188 Cherokee Dr, Chapel Hill, NC 27517
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.