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Property profile & analytics
OFF-MARKET
Estimated value
$7,450,000
Grocery and convenience stores
50000 Governors Dr, Chapel Hill, NC 27517-8628
Entity Owned
12-yr Hold
Free & Clear
Property ID
US53-1351134
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
45,811 SF
Lot
6.42 ac (279,525 SF)
Zoning code
R-1
APN
74964
UPID
US53-1351134
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
-
Food Lion Grocery & Convenience Store Food Market
-
Primo Water Refill & Exchange Big Box & Wholesale Store
-
Western Union Bank Credit Union
-
Coinstar Atm Currency Exchange Service
-
Redbox Cinema (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.22M
Comparable Approach
Comparable
$6.69M
Blend (final)
Blend
$7.45M
Owner & transaction history
Governors Shopping Ctr LLC · 12 yrs held
Governors Shopping Ctr LLC
since 2014
1 recorded transaction
Zoning & alternative use
R-1 · Chapel Hill, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$9.0M
+96.0%
Commercial (general)
$6.5M
+41.0%
Office building
$6.5M
+40.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,900,000
6.5%
$8,215,000
7%
$7,630,000
Alternative Use
Use
Estimation
RETAIL STORES
$4,595,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$9,005,000
Change: +96% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,480,000
Change: +41% · Conversion: Easy
OFFICE BUILDING
$6,450,000
Change: +40% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,955,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$7.45M
Range $6.71M – $8.20M · ±10%
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
$163 / 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
$40,080
Tax year 2023
Assessed value
$4,929,886
Assessed 2023
Previous assessed
$4,929,886
+0.0% YoY
Effective rate
0.81%
On assessed value
Assessed land
$1,112,550
Assessed improvement
$3,817,336
Land market value
$1,112,550
Improvement market value
$3,817,336
Total market value
$4,929,886
Applied tax rate
107.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
YES
Stories
1
Total area
45,811 SF
Lot
6.42 ac (279,525 SF)
Zoning code
R-1
APN
74964
UPID
US53-1351134
Jurisdiction
CHATHAM
Zoning & alternative use
R-1 · Chapel Hill, NC
Zoning R-1 · permitted uses
R-1 · Chapel Hill, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chapel Hill. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$4.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$9.0M
COMMERCIAL (GENERAL)
Est. value
$6.5M
OFFICE BUILDING
Est. value
$6.5M
AUTO REPAIR, GARAGE
Est. value
$5.0M
RETAIL STORES Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1999
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
YES
Cooling
Yes
Stories
1
Lot
6.42 ac
Current owner
From public records · entity-resolved
Governors Shopping Ctr LLC
Entity
Free & Clear · 12 yrs held
Mailing address
50051 GOVERNORS DR STE A, CHAPEL HILL, NC 27517-7018
Ownership since
2014
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
Jan 7, 2014
$4,500,000
Governors Shopping Ctr LLC
Governors Village Retail I LLC
Grant Deed
related
—
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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