R-2 Multifamily
New
For Sale
$1,295,000
543-549 Cedar Lake Road, Chapel Hill, NC 27516
Built in 1978 with central air and wooded surroundings.
Property Size5,301 SF
Price / SF$244.29
Days on Market2
Property Features for 543-549 Cedar Lake Road
General Information
Standard status
Active
Size
5,301 SF
Total Parking Spaces
12
Property subtype
Residential Income
Zoning
R-2
Lease Term
12 Months
Taxes and HOA fees
Annual Taxes
$6,268
Amenities
Central Air
Central, Forced Air
Dishwasher, Electric Range, Free-Standing Electric Range, Free-Standing Range, Free-Standing Refrigerator, Range, Range Hood, Refrigerator, Washer/Dryer, Water Heater
Eat-in Kitchen, Granite Counters, High Speed Internet
Forest, Trees/Woods
Additional Parking, Asphalt, Driveway, Gravel, Parking Pad
Rain Gutters
Building Details
Building Size
5,301 SF
Year Built
1978
Buildings
3
Stories
1
Listing Agency:
LONG & FOSTER REAL ESTATE INC
(919) 606-8511
Listed By:
Chad Lloyd · License #243094
(919) 606-8511
Source:
Evrealestate
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 9:44AM
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
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 = 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
$40,161
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
3.10%
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%
$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
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
$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 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%
$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.
Property Analytics
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
