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    137 Franklin St Chapel Hill, NC 27514
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    Property profile & analytics

    137 Franklin St Chapel Hill, NC 27514

    View on Map
    • Neighborhood centers
    • 36,667 SF
    Off-Market
    Property ID
    US53-2412962
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • MoneyGram / Bank / Credit Union
    • Thoughtful Portable Toilets / Building Supply
    • Fanalytical / (Bike/Boat/Book/etc) Store / Corporate Office
    • The Central / Shopping Center & Mall
    • Coinhub Bitcoin ATM Teller / Atm

    Property Details for 137 Franklin St

    Property size
    36,667 SF
    Property type
    Neighborhood centers
    Property subtype
    Shopping centers

    Description

    This exceptional retail property, located at 137 E Franklin St in Chapel Hill, NC, offers 36,667 square feet of space in a vibrant strip center. Currently, two suites are available, providing flexible options for businesses seeking prime downtown location. One suite offers a minimum of 9,369 square feet, while the maximum contiguous space available is 19,085 square feet. The total vacant space is 19,085 square feet. This property boasts ample parking, a significant advantage in a bustling downtown area. Situated in the heart of Chapel Hill, this location provides unparalleled access to the University of North Carolina at Chapel Hill (UNC), and is surrounded by a thriving mix of retail shops, restaurants, and hotels. The property's address is 137 E Franklin St, Chapel Hill, NC 27514, in Orange County. This is an exceptional opportunity for businesses seeking high visibility and foot traffic in one of North Carolina's most desirable college towns. The property's convenient location and ample space make it ideal for a variety of retail uses. The property is easily accessible and offers a strong potential for return on investment.

    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
    Chapel Hill
    County
    Orange
    State
    North Carolina
    Longitude
    -79.0544862
    Latitude
    35.913954

    Comparable in this City

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      Chapel Hill Office Space

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      88 Vilcom Center Dr, Chapel Hill, NC 27514
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      3,000 SF

      Class A Office Space Available

      Prime office space near UNC, food, and retail.
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      East Rosemary Street Lab Space

      Lab space available for lease in Chapel Hill, North Carolina.
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    • $25 SF/Yr
      6,383 SF

      Chapel Hill Office Space Available

      Office space for lease in the heart of Chapel Hill.
      1516 E Franklin St, Chapel Hill, NC 27514
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    Similar Nearby for Lease

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      Premier Retail Center in Chapel Hill

      Retail center with excellent access in Chapel Hill, North Carolina.
      243 South Elliott Rd, Chapel Hill, NC 27514
      View Details
    • Contact for pricing

      Retail Space For Rent

      Retail space available for lease in Chapel Hill, North Carolina.
      201 S Estes Dr, Chapel Hill, NC 27514
      View Details
    • Contact for pricing

      Chapel Hill Office Space

      Office space available for lease in Chapel Hill, NC.
      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
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      29,625 SF

      East Rosemary Street Lab Space

      Lab space available for lease in Chapel Hill, North Carolina.
      150 E Rosemary St, Chapel Hill, NC 27514
      View Details
    • $25 SF/Yr
      6,383 SF

      Chapel Hill Office Space Available

      Office space for lease in the heart of Chapel Hill.
      1516 E Franklin St, Chapel Hill, NC 27514
      View Details

    Property Visit Statistics

    • Visits by month
      4.0k
    • Visitors by month
      3.3k
    • Avg Time on site
      18 min
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    Chapel Hill, NC 27514
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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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