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    188 Cherokee Dr Chapel Hill, NC 27517

    Sponsored
    For Sale
    $100,000

    1.15-acre commercial lot, flexible build options.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    398
    This exceptional 1.15-acre lot presents a unique opportunity in Chapel Hill, North Carolina. Located at 188 Cherokee Drive, in Chatham County (zip code 27517), this property offers unparalleled flexibility for development. Zoned R-1, the land allows for a variety of uses, including commercial ventures, farming, or recreational pursuits. The property boasts an excellent location, tucked away on a short private road off Old Lystra Road, providing a peaceful setting while remaining conveniently close to UNC, Chapel Hill, Chatham Park, RDU, and RTP. Buyers enjoy the freedom of unrestricted use, with no covenants or HOA restrictions. This translates to a wide range of building possibilities, from modular homes and log cabins to hobby garages – all are permitted. The property's convenient location and flexible building options make it an ideal investment for those seeking a versatile and desirable piece of land in a thriving area. Note that an additional lot is also available. The asking price for this 1.15-acre parcel is $100,000. Latitude and longitude coordinates are 35.8510928, -79.0723785 respectively.

    Property Features for 188 Cherokee Dr

    General Information

    Property type
    Farms
    Lot Size
    50,094 SF

    HighLights

    • 1.15‑acre lot in Chapel Hill, NC (27517) for $100,000.
    • Located on Cherokee Drive, Chatham County, offering convenient access to UNC, RDU, and RTP.
    • R‑1 zoning allows for diverse uses including commercial, farming, and recreational development.
    • No HOA or covenants, providing unrestricted building options.
    • Additional lot available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Hair Salon Building Supply Auto Repair Shop Pharmacy Gym & Fitness Wholesale Shop Auto Parts Store Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chapel Hill
    County
    Chatham
    State
    North Carolina
    Longitude
    -79.0723785
    Latitude
    35.8510928

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    FAQs

    What type of property is this?
    Farm - 1.15-acre commercial lot, flexible build options.
    Where is this farm located?
    The property is located at 188 Cherokee Dr Chapel Hill, NC.
    What is the asking price?
    The asking price for this property is $100,000.
    What are key features of this property?
    This property features: 1.15-acre lot in Chapel Hill, NC (27517) for $100,000.; Located on Cherokee Drive, Chatham County, offering convenient access to UNC, RDU, and RTP.; R-1 zoning allows for diverse uses including commercial, farming, and recreational development.
    Request Owner's contact information
    188 Cherokee Dr Chapel Hill, NC 27517
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    Chapel Hill, NC 27517
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    188 Cherokee Dr Chapel Hill, NC 27517
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