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Property profile & analytics
OFF-MARKET
Estimated value
$1,300,000
Office buildings
1721 Franklin St, Chapel Hill, NC 27514-5854
Entity Owned
1-yr Hold
Free & Clear
Property ID
US53-2453085
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1962
Total area
2,456 SF
Lot
4.26 ac (185,566 SF)
Zoning code
OI-2/R-4
APN
9799-26-1213
UPID
US53-2453085
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
-
Chapel Hill Dental Group Dental Office
-
Jeffrey R. Kennedy, DDS Dental Office
-
E. Leland Webb, DDS, MS Dental Office
-
Home Team Real Estate Agency
-
Carolina Skin Clinic Medical Clinic Skin Care Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.58M
Blend (final)
Blend
$1.30M
Owner & transaction history
House Harris Holdings LLC · 1 yrs held
House Harris Holdings LLC
since 2024
Last sale
$1.3M
6 recorded transactions
Zoning & alternative use
OI-2/R-4 · Chapel Hill, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.1M
+111.6%
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
$1,300,000
ML approach
$1,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$970,000
Current use
COMMERCIAL (GENERAL)
$2,055,000
Change: +112% · Conversion: Easy
Blend value · Realmo final
$1.30M
Range $1.17M – $1.43M · ±10% · vs last sale $1.30M (Dec 16 2024)
Last sale anchor
$1.30M
Dec 16 2024
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
$529 / 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
$15,827
Tax year 2023
Assessed value
$944,400
Assessed 2023
Previous assessed
$944,400
+0.0% YoY
Effective rate
1.68%
On assessed value
Assessed land
$852,000
Assessed improvement
$92,400
Land market value
$852,000
Improvement market value
$92,400
Total market value
$944,400
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1962
Heating
YES
Buildings
2
Stories
1
Total area
2,456 SF
Lot
4.26 ac (185,566 SF)
Zoning code
OI-2/R-4
APN
9799-26-1213
UPID
US53-2453085
Jurisdiction
ORANGE
Zoning & alternative use
OI-2/R-4 · Chapel Hill, NC
Zoning OI-2/R-4 · permitted uses
OI-2/R-4 · 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
OFFICE BUILDING Current
Est. value
$970,000
COMMERCIAL (GENERAL)
Est. value
$2.1M
OFFICE BUILDING Current
COMMERCIAL (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
1962
Heating
YES
Stories
1
Buildings
2
Lot
4.26 ac
Current owner
From public records · entity-resolved
House Harris Holdings LLC
Entity
Free & Clear · 1 yrs held
Mailing address
199 CLIFFDALE RD, CHAPEL HILL, NC 27516-4148
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
Dec 16, 2024
—
House Harris Holdings LLC
Elizabeth Lee Mcclamroch Oliver
Quitclaim Deed
related
—
Dec 17, 2021
$1,300,000
House Harris Holdings LLC
Jef Beck LLC
Warranty Deed
$1,200,000 · Southern Bank & Trust Co
Jan 13, 2017
—
Jeff Beck LLC
—
Deed
related
$502,500 · First Citizens Bank & Trust Co
Oct 23, 2012
$805,000
Jeff Beck LLC
Mcclamroch Properties LLC
Warranty Deed
$644,000 · Pnc Bank
Mar 21, 2012
—
Mcclamroch Properties LLC
Mcclamroch,elizabeth P & Roland P JR
Quit Claim Deed
related
—
Aug 25, 2011
—
Mcclamroch Properties LLC
Mcclamroch,elizabeth P & Roland P JR
Quit Claim Deed
related
—
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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