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    610 Jones Ferry Rd Carrboro, NC 27510

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    610 Jones Ferry Rd Carrboro, NC 27510

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    • Residential offices
    For Sale
    $1,750,000
    View Listing →
    Sale or Lease: Office Condo just off NC-54 For Sale
    $1,750,000
    10,970 SF

    Sale or Lease: Office Condo just off NC-54

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

    610 Jones Ferry Rd, Carrboro, NC 27510
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Carrboro Family Dentistry / Dental Office
    • Lizzette Potthoff / Foster Care Service / Social Service Agency
    • Teachman Jo Otr L / Physician
    • Carrboro Family Medicine Center / Medical Clinic
    • International Society on Thrombosis and Haemostasis / Charitable Organization / Social Service Agency

    Property Details for 610 Jones Ferry Rd

    Year built
    2001
    Property type
    Residential offices
    Property subtype
    Office properties & Spaces

    Description

    Willow Creek Professional Center is conveniently located on Jones Ferry Road just off of NC Hwy 54 offering easy access for employees and clients. The property is adjacent to Willo Creek Shopping Center featuring Food Lion, Walgreen’s Pharmacy, and restaurants. Carrboro, Chapel Hill, and UNC Chapel Hill are within a few minutes’ drive. Building features a common patio, common bathrooms, and a 45-space parking garage. Elevator, fire sprinkler system, and security systems are also installed. Available ±10,970 RSF first floor suite includes private bathrooms, delivery area with direct access to parking lot, and a breakroom. Layout includes lab/R&D space and flexible office configuration. Suite is subdividable with two entrances already in place.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Carrboro
    County
    State
    North Carolina
    Longitude
    -79.0796
    Latitude
    35.9083

    Comparable in this City

    • Value Estimation by Request
      40,985 SF

      610 Jones Ferry Rd

      Coworking space • 40,985 SF
      610 Jones Ferry Rd, Carrboro, NC 27510
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    • Value Estimation by Request
      9,710 SF

      610 Jones Ferry Rd

      Medical Office Space • 9,710 SF
      610 Jones Ferry Rd, Carrboro, NC 27510
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    • Value Estimation by Request
      3,500 SF

      610 Jones Ferry Rd

      Medical Office Space • 3,500 SF
      610 Jones Ferry Rd, Carrboro, NC 27510
      View Details
    • Value Estimation by Request
      1,193 SF

      610 Jones Fry Rd Ste, Unit 212

      CONDOMINIUM OFFICES • 1,193 SF
      610 Jones Fry Rd Ste, Carrboro, NC 27510-6113
      View Details
    • Value Estimation
      $6,210,000
      36,199 SF

      624 Jones Fry Rd

      OFFICE BUILDING • 36,199 SF
      624 Jones Fry Rd, Carrboro, NC 27510-2157
      View Details
    • Value Estimation
      $3,150,000
      18,362 SF

      101 Renee Lynn Ct

      OFFICE BUILDING • 18,362 SF
      101 Renee Lynn Ct, Carrboro, NC 27510-6511
      View Details

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    Carrboro, NC 27510
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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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