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Property profile & analytics
OFF-MARKET
Office Spaces
1829 Franklin St Ste 800a Chapel Hill, NC 27514-5868
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US53-1153382
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1984
Total area
1,500 SF
Lot
1 ac (43,560 SF)
Zoning code
OI-2/R-4
APN
9799-26-8986.001
UPID
US53-1153382
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
1053 Management · 2 yrs held
1053 Management
since 2023
Last sale
$297,500
1 recorded transaction
Zoning & alternative use
OI-2/R-4 · Chapel Hill, NC
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,594
Tax year 2023
Assessed value
$211,100
Assessed 2023
Previous assessed
$211,100
+0.0% YoY
Effective rate
1.70%
On assessed value
Assessed improvement
$211,100
Improvement market value
$211,100
Total market value
$211,100
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
1984
Heating
YES
Stories
1
Total area
1,500 SF
Lot
1 ac (43,560 SF)
Zoning code
OI-2/R-4
APN
9799-26-8986.001
UPID
US53-1153382
Jurisdiction
ORANGE
Zoning & alternative use
OI-2/R-4 · Chapel Hill, NCZoning 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
Source
Home | Chapel Hill, NC
Building & site characteristics
From public records
Year built
1984
Heating
YES
Stories
1
Lot
1 ac
Current owner
From public records · entity-resolved
1053 Management
Entity
Free & Clear · 2 yrs held
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2023
$297,500
1053 Management
Michael B Brough
Warranty 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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