R-2 Multifamily
543-549 Cedar Lake Road, Chapel Hill, NC 27516
For Sale
$1,295,000
Built in 1978 with central air and wooded surroundings.
Property Size5,301 SF
Price / SF$244.29
Days on Market98
Property Features for 543-549 Cedar Lake Road
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Lease Term
Taxes and HOA fees
Annual Taxes
Amenities
Total Area Heated
Central Air
Central, Forced Air
Dishwasher, Electric Range, Free-Standing Electric Range, Free-Standing Refrigerator, Free-Standing Range, Range, Refrigerator, Range Hood, Washer/Dryer, Water Heater
Eat-in Kitchen, Granite Counters, His and Hers Closets, High Speed Internet
Forest, Trees/Woods
Asphalt, Additional Parking, Driveway, Gravel, Parking Pad
Rain Gutters
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
Long & Foster Real Estate INC
Listed By:
Chad Lloyd · License NC #243094
(919) 606-8511
Source:
Evrealestate
Added: Aug 5
Changed: Nov 6
Last Checked: Nov 10 at 7:44AM
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 Long & Foster Real Estate INC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property at 543-549 Cedar Lake Road was built in 1978 and carries R-2 zoning. Interior features include central air, forced-air heating, granite countertops, an eat-in kitchen, high-speed internet, and washer and dryer connections or equipment. The property also includes a dishwasher, electric range, refrigerator, range hood, and water heater.
Exterior features include trees and wooded surroundings, asphalt and gravel drive areas, additional parking, a parking pad, and rain gutters. The property is located in Chapel Hill, NC, within Chatham County.
Exterior features include trees and wooded surroundings, asphalt and gravel drive areas, additional parking, a parking pad, and rain gutters. The property is located in Chapel Hill, NC, within Chatham County.
Key Highlights
- R‑2 zoning
- 5,301 property size
- Built in 1978
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,161
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,220
$803.2K
Cap Rate 7%
$573,729
$573.7K
Cap Rate 9%
$446,233
$446.2K
Market Conditions
NOI Build-Up for 5,301 SF
Gross rent
$82.7K $15.60/SF
− Vacancy
−$9.7K −$1.83/SF
EGI
$73.0K $13.77/SF
− OpEx
−$32.9K −$6.20/SF
NOI
$40.2K $7.58/SF
Area
Orange County, NC
Vacancy
11.70%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$803,220
Cap Rate 7%
$573,729
Cap Rate 9%
$446,233
Alternative Uses
Best Use
Apartment 5plus
$573.7K
$502.0K – $669.4K
NOI $40,161 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,823 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 27516, NC
45,841
Population
18,684
Households
2.5
Avg Household Size
35
Median Age
72%
College-Educated
96%
High-School Grad
93.5 sq mi
ZIP Area
490
Density / Sq Mi
$100,788
Median Household Income
$48,638
Median Earnings
$1,446
Median Rent
$508,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1978 with central air and wooded surroundings.
Where is this multifamily property located?
The property is located at 543-549 Cedar Lake Road Chapel Hill, NC.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: R‑2 zoning; 5,301 property size; Built in 1978
