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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1000 Corporate Dr Hillsborough, NC 27278

    • Office buildings
    • 11,613 SF
    • 1.44 lot acres
    For Lease
    View listing
    $24 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2384623
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Rick Ashby - State Farm Insurance Agent / Insurance Agency / Auto Insurance Agency
    • Holistic Health & Medicine / Holistic Medicine Practitioner
    • Dr. Marcia Morgenlander / Pediatrician
    • Joyful Journey Counseling & Consulting, PLLC. / Psychotherapist
    • Jeanne Amerine / Nurse Practitioner

    Property Details for 1000 Corporate Dr

    Year built
    1998
    Lot size
    1.44 lot acres
    Property size
    11,613 SF
    Zone code
    HI
    Property type
    Office buildings
    APN
    9874-61-6773
    APU
    9874616773

    Description

    This exceptional 1,140 square foot executive office suite is situated within a 6,290 square foot professional building at 1000 Corporate Drive, Hillsborough, NC 27278. The suite is immediately available and boasts a desirable location, offering easy access to major transportation arteries including I-85/I-40 and US 70, ensuring convenient commutes for employees and clients. The property is zoned for high-intensity commercial use (APN: 9874616773), reflecting its suitability for a variety of professional businesses. Within the suite, you'll find a well-designed layout incorporating a spacious reception area, a fully equipped kitchenette, and a dedicated conference room, ideal for meetings and client presentations. Ample parking is provided for tenants and visitors. The building itself is part of a well-maintained complex, reflecting a professional and welcoming environment. This prime location offers quick access to downtown Hillsborough, combining the benefits of a suburban setting with the convenience of a nearby urban center. The property is located in Orange County, North Carolina. This is a multi-tenant building with a total of 6,290 square feet. This is an excellent opportunity for a business seeking a modern, functional, and conveniently located office space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,216,000
      Market price range: $1.22M - $3.17M

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsborough
    County
    Orange
    State
    North Carolina
    Longitude
    -79.0785
    Latitude
    36.0629
    CBSA code
    20500
    CBSA name
    DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $21,932
    $190,100
    $1,115,500
    $1,305,600
    -
    $190,100
    $1,115,500
    $1,305,600

    Comparable in this City

    • Value Estimation
      $2,420,000
      11,320 SF

      209 Millstone Dr

      OFFICE BUILDING • 11,320 SF
      209 Millstone Dr, Hillsborough, NC 27278-8776
      View Details
    • Value Estimation
      $1,850,000
      8,548 SF

      1000 Us Hwy 70th E

      OFFICE BUILDING • 8,548 SF
      1000 Us Hwy 70th E, Hillsborough, NC 27278-8441
      View Details
    • Value Estimation by Request
      1,092 SF

      200 Churton St

      OFFICE BUILDING • 1,092 SF
      200 Churton St, Hillsborough, NC 27278-2540
      View Details
    • Value Estimation by Request
      1,344 SF

      340 Churton St

      OFFICE BUILDING • 1,344 SF
      340 Churton St, Hillsborough, NC 27278-2509
      View Details
    • Value Estimation
      $1,540,000
      9,180 SF

      402 Millstone Dr

      OFFICE BUILDING • 9,180 SF
      402 Millstone Dr, Hillsborough, NC 27278-8778
      View Details
    • Value Estimation
      $1,020,000
      4,692 SF

      110 Millstone Dr

      OFFICE BUILDING • 4,692 SF
      110 Millstone Dr, Hillsborough, NC 27278-8775
      View Details

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    Similar Nearby for Lease

    • $24 SF/Yr
      6,290 SF

      Hillsborough Executive Office Suite

      1,140 SF Office Space Available Now
      1000 Corporate Dr, Hillsborough, NC 27278
      View Details
    • Contact for pricing
      1 SF

      Commercial Land Near I-85

      1.40-acre parcel suitable for commercial, retail, or food establishment.
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      View Details
    • Contact for pricing
      60,984 SF

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      1.4-Acre Commercial Lot, I-85 Access
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      View Details
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    1000 Corporate Dr
    Hillsborough, NC 27278
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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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