Two-Level Office
605 Eastowne Drive, Chapel Hill, NC 27514
For Sale
Contact for pricing
A loading dock, freight elevator, and shipping area complement the building’s office and work areas.
Property Size12,778 SF
Lot Size1.00 Acre
Price / SF$318.91
Days on Market47
Property Features for 605 Eastowne Drive
General Information
Standard status
Size
Total Parking Spaces
Elevators
Lot size
Property subtype
Site & Location
Highway Access
Road Access
Utilities to Site
Additional Details
Condition
Asking Price
Property Use
Amenities
multiple zoned HVAC systems
solar array
EV charging
fiber optic internet
loading dock
shipping and receiving area
Building Details
Buildings
Stories
Building Size
Listing Agency:
VRC Limited
Listed By:
Randolph Voller · License NC #144749
(919) 949-1274
Source:
Crexi
Added: Sep 25
Changed: Nov 8
Last Checked: Nov 10 at 8:05AM
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 VRC Limited
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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 two-level office property contains 12,778 gross square feet on a one-acre corner parcel. Its layout includes private offices, conference rooms, open and collaborative work areas, and storage. The approximately 4,158 GSF lower level adds a loading dock with leveler, shipping and receiving space, a freight elevator, offices, and additional flex and storage areas. The building has multiple zoned HVAC systems, an approximately 60 kW solar array, EV charging, and access to Google Fiber, Spectrum Fiber, and AT&T Fiber. It was recently renovated and is available for occupancy.
The property has 36 parking spaces and access from both Eastowne Drive and Providence Road. I-40, UNC Hospitals, Duke Hospital, and UNC-Chapel Hill are minutes away. The Eastowne office and medical corridor provides the setting for this Chapel Hill property.
The property has 36 parking spaces and access from both Eastowne Drive and Providence Road. I-40, UNC Hospitals, Duke Hospital, and UNC-Chapel Hill are minutes away. The Eastowne office and medical corridor provides the setting for this Chapel Hill property.
Key Highlights
- 12,778 gross square feet on a one‑acre corner parcel
- Two‑level building with an approximately 4,158 GSF lower level
- Lower level includes a loading dock and leveler, freight elevator, and shipping and receiving area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$197,343
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,946,860
$3.9M
Cap Rate 7%
$2,819,186
$2.8M
Cap Rate 9%
$2,192,700
$2.2M
Market Conditions
NOI Build-Up for 12,778 SF
Gross rent
$318.9K $24.96/SF
− Vacancy
−$55.8K −$4.37/SF
EGI
$263.1K $20.59/SF
− OpEx
−$65.8K −$5.15/SF
NOI
$197.3K $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%
$3,946,860
Cap Rate 7%
$2,819,186
Cap Rate 9%
$2,192,700
Alternative Uses
Best Use
Office B
$2.82M
$2.47M – $3.29M
NOI $197,343 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.13M
$3.61M – $4.81M
NOI $288,831 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,034
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - A loading dock, freight elevator, and shipping area complement the building’s office and work areas.
Where is this office building located?
The property is located at 605 Eastowne Drive Chapel Hill, NC.
What is the asking price?
The asking price for this property is $4,075,000.
What are key features of this property?
This property features: 12,778 gross square feet on a one‑acre corner parcel; Two‑level building with an approximately 4,158 GSF lower level; Lower level includes a loading dock and leveler, freight elevator, and shipping and receiving area
