park South P42/174
Tax Annual Amount
55134
Legal Description
#7 Timberlyne Office Park South P42/174
Utilities
Heating system
Electric (Heating), Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
loading dock
handicap ramp
breakroom
full kitchen
reception area
lobby
fence
production/printing room
conference space
Building Details
Year built
2000
Flooring type
Laminate, Tile, Vinyl, Carpet
Building materials
Brick, Wood Frame
Roof type
Composition
Listing Agency:
Just Be Home Realty
(919) 971-2850
Listed By:
Tracy F Wright · License #173232
(919) 726-9924
Added: Jan 6, 2024
Changed: Aug 20
Last Checked: Aug 20 at 7:06PM
MLS# 100420975
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2000, this 14,739-square-foot Class B office building offers a two-story brick structure with elevator access and a range of work areas. The main floor includes more than 20 offices, restrooms, a breakroom, a production and printing room, loading dock, handicap ramp, and three stair sets. The upper level adds nine offices, three larger rooms suited to office or meeting use, additional restrooms, a full kitchen, reception, and lobby areas. An unfinished walk-up attic provides additional storage space.
The property occupies 1.18 acres and includes a level-grade parking lot with 50 spaces, including 2 handicap spaces, plus rear fencing. OI-2 zoning, public water, central air, forced-air heating, and a composition roof are also in place. The Chapel Hill property is near UNC and Duke universities and medical centers, Research Triangle Park, and major interstates.
The property occupies 1.18 acres and includes a level-grade parking lot with 50 spaces, including 2 handicap spaces, plus rear fencing. OI-2 zoning, public water, central air, forced-air heating, and a composition roof are also in place. The Chapel Hill property is near UNC and Duke universities and medical centers, Research Triangle Park, and major interstates.
Key Highlights
- 14,739‑square‑foot Class B office building completed in 2000
- Two‑story brick building with elevator, loading dock, handicap ramp, and three stair sets
- More than 20 main‑level offices plus 9 offices on the second floor
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
$227,629
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
7.85%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
737
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Class B office property with adaptable rooms, production space, and a full kitchen.
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: 14,739‑square‑foot Class B office building completed in 2000; Two‑story brick building with elevator, loading dock, handicap ramp, and three stair sets; More than 20 main‑level offices plus 9 offices on the second floor
