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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Office Spaces
1829 Franklin St Ste 1200j Chapel Hill, NC 27514-5804
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US53-2390660
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1986
Total area
625 SF
Lot
1 ac (43,560 SF)
Zoning code
OI-2
APN
9799-37-1243.017
UPID
US53-2390660
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
-
Dr. Zhenjiang Chen, MD Alternative Medicine Practice Acupuncture
-
Clinical Psychology Practice Physician Medical Clinic
-
Franklin Square Clinical Associates: Kemper Meg PHD Physician Medical Clinic
-
Gunn William a PhD Physician Medical Clinic
-
Sara A. Michelson, Psy.D Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$840k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$840k
Owner & transaction history
Sukho Thai Real Estate Property LLC · 1 yrs held
Sukho Thai Real Estate Property LLC
since 2024
Last sale
$840,000
7 recorded transactions
Zoning & alternative use
OI-2 · Chapel Hill, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The Office or Institutional-2 (OI-2) district is intended to provide for medium intensity office and institutional development
Zone name
Office And Institutional 2
General category
CIVIC_INSTITUTIONAL
Zone area
872.03 ac
Source
Realmo
Top alternative use upside
Commercial (general)
$520,000
+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
$840,000
ML approach
$840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$520,000
Change: +112% · Conversion: Easy
Blend value · Realmo final
$840k
Range $756k – $924k · ±10% · vs last sale $840k (Nov 26 2024)
Last sale anchor
$840k
Nov 26 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
$1,344 / 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
$1,539
Tax year 2023
Assessed value
$83,100
Assessed 2023
Previous assessed
$83,100
+0.0% YoY
Effective rate
1.85%
On assessed value
Assessed improvement
$83,100
Improvement market value
$83,100
Total market value
$83,100
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1986
Heating
YES
Stories
1
Total area
625 SF
Lot
1 ac (43,560 SF)
Zoning code
OI-2
APN
9799-37-1243.017
UPID
US53-2390660
Jurisdiction
ORANGE
Zoning & alternative use
OI-2 · Chapel Hill, NCZoning OI-2 · permitted uses
OI-2 · Chapel Hill, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The Office or Institutional-2 (OI-2) district is intended to provide for medium intensity office and institutional development
Zone name
Office And Institutional 2
General category
CIVIC_INSTITUTIONAL
Zone area
872.03 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$520,000
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
1986
Heating
YES
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
Sukho Thai Real Estate Property LLC
Entity
Mailing address
2106 PATHWAY DR, CHAPEL HILL, NC 27516-7712
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 26, 2024
$840,000
Sukho Thai Real Estate Property LLC
Rampel Investments LLC
Warranty Deed
$714,000 · North State Bank
Apr 19, 2021
—
Rampel Investments LLC
—
Deed
related
$285,000 · Truist Bank
Aug 26, 2019
—
Rampel Investment LLC
Rampel,ruth B
Quit Claim Deed
related
$277,500 · Branch Bk&tr
Sep 26, 2012
—
Mark Rampel
Buschman David Trust
Warranty Deed
—
Dec 13, 2004
—
David Bushman
Pierce,david M
Warranty Deed
related
—
Dec 10, 2004
—
David M Pierce
Pierce,david M & Barbara W
Quit Claim Deed
related
—
—
—
Mark A Rampel
—
Deed Of Trust
related
$314,700 · 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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