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    224 Oakdale Dr Hillsborough, NC 27278
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    Property profile & analytics

    224 Oakdale Dr Hillsborough, NC 27278

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    • Commercial real estate
    • 4.62 lot acres
    Off-Market
    Property ID
    US53-2473751
    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

    • Commercial real estate

    Property Details for 224 Oakdale Dr

    Lot size
    4.62 lot acres
    Property type
    Commercial real estate
    APN
    9863-86-4896

    Description

    This exceptional 4.62-acre commercial land parcel, located at 224 Oakdale Drive in Hillsborough, North Carolina (zip code 27278), presents a unique investment opportunity. Currently zoned R1 Orange County, this property boasts a gentle slope eastward towards Oakdale Drive and is covered in mature hardwood forest. Its central location offers easy access to major employment hubs and points of interest within the Triangle and Triad regions, including UNC Hospital, Duke University, and Research Triangle Park. The property's strategic positioning near I-40 and I-85 ensures excellent connectivity. The highest and best use is projected to be annexation and rezoning, potentially allowing for the development of townhomes or single-family residential units. Utilities are readily accessible, with Hillsborough municipal water available on the north side of Oakdale Drive and sewer access at the Old 86 intersection. The APN is 9863-86-4896. This offering presents a compelling chance to capitalize on the growing demand for residential development in a highly desirable location. The asking price for this remarkable property is $625,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Hillsborough
    County
    Orange
    State
    North Carolina
    Longitude
    -79.1064697
    Latitude
    36.0501514

    Comparable in this City

    • Contact for pricing
      2,502 SF

      Hillsborough Land Rezoning Opportunity

      2.4 acres near Downtown Hillsborough with redevelopment potential.
      1800 Orange Grove St, Hillsborough, NC 27278
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      Land Near Historic Moorefields

      3.5 acres near nature preserve, ideal for estate development.
      2201 Moorefields Rd, Hillsborough, NC 27278
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      Residential Land Near Hillsborough Downtown

      Residential land for custom home, convenient location near downtown.
      Magpie Ln, Hillsborough, NC 27278
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      Hillsborough Commercial Land Opportunity

      2.4 acres near Downtown Hillsborough with redevelopment potential.
      1800 Orange Grove Rd, Hillsborough, NC 27278
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    • $325,000
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      Hillsborough Homesite in Fox Hill

      Homesite in Fox Hill Farm community near downtown Hillsborough.
      Farm Gate Dr, Hillsborough, NC 27278
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    • $250,000
      0.47 Acres

      Hillsborough Land Opportunity

      Prime land in Hillsborough, NC, ready for your vision.
      700 W King St, Hillsborough, NC 27278
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    Similar Nearby for Sale

    • Contact for pricing
      2,502 SF

      Hillsborough Land Rezoning Opportunity

      2.4 acres near Downtown Hillsborough with redevelopment potential.
      1800 Orange Grove St, Hillsborough, NC 27278
      View Details
    • Contact for pricing

      Land Near Historic Moorefields

      3.5 acres near nature preserve, ideal for estate development.
      2201 Moorefields Rd, Hillsborough, NC 27278
      View Details
    • $200,000
      0.92 Acres

      Residential Land Near Hillsborough Downtown

      Residential land for custom home, convenient location near downtown.
      Magpie Ln, Hillsborough, NC 27278
      View Details
    • $745,000
      2.40 Acres

      Hillsborough Commercial Land Opportunity

      2.4 acres near Downtown Hillsborough with redevelopment potential.
      1800 Orange Grove Rd, Hillsborough, NC 27278
      View Details
    • $325,000
      Pending

      Hillsborough Homesite in Fox Hill

      Homesite in Fox Hill Farm community near downtown Hillsborough.
      Farm Gate Dr, Hillsborough, NC 27278
      View Details
    • $250,000
      0.47 Acres

      Hillsborough Land Opportunity

      Prime land in Hillsborough, NC, ready for your vision.
      700 W King St, Hillsborough, NC 27278
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Commercial Land Near I-85

      1.40-acre parcel suitable for commercial, retail, or food establishment.
      111 Cardinal Dr, Hillsborough, NC 27278
      View Details
    • Contact for pricing

      Commercial Land Parcel For Lease

      1.40-acre parcel suitable for commercial, retail, or food establishment.
      111 Cardinal Dr, Hillsborough, NC 27278
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    • Contact for pricing

      Professional Office Space For Rent

      Bright, open office space near I-85/I-40 in Hillsborough.
      1000 Corporate Dr, Hillsborough, NC 27278
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    • $9 SF/Yr

      Hillsborough Warehouse Space Available

      Warehouse space suitable for manufacturing, storage, distribution, and e-commerce.
      6909 Dodsons Xrd, Hillsborough, NC 27278
      View Details
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    224 Oakdale Dr
    Hillsborough, NC 27278
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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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