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    Chapel Hl Blvd & I-40 Durham, NC 27707
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    Chapel Hl Blvd & I-40 Durham, NC 27707

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    • Retail properties & Spaces
    • 408,065 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Chapel Hl Blvd & I-40

    Property size
    408,065 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    New Hope Commons presents a unique opportunity within a thriving Durham County power center. This established retail property boasts a total of 408,065 square feet and offers a single, immediately available suite measuring 900 square feet. Ideal for a variety of commercial uses, the space is particularly well-suited for businesses catering to the affluent and highly educated demographics of Durham and Chapel Hill. The property's strategic location within New Hope Commons ensures high visibility and accessibility, benefiting from ample parking with 2,126 spaces available for customers and employees. The existing tenant mix within the larger center creates a synergistic environment, fostering a strong customer base. This 900 square foot space represents a chance to establish or expand a business in a prime location within a well-established and successful retail center. The property is categorized as a commercial space, previously used as a hair salon, offering flexibility for various commercial ventures. The substantial size of the overall center, coupled with the available parking, ensures a comfortable and convenient shopping experience for patrons. This is an exceptional opportunity to secure a retail space in a high-demand area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.9971
    Latitude
    35.9533

    Comparable in this City

    • Value Estimation by Request
      3,600 SF

      5318 New Hope Cmns Dr

      Individual retail properties • 3,600 SF
      5318 New Hope Cmns Dr, Durham, NC 27707
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    • Value Estimation by Request
      25,678 SF

      331 Main St

      Office Spaces • 25,678 SF
      331 Main St, Durham, NC 27707
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    • Value Estimation
      $3,480,000
      25,040 SF

      4144 Durham Chapel Hl Blvd

      RETAIL STORES (PERSONAL SERVICES) • 25,040 SF
      4144 Durham Chapel Hl Blvd, Durham, NC 27707-2503
      View Details
    • Value Estimation
      $16,010,000
      153,417 SF

      4005 Durham Chapel Hl Blvd

      RETAIL STORES (PERSONAL SERVICES) • 153,417 SF
      4005 Durham Chapel Hl Blvd, Durham, NC 27707-2516
      View Details
    • Value Estimation
      $1,685,000
      10,200 SF

      1811 Martin Luther King Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 10,200 SF
      1811 Martin Luther King Pkwy, Durham, NC 27707-3585
      View Details
    • Value Estimation
      $1,835,000
      10,252 SF

      1845 Martin Luther King Pkwy

      RETAIL STORES (PERSONAL SERVICES) • 10,252 SF
      1845 Martin Luther King Pkwy, Durham, NC 27707-3585
      View Details

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      Retail Space on Chapel Hill

      Retail property for lease with planned improvements in Durham.
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      Retail Space in Power Center

      Retail space available in a power center location.
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      Prime Retail Space For Lease

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      Retail Space with Dock Door

      Available retail space with immediate occupancy and a dock door.
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      Mixed-Use Redevelopment Opportunity

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    Durham, NC 27707
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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