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    307 N Columbia St Chapel Hill, NC 27516
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    Property profile & analytics

    307 N Columbia St Chapel Hill, NC 27516

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    • Office buildings
    • 1,819 SF
    • 0.24 lot acres
    For Sale
    $1,225,000
    View Listing →
    Chapel Hill Office For Sale For Sale
    $1,225,000
    1,819 SF

    Chapel Hill Office For Sale

    Professional office space near downtown Chapel Hill, potential residential conversion.

    307 N Columbia, Chapel Hill, NC 27516
    View Listing
    Property ID
    US53-2456654
    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

    • Dr. Patricia E. Clark, MD / Physician
    • Anne M Mulkern, MD, MSPH / Physician
    • Durham Nancy / Family Counselor
    • Loberg Judi M / Foster Care Service / Social Service Agency
    • Columbia+Carr Property Management and Sales / Property Management Company

    Property Details for 307 N Columbia St

    Year built
    1930
    Construction
    FRAME
    Lot size
    0.24 lot acres
    Property size
    1,819 SF
    Zone code
    OI-1/R-3
    Property type
    Office buildings
    APN
    9788-28-8065
    APU
    9788288065

    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
    Chapel Hill
    County
    Orange
    State
    North Carolina
    Longitude
    -79.0576
    Latitude
    35.9155
    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
    $8,173
    $422,500
    $62,500
    $485,000
    -
    $422,500
    $62,500
    $485,000

    Comparable in this City

    • Value Estimation
      $2,155,000
      8,007 SF

      Chapel Hill, NC 27516

      OFFICE BUILDING • 8,007 SF
      Chapel Hill, NC 27516
      View Details
    • Value Estimation
      $1,035,000
      3,822 SF

      301 Kildaire Rd Ste, Unit 100

      OFFICE BUILDING • 3,822 SF
      301 Kildaire Rd Ste, Chapel Hill, NC 27516-4064
      View Details
    • Value Estimation by Request
      1,298 SF

      601 Rosemary St, Unit 106

      OFFICE BUILDING • 1,298 SF
      601 Rosemary St, Chapel Hill, NC 27516-2354
      View Details
    • Value Estimation
      $7,660,000
      30,981 SF

      200 Franklin St

      OFFICE BUILDING • 30,981 SF
      200 Franklin St, Chapel Hill, NC 27516-2559
      View Details
    • Value Estimation
      $800,000
      2,600 SF

      600 Market St

      OFFICE BUILDING • 2,600 SF
      600 Market St, Chapel Hill, NC 27516-4055
      View Details
    • Value Estimation by Request
      880 SF

      601 Rosemary St, Unit 214

      OFFICE BUILDING • 880 SF
      601 Rosemary St, Chapel Hill, NC 27516-2354
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,819 SF

      Chapel Hill Office For Sale

      Professional office space near downtown Chapel Hill, potential residential conversion.
      307 N Columbia St, Chapel Hill, NC 27516
      View Details
    • $185,295
      1,132 SF

      Office Condo in Downtown Chapel Hill

      Office condo in shell condition, downtown Chapel Hill location.
      308 W Rosemary St, Chapel Hill, NC 27516
      View Details
    • Contact for pricing
      15,120 SF

      Chapel Hill Distribution Facility

      8.68-acre Chapel Hill cross-dock facility with redevelopment potential.
      7411 Rex Rd, Chapel Hill, NC 27516
      View Details
    • $2,499,900
      89.39 Acres

      Chapel Hill Vacant Land Investment

      89+/- acres near Chapel Hill with timber and development potential.
      01 Collins Mountain Rd, Chapel Hill, NC 27516
      View Details
    • New
      $165,000
      3.92 Acres

      Chapel Hill Wooded Acreage

      Wooded acreage located near downtown Chapel Hill.
      325 Walnut Branch Rd, Chapel Hill, NC 27516
      View Details
    • $100,000
      Pending

      Wooded Acre Near Chapel Hill

      Secluded one-acre lot near amenities and transit.
      1729 NE Priscilla Private Ln NE, Chapel Hill, NC 27516
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,031 SF

      Creative Office Space in Chapel Hill

      Class A creative office space near UNC campus.
      200 West Franklin St, Chapel Hill, NC 27516
      View Details
    • $1,100 /Mo
      1,500 SF

      Chapel Hill Office Space Available

      1500 SF office space for rent in Chapel Hill.
      3300 Nc54, Chapel Hill, NC 27516
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Chapel Hill, NC.
      109 Church St, Chapel Hill, NC 27516
      View Details
    • Contact for pricing
      8,715 SF

      Retail Space at Prime Location

      Retail space available at the intersection of W. Franklin and S. Graham.
      505 West Franklin St, Chapel Hill, NC 27516
      View Details
    • Contact for pricing

      Retail Space in Chapel Hill

      Retail property available for lease in Chapel Hill, North Carolina.
      101 Village Center Dr, Chapel Hill, NC 27516
      View Details
    • Contact for pricing
      4,450 SF

      Retail Space Near UNC Campus

      Dynamic mixed-use project near UNC's campus on Franklin Street.
      123 West Franklin St, Chapel Hill, NC 27516
      View Details
    View Listing
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    Chapel Hill, NC 27516
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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.

    More about this property
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