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    1600 E Franklin St Chapel Hill, NC 27514

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    1600 E Franklin St Chapel Hill, NC 27514

    View on Map
    • Office buildings
    • 9,840 SF
    • 0.97 lot acres
    For Sale
    $2,300,000
    View Listing →
    Chapel Hill Office Building For Sale
    $2,300,000
    12,800 SF

    Chapel Hill Office Building

    Office building for sale in Chapel Hill, North Carolina.

    1600 E Franklin St, Chapel Hill, NC 27514
    View Listing
    Property ID
    US53-2268825
    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

    • Bryan Guarnieri, Howard Perry & Walston Realtor / Real Estate Agency
    • Tyler Priest Loan Officer with Towne Mortgage of the Carolinas / Loan Service / Bank
    • Dianne Gray REALTOR / Real Estate Agency
    • Keith E. Green / Real Estate Agency
    • Sandie Reed, Howard Perry & Walston Realtor / Real Estate Agency

    Property Details for 1600 E Franklin St

    Year built
    1985
    Lot size
    0.97 lot acres
    Property size
    9,840 SF
    Zone code
    R-5
    Property type
    Office buildings
    APN
    9799-04-8307
    APU
    9799048307

    Description

    This exceptional 7,801-square-foot executive office suite is available for lease at 1600 E. Franklin Street in Chapel Hill, North Carolina. Located in Orange County (APN 9799048307), this single-tenant space occupies the entire top floor of the building, offering abundant natural light and stunning treetop views. Previously occupied by a major tenant who has downsized to the lower floors, this space presents a unique opportunity for a business seeking a prominent location. The building offers convenient access via elevator or stairs. The property boasts a highly desirable location on Franklin Street, within walking distance of Whole Foods Market and numerous other retail establishments, including East Gate. All windows are equipped with shades, effectively managing direct sunlight. This turnkey office space is ready for immediate occupancy and provides a sophisticated and functional environment for any executive team. The property is situated in Chapel Hill, NC, zip code 27514. The building's prime location and ample square footage make it an ideal choice for businesses seeking a prestigious and convenient address in a thriving community. This is a single-tenant space, offering complete privacy and control.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,700,000
      6.5%
      $2,495,000
      7%
      $2,315,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $4,644,000
      Market price range: $2.08M - $4.99M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,890,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chapel Hill
    County
    Orange
    State
    North Carolina
    Longitude
    -79.0308
    Latitude
    35.9329
    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
    $40,506
    $1,061,100
    $1,400,900
    $2,462,000
    -
    $1,061,100
    $1,400,900
    $2,462,000

    Comparable in this City

    • Value Estimation
      $1,080,000
      2,543 SF

      210 Columbia St

      OFFICE BUILDING • 2,543 SF
      210 Columbia St, Chapel Hill, NC 27514-3501
      View Details
    • Value Estimation
      $2,425,000
      6,240 SF

      151 Rosemary St

      OFFICE BUILDING • 6,240 SF
      151 Rosemary St, Chapel Hill, NC 27514-3539
      View Details
    • Value Estimation
      $520,000
      907 SF

      105 Conner Dr, Unit 1-1300

      OFFICE BUILDING • 907 SF
      105 Conner Dr, Chapel Hill, NC 27514-7125
      View Details
    • Value Estimation by Request
      928 SF

      104 Estes Dr Ste, Unit 201

      OFFICE BUILDING • 928 SF
      104 Estes Dr Ste, Chapel Hill, NC 27514-2866
      View Details
    • Value Estimation by Request
      1,802 SF

      180 Providence Rd Ste, Unit 3

      OFFICE BUILDING • 1,802 SF
      180 Providence Rd Ste, Chapel Hill, NC 27514-2206
      View Details
    • Value Estimation by Request
      1,207 SF

      180 Providence Rd Ste, Unit 5

      OFFICE BUILDING • 1,207 SF
      180 Providence Rd Ste, Chapel Hill, NC 27514-2206
      View Details

    Similar Nearby for Sale

    • $2,900,000
      14,739 SF

      Chapel Hill Office Building For Sale

      Class B office building with flexible space in Chapel Hill.
      300 Silver Cedar Ct, Chapel Hill, NC 27514
      View Details
    • $2,900,000
      14,739 SF

      Chapel Hill Office Building

      Office building for sale in Chapel Hill, North Carolina.
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      View Details
    • $975,000
      0.46 Acres

      Chapel Hill Office Development Site

      Highly visible site with approved plans for office building.
      1751 Dobbins Dr, Chapel Hill, NC 27514
      View Details
    • Contact for pricing
      12,800 SF

      Chapel Hill Office Building

      Office building for sale in Chapel Hill, North Carolina.
      1600 E Franklin St, Chapel Hill, NC 27514
      View Details
    • Contact for pricing
      4,716 SF

      Modern Office Condo Near UNC

      Office condo near I-40, downtown Chapel Hill, and UNC campus.
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      Chapel Hill Freestanding Building

      Two-story building on 0.66 acres in established commercial corridor.
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    Similar Nearby for Lease

    • $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
    • New
      $27,123
      12,090 SF

      Renovated Office Space For Lease

      Modern office building with unique logistical advantages and cost-saving features.
      605 Eastowne Dr, Chapel Hill, NC 27514
      View Details
    • $25 SF/Yr
      15,325 SF

      Chapel Hill Office Space Available

      Office space for rent in a central Chapel Hill location.
      1512 E Franklin St, Chapel Hill, NC 27514
      View Details
    • $26 SF/Yr
      2,496 SF

      Class A Office Space Available

      Class A office space in Orange County for rent.
      55 Vilcom Center 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
    View Listing
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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.

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    1600 E Franklin St, Chapel Hill, NC, 27514

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