Office Suite for
For Sale
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501 Eastowne Drive Suite 265, Chapel Hill, NC 27514
For-sale office space offering 2,064 sq ft of usable workspace.
Property Size2,064 SF
Price / SF$254.36
Days on Market55
Property Features for 501 Eastowne Drive Suite 265
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Office
Building Details
Year Built
2005
Listing Agency:
Avison Young - Raleigh Durham
(919) 622-1637
Listed By:
Bill Aucoin · License #NC 202339
Source:
Crexi
Added: Jun 19
Changed: Aug 8
Last Checked: Jun 24 at 2:56AM
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 Avison Young - Raleigh Durham
Investment Insights
Based on property information with market context.
This for-sale office suite is identified as Suite 265 and totals 2,064 sq ft. It is presented as a defined commercial unit, suited for professional tenants that want a dedicated footprint within an office setting.
The suite is located at 501 Eastowne Drive in Chapel Hill, North Carolina. The listing details the property as an office unit, making it straightforward for buyers or tenants to evaluate as a self-contained workspace option based on the stated square footage.
For owner-users, this size can support a range of office needs where having a dedicated suite matters to operations and scheduling. For investors or buyers looking for a smaller office asset, the defined suite configuration can be easier to underwrite and manage than larger, multi-tenant spaces, while still providing a dedicated area sized at 2,064 sq ft. The property is offered for sale at a stated list price, with the transaction terms and unit size clearly identified in the listing information.
The suite is located at 501 Eastowne Drive in Chapel Hill, North Carolina. The listing details the property as an office unit, making it straightforward for buyers or tenants to evaluate as a self-contained workspace option based on the stated square footage.
For owner-users, this size can support a range of office needs where having a dedicated suite matters to operations and scheduling. For investors or buyers looking for a smaller office asset, the defined suite configuration can be easier to underwrite and manage than larger, multi-tenant spaces, while still providing a dedicated area sized at 2,064 sq ft. The property is offered for sale at a stated list price, with the transaction terms and unit size clearly identified in the listing information.
Key Highlights
- Office building built in 2005
- For‑sale office space with 2,064 sq ft of usable workspace
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
$31,876
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
6.07%
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%
$637,520
$637.5K
Cap Rate 7%
$455,371
$455.4K
Cap Rate 9%
$354,178
$354.2K
Market Conditions
NOI Build-Up for 2,064 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
$51.5K $24.96/SF
− Vacancy
−$9.0K −$4.37/SF
EGI
$42.5K $20.59/SF
− OpEx
−$10.6K −$5.15/SF
NOI
$31.9K $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%
$637,520
Cap Rate 7%
$455,371
Cap Rate 9%
$354,178
Alternative Uses
Best Use
Office B
$455.4K
$398.5K – $531.3K
NOI $31,876 @ 7.0% cap · market cap 6.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$666.5K
$583.2K – $777.6K
NOI $46,654 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,138
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 units - For-sale office space offering 2,064 sq ft of usable workspace.
Where is this office units located?
The property is located at 501 Eastowne Drive Suite 265 Chapel Hill, NC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Office building built in 2005; For‑sale office space with 2,064 sq ft of usable workspace
