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Property profile & analytics
OFF-MARKET
Estimated value
$7,930,000
Grocery and convenience stores
157 Chatham Downs Dr, Chapel Hill, NC 27517-6110
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-0616250
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
48,736 SF
Lot
28.78 ac (1,253,744 SF)
Zoning code
CU-B-1
APN
18906
UPID
US53-0616250
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.74M
Comparable Approach
Comparable
$7.12M
Blend (final)
Blend
$7.93M
Owner & transaction history
Aric Chatham LLC · 1 yrs held
Aric Chatham LLC
since 2024
6 recorded transactions
Zoning & alternative use
CU-B-1 · Chapel Hill, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$9.6M
+96.0%
Commercial (general)
$6.9M
+41.0%
Office building
$6.9M
+40.4%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$9,465,000
6.5%
$8,740,000
7%
$8,115,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,890,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$9,580,000
Change: +96% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,895,000
Change: +41% · Conversion: Easy
OFFICE BUILDING
$6,865,000
Change: +40% · Conversion: Easy
AUTO REPAIR, GARAGE
$5,270,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$7.93M
Range $7.14M – $8.72M · ±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
$163 / 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
$66,589
Tax year 2023
Assessed value
$8,190,483
Assessed 2023
Previous assessed
$8,190,483
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$2,658,892
Assessed improvement
$5,531,591
Land market value
$2,658,892
Improvement market value
$5,531,591
Total market value
$8,190,483
Applied tax rate
107.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
YES
Buildings
3
Stories
1
Total area
48,736 SF
Lot
28.78 ac (1,253,744 SF)
Zoning code
CU-B-1
APN
18906
UPID
US53-0616250
Jurisdiction
CHATHAM
Zoning & alternative use
CU-B-1 · Chapel Hill, NC
Zoning CU-B-1 · permitted uses
CU-B-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
RETAIL STORES Current
Est. value
$4.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.6M
COMMERCIAL (GENERAL)
Est. value
$6.9M
OFFICE BUILDING
Est. value
$6.9M
AUTO REPAIR, GARAGE
Est. value
$5.3M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2006
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
PACKAGE
Cooling
Yes
Stories
1
Buildings
3
Lot
28.78 ac
Current owner
From public records · entity-resolved
Aric Chatham LLC
Entity
Free & Clear · 1 yrs held
Mailing address
610 E MOREHEAD ST STE #100, CHARLOTTE, NC 28202-2699
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2024
—
Aric Chatham LLC
Mic Chatham LLC
Special Warranty Deed
—
Aug 27, 2014
—
Mic Chatham LLC
Chatham Retail 1 LLC
Quit Claim Deed
related
—
Aug 27, 2014
$12,400,000
Mic Chatham LLC
Chatham Retail 1 LLC
Grant Deed
related
—
Mar 30, 2007
—
Lat Pruser & Associates INC
Itac 92 LLC
Warranty Deed
related
—
Dec 14, 2005
—
Chatham Retail 1 LLC
Itac 92 LLC
Grant Deed
related
—
Sep 2, 2004
$497,500
Itac 92 LLC
Sneeden Holding Co INC
Grant Deed
—
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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