Building Details

Year Built 2001

Buildings 1

Stories 2

Units 1

Listed By: David Divine Show Phone

Added: Jan 10, 2025 Changed: Mar 16

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Investment Insights

Based on property information with market context.

Located in Carrboro, North Carolina, this office condominium offers approximately 10,970 square feet of space within the Willow Creek Professional Center. The property is situated on Jones Ferry Road, near NC Highway 54, providing accessibility for employees and clients. The location is near the Willow Creek Shopping Center, which includes a Food Lion, Walgreens, and various restaurants. Carrboro, Chapel Hill, and the University of North Carolina at Chapel Hill are within a short drive. The building features a shared patio, common restrooms, and a 45-space parking garage. Modern amenities include an elevator, a fire sprinkler system, and security systems. The first-floor suite includes private bathrooms, a dedicated delivery area with direct access to the parking lot, and a breakroom. The layout is adaptable, incorporating lab/R&D space and a flexible office configuration, making it suitable for a variety of uses. The suite is subdividable and features two existing entrances. The property sits on a 0.94-acre lot.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$133,286

Cap Rate

7.62%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,665,720 $2.7M

Cap Rate 7%

$1,904,086 $1.9M

Cap Rate 9%

$1,480,956 $1.5M

Market Conditions

NOI Build-Up for 10,970 SF

Gross rent

$237.0K $21.60/SF

− Vacancy

−$23.7K −$2.16/SF

EGI

$213.3K $19.44/SF

− OpEx

−$80.0K −$7.29/SF

NOI

$133.3K $12.15/SF

Area

Orange County, NC

Vacancy

10.00%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,665,720

Cap Rate 7%

$1,904,086

Cap Rate 9%

$1,480,956

Alternative Uses

Best Use

Office B

$2.42M

$2.12M – $2.82M (±1% cap)

NOI $169,421 @ 7.0% cap · market cap 9.68%

Second Best

Mixed Use

$1.90M

$1.67M – $2.22M (±1% cap)

NOI $133,286 @ 7.0% cap · market cap 7.62%

Theoretical Best

Office A

$3.54M

$3.10M – $4.13M (±1% cap)

NOI $247,963 @ 7.0% cap · market cap 14.17%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Carrboro Family Dentistry Dental Office Lizzette Potthoff Foster Care Service Teachman Jo Otr ... Physician Carrboro Family Medicine ... Medical Clinic International Society on Thrombosis ... Charitable Organization

Suggested Use

Top Pick Real Estate Agency Law Firm Dental Office Nail Salon Electrical Service Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,148

Businesses Nearby

Explore this area Business Placement

Demographics for 27510, NC

14,801

Population

7,671

Households

1.9

Avg Household Size

32

Median Age

65%

College-Educated

94%

High-School Grad

3.2 sq mi

ZIP Area

4,625

Density / Sq Mi

$62,737

Median Household Income

$40,835

Median Earnings

$1,360

Median Rent

$439,200

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Residential office - 10,970 SF Office/Medical Condo Willow Creek Professional Center

Where is this residential office located?

The property is located at 610 Jones Ferry Rd Carrboro, NC.

What is the asking price?

The asking price for this property is $1,750,000.