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Property profile & analytics
OFF-MARKET
Estimated value
$1,555,000
Hotels
1505 Franklin St, Chapel Hill, NC 27514-2887
Entity Owned
16-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2294587
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1987
Total area
24,113 SF
Lot
2.44 ac (106,286 SF)
Zoning code
CC/R-1
APN
9789-93-7400
UPID
US53-2294587
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
1505 East Franklin Street Parking Parking Lot & Garage
-
Chapel Hill HGH Peptides Testosterone medical clinic Medical Clinic
-
TR Hormone Replacement Therapy Studio Medical Clinic
-
The Siena Hotel, Autograph Collection Hotel & Motel
-
Whitco Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.26M
CAP Approach
CAP
$1.86M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.56M
Owner & transaction history
Aanika Hotels LLC · 16 yrs held
Aanika Hotels LLC
since 2009
5 recorded transactions
Zoning & alternative use
CC/R-1 · Chapel Hill, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Chapel Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chapel Hill submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$1,255,000
CAP Approach
CAP Return
Estimation
6%
$2,015,000
6.5%
$1,860,000
7%
$1,730,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,925,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$1.56M
Range $1.40M – $1.71M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$64 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$145,511
Tax year 2023
Assessed value
$8,911,800
Assessed 2023
Previous assessed
$8,836,200
+0.9% YoY
Effective rate
1.63%
On assessed value
Assessed land
$1,514,000
Assessed improvement
$7,397,800
Land market value
$1,514,000
Improvement market value
$7,397,800
Total market value
$8,911,800
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1987
Heating
YES
Buildings
3
Stories
1
Total area
24,113 SF
Lot
2.44 ac (106,286 SF)
Zoning code
CC/R-1
APN
9789-93-7400
UPID
US53-2294587
Jurisdiction
ORANGE
Zoning & alternative use
CC/R-1 · Chapel Hill, NC
Zoning CC/R-1 · permitted uses
CC/R-1 · Chapel Hill, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chapel Hill. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Heating
YES
Stories
1
Buildings
3
Lot
2.44 ac
Current owner
From public records · entity-resolved
Aanika Hotels LLC
Entity
Mailing address
7930 SKYLAND RDG PKWY STE #200, RALEIGH, NC 27617-6815
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2019
—
Aanika Hotels LLC
—
Grant Deed
related
$16,500,000 · Wells Fargo Bk
Nov 14, 2016
—
Aanika Hotels LLC
—
Deed
related
$6,700,000 · Wells Fargo Bank NA
Nov 17, 2009
—
Aanika Hotels LLC
—
Deed Of Trust
related
$6,450,000 · Branch Banking & Trust Co
Jul 16, 2009
$6,305,000
Aanika Hotels LLC
Siena
Grant Deed
$7,000,000 · Govind & Madhu Chandak
—
—
Aanika Hotels LLC
—
Deed Of Trust
related
$10,000,000 · Branch Bk&tr
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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