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    Property profile & analytics

    101 Erwin Rd Chapel Hill, NC 27514-6925

    • Hotels
    • 7,898 SF
    • 11.22 lot acres
    OFF-MARKET
    Value Estimations
    $1,155,000
    Show details
    Cap Rate Potential
    3.4%
    Hotels
    Location Intelligence
    Property ID
    US53-2383907
    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

    • Residence Inn Chapel Hill / Hotel / Extended Stay Hotel

    Property Details for 101 Erwin Rd

    Year built
    2006
    Lot size
    11.22 lot acres
    Property size
    7,898 SF
    Zone code
    R2
    Property type
    Hotels
    Property subtype
    Motels
    APN
    9799-48-0252
    APU
    9799480252

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $1,155,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Chapel Hill
    County
    Orange
    State
    North Carolina
    Longitude
    -79.0202
    Latitude
    35.9435
    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
    $205,035
    $2,777,700
    $9,746,200
    $12,523,900
    -
    $2,777,700
    $9,746,200
    $12,523,900

    Comparable in this City

    • Value Estimation
      $1,295,000
      24,113 SF

      1505 Franklin St

      HOTEL/MOTEL • 24,113 SF
      1505 Franklin St, Chapel Hill, NC 27514-2887
      View Details
    • Value Estimation by Request
      112,925 SF

      1129 Weaver Dairy Road Ext

      Community centers • 112,925 SF
      1129 Weaver Dairy Road Ext, Chapel Hill, NC 27514
      View Details
    • Value Estimation by Request
      1.20 Acres

      100 Meadowbrook Dr

      Land • 1.20 Acres
      100 Meadowbrook Dr, Chapel Hill, NC 27514
      View Details
    • Value Estimation by Request
      2.89 Acres

      Chapel Hill, NC 27514

      VACANT COMMERCIAL LAND • 2.89 Acres
      Chapel Hill, NC 27514
      View Details
    • Value Estimation
      $590,000
      2.13 Acres

      1660 Martin Luther King Jr Blvd Lot, Unit 1

      MOBILE HOME PARK, TRAILER PARK • 2.13 Acres
      1660 Martin Luther King Jr Blvd Lot, Chapel Hill, NC 27514-1606
      View Details
    • Value Estimation
      $750,000
      2,543 SF

      210 Columbia St

      OFFICE BUILDING • 2,543 SF
      210 Columbia St, Chapel Hill, NC 27514-3501
      View Details

    Similar Nearby for Sale

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      $137,500
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      0.46 acre homesite near Southpoint Mall and UNC Chapel Hill.
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      Chapel Hill Duplex For Sale

      Move-in ready duplex in Chapel Hill, convenient location.
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    • $2,280,000
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      Emmott Business Center Warehouses

      Northwest Houston industrial space for lease.
      100 Meadowbrook Dr, Chapel Hill, NC 27514
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    • $1,400,000
      0.28 Acres

      Chapel Hill Corner Lot Opportunity

      0.28-acre corner lot in desirable Chapel Hill historic district.
      401 E Rosemary St, Chapel Hill, NC 27514
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    • $1,450,000
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      Chapel Hill Redevelopment Opportunity

      Land near UNC campus with redevelopment potential for housing.
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    Similar Nearby for Lease

    • $20 SF/Yr
      3,350 SF

      Prime Orange County Executive Suites

      Modern Offices, Flexible Lease Options
      88 Vilcom Center Dr, Chapel Hill, NC 27514
      View Details
    • Contact for pricing
      3,000 SF

      Class A Office Space Available

      Prime office space near UNC, food, and retail.
      201 Sage Rd, Chapel Hill, NC 27514
      View Details
    • $1,500 /Mo

      Chapel Hill Duplex For Rent

      Duplex with energy-efficient windows, hardwood floors, and included appliances.
      5 Silver Cedar Ln, Chapel Hill, NC 27514
      View Details
    • $1,617 /Mo
      2,454 SF

      Centrally Located Office Condo

      Well-maintained office park near I-40, Franklin St, and UNC.
      920-B Martin Luther King Jr Blvd, Chapel Hill, NC 27514
      View Details
    • Contact for pricing
      2,357 SF

      Chapel Hill Executive Office Space

      Prime Office Suites Available Now
      101 Cosgrove Ave, Chapel Hill, NC 27514
      View Details
    • Contact for pricing
      112,925 SF

      Chapel Hill Retail Center Investment

      Prime Chapel Hill retail center, high traffic area.
      1129 Weaver Dairy Road Ext, Chapel Hill, NC 27514
      View Details

    Property Visit Statistics

    • Visits by month
      8.0k
    • Visitors by month
      2.3k
    • Avg Time on site
      423 min
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    101 Erwin Rd
    Chapel Hill, NC 27514-6925
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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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