308 Rosemary St Ste 105a Chapel Hill, NC 27516-2534

Property Details for 308 Rosemary St Ste 105a

Year built

1999

Lot size

1.00 lot acres

Property size

3,310 SF

Zone code

TC2

Property type

Office buildings

APN

9788-27-2240.004

APU

9788272240004

Description

This exceptional investment opportunity presents three vacant, contiguous retail/office condo suites totaling 4,000 square feet, ideally situated at 308 W Rosemary St in Chapel Hill, NC. Located in a Class B, four-story mixed-use building, these suites (101, 102, and 103) offer a versatile space suitable for a variety of uses, from a single-tenant operation to a multi-tenant configuration with the addition of interior walls. The property boasts a desirable downtown location, benefiting from high pedestrian traffic—approximately 7.6 million annually and 21,000 daily—due to its proximity to the University of North Carolina at Chapel Hill campus. Built in 2000, the property sits on a 0.25-acre lot and includes seven parking spaces. Currently vacant, this owner-user opportunity offers a strong pro-forma cap rate of 10.35% and a pro-forma NOI of $88,000, with an asking price of $850,000 ($212.50/sq ft). The fee-simple ownership provides complete control and potential for significant return on investment. The property's adaptability makes it suitable for various businesses, including schools, professional services, salons, health and fitness centers, retail establishments, convenience stores, drug stores, offices, or co-working spaces. This is a rare chance to acquire a well-located, versatile property in a thriving Chapel Hill market.

Location Insight

City

Chapel Hill

County

Orange

State

North Carolina

Longitude

-79.0596

Latitude

35.9132

CBSA code

20500

CBSA name

DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments