Downtown Pittsboro Two-Level Office
For Sale
$1,300,000
72 Hillsboro St, Pittsboro, NC 27312
Two-level office building in Downtown Pittsboro with high visibility.
Property Size3,944 SF
Price / SF$329.61
Days on Market147
Property Features for 72 Hillsboro St
General Information
Standard status
Active
Size
3,944 SF
Building Details
Year Built
1998
Listing Agency:
Realty World Carolina Prop
Listed By:
Eric Andrews · License #177746
(919) 542-0523
Source:
Bonniestrowd
Added: Apr 15
Changed: Sep 8
Last Checked: Sep 8 at 7:27AM
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 Realty World Carolina Prop
Investment Insights
Based on property information with market context.
This two-level brick office building is located in Downtown Pittsboro, offering visibility along Hillsboro Street in a rapidly growing corridor. The layout supports various office configurations, including shared workspace concepts, with potential for common bathrooms and a breakroom. It is suitable for multiple tenants or a collaborative business environment. An adjoining parking lot provides on-site parking, with additional public options nearby. A recorded survey is available, and established easements ensure access and functionality. The property has strong rental potential for investors or owner-occupants seeking long-term growth. The property is not currently suited for restaurant use. The location is surrounded by Chatham Park, Disney/Asteria, rapidly growing Pittsboro development, and increasing foot traffic, presenting potential for establishing a presence in a dynamic downtown corridor. The property size is 3944 square feet.
Key Highlights
- Prime location in rapidly growing Downtown Pittsboro corridor with high visibility on Hillsboro Street
- Adjoining parking lot provides convenient on‑site parking
- Strong rental potential for investors or owner‑occupants
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
$60,911
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
4.69%
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%
$1,218,220
$1.2M
Cap Rate 7%
$870,157
$870.2K
Cap Rate 9%
$676,789
$676.8K
Market Conditions
NOI Build-Up for 3,944 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
$98.4K $24.96/SF
− Vacancy
−$17.2K −$4.37/SF
EGI
$81.2K $20.59/SF
− OpEx
−$20.3K −$5.15/SF
NOI
$60.9K $15.44/SF
Area
Chatham 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%
$1,218,220
Cap Rate 7%
$870,157
Cap Rate 9%
$676,789
Alternative Uses
Best Use
Office B
$870.2K
$761.4K – $1.02M
NOI $60,911 @ 7.0% cap · market cap 4.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,149 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
687
Businesses Nearby
Explore this area
Business Placement
Demographics for 27312, NC
21,572
Population
10,613
Households
2
Avg Household Size
51
Median Age
53%
College-Educated
95%
High-School Grad
170.9 sq mi
ZIP Area
126
Density / Sq Mi
$100,505
Median Household Income
$53,166
Median Earnings
$933
Median Rent
$423,200
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 building - Two-level office building in Downtown Pittsboro with high visibility.
Where is this office building located?
The property is located at 72 Hillsboro St Pittsboro, NC.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Prime location in rapidly growing Downtown Pittsboro corridor with high visibility on Hillsboro Street; Adjoining parking lot provides convenient on‑site parking; Strong rental potential for investors or owner‑occupants
