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    140 Franklin St Chapel Hill, NC 27516-2536
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    Property profile & analytics

    140 Franklin St, Chapel Hill, NC 27516-2536

    View on Map
    • Commercial real estate
    • 25,019 SF
    Off-Market
    Property ID
    US53-4750186
    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
    $3,395,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Plaza at 140 West Franklin Street / Park
    • Spicy 9 Sushi Bar & Asian Restaurant / Restaurant
    • 1922 / Cafe & Coffee Shop
    • Que Chula Craft Tacos & Tequila Bar / Restaurant
    • Old Chicago / Restaurant

    Property Details for 140 Franklin St

    Year built
    2012
    Property type
    Commercial real estate
    APN
    9788-27-8230.149L999
    APU
    9788278230149L999

    Description

    This exceptional 6,800 square foot commercial space, located at 140 West Franklin Street, Suite 190, in Chapel Hill, North Carolina, presents a rare opportunity. Situated within a larger building totaling 365,864 square feet, this second-generation restaurant space boasts a unique indoor-outdoor bar and expansive outdoor areas. Built in 2013, the property sits on 1.74 acres of land (APN: 9788-27-8230.149) and is ideally positioned on Franklin Street, a vibrant area known for its high foot traffic. The space benefits from its proximity to numerous hotels and over 1,000 multi-family residential units, ensuring a strong customer base. Utilities are the tenant's responsibility. The property is categorized as retail and restaurant, with multiple tenancy options available. This turnkey space includes top-of-the-line equipment, making it an ideal location for a variety of businesses. The address is 140 W Franklin St, Chapel Hill, NC 27516, with a cross street of Church Street. This is a truly remarkable opportunity to establish a thriving business in a highly desirable location within Orange County. The vacant space is 6,800 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,065,000
      6.5%
      $4,675,000
      7%
      $4,345,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,642,000
      Market price range: $3.67M - $9.55M

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

    Location Insight

    • Map
    • Local Demand
    City
    Chapel Hill
    County
    Orange
    State
    North Carolina
    Longitude
    -79.0563
    Latitude
    35.9128
    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
    $93,429
    $0.00
    $5,595,800
    $5,595,800
    -
    $0.00
    $5,595,800
    $5,595,800

    Comparable in this City

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      6,585 SF

      108 Franklin St

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    • Value Estimation
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      3,432 SF

      409 Franklin St

      COMMERCIAL (GENERAL)
      409 Franklin St, Chapel Hill, NC 27516-2314
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    • Value Estimation
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      607 Franklin St Sta, Unit A

      COMMERCIAL (GENERAL)
      607 Franklin St Sta, Chapel Hill, NC 27516-2316
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    • Value Estimation
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      6,077 SF

      100 Vlg Ctr Dr, Unit 1001

      COMMERCIAL (GENERAL)
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      302 Pittsboro St

      COMMERCIAL (GENERAL)
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    • Value Estimation by Request
      1,452 SF

      505 Rosemary St

      COMMERCIAL (GENERAL)
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    Similar Nearby for Lease

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      Retail Space For Lease

      Retail space available for lease in Chapel Hill, NC.
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      View Details
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      Retail Space at Prime Location

      Retail space available at the intersection of W. Franklin and S. Graham.
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      Creative Office Space in Chapel Hill

      Class A creative office space near UNC campus.
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      Chapel Hill Office Space Available

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      Retail Space in Chapel Hill

      Retail property available for lease in Chapel Hill, North Carolina.
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      Retail Space Near UNC Campus

      Dynamic mixed-use project near UNC's campus on Franklin Street.
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      View Details
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    Chapel Hill, NC 27516-2536
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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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