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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    50211 Governors Dr Chapel Hill, NC 27517-8621

    • Strip malls
    • 1,632 SF
    • 0.02 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-2304293
    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.

    Current Use by Public Records

    • James Dallesandro: Allstate Insurance / Insurance Agency
    • Allstate Personal Financial Representative: Bruce Cumbo / Financial Advisor

    Property Details for 50211 Governors Dr

    Year built
    2011
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.02 lot acres
    Property size
    1,632 SF
    Zone code
    R-1
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    88914
    APU
    88914

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Chapel Hill
    County
    Chatham
    State
    North Carolina
    Longitude
    -79.0241
    Latitude
    35.8543
    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
    $2,868
    $0.00
    $352,717
    $352,717
    -
    $0.00
    $352,717
    $352,717

    Comparable in this City

    • Value Estimation
      $550,000
      2,700 SF

      50100 Governors Dr

      SHOPPING CENTER, STRIP CENTER • 2,700 SF
      50100 Governors Dr, Chapel Hill, NC 27517-8830
      View Details
    • Value Estimation
      $530,000
      2,288 SF

      50201 Governors Dr

      SHOPPING CENTER, STRIP CENTER • 2,288 SF
      50201 Governors Dr, Chapel Hill, NC 27517-8621
      View Details
    • Value Estimation by Request
      1,200 SF

      50120 Governors Dr

      SHOPPING CENTER, STRIP CENTER • 1,200 SF
      50120 Governors Dr, Chapel Hill, NC 27517-8830
      View Details
    • Value Estimation by Request
      1,500 SF

      50150 Governors Dr

      SHOPPING CENTER, STRIP CENTER • 1,500 SF
      50150 Governors Dr, Chapel Hill, NC 27517-8830
      View Details
    • Value Estimation by Request
      1,080 SF

      50130 Governors Dr

      SHOPPING CENTER, STRIP CENTER • 1,080 SF
      50130 Governors Dr, Chapel Hill, NC 27517-8830
      View Details
    • Value Estimation
      $615,000
      3,159 SF

      50160 Governors Dr

      SHOPPING CENTER, STRIP CENTER • 3,159 SF
      50160 Governors Dr, Chapel Hill, NC 27517-8830
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,000 SF

      Chapel Hill Retail Outparcel Investment

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    • $1,474,980
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      Residential Land with Golf Course View

      Residential land in Governors Club with golf course view.
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      Governors Club Building Lot

      Spacious lot for custom home in gated community.
      10455 Council, Chapel Hill, NC 27517
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    • $89,900
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      Chapel Hill Land Opportunity

      Residential land near Governors Club amenities in Chapel Hill, NC.
      11479 Club Dr, Chapel Hill, NC 27517
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      Golf Course View Homesite

      Homesite with golf course views in gated Governors Club community.
      57803 Owen, Chapel Hill, NC 27517
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    Similar Nearby for Lease

    • Contact for pricing
      55,624 SF

      Glenwood Square Retail Center

      Prime Retail Space Available Now
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      72,735 SF

      Falconbridge Shopping Center: Chapel Hill Retail Space

      Chapel Hill retail space, high traffic, immediate occupancy.
      6118-6120 Farrington Rd, Chapel Hill, NC 27517
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    • $35 SF/Yr
      168,000 SF

      East 54 Chapel Hill Offices

      Class A Office Suites, 1,030-4,717 SF
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      View Details
    • Contact for pricing

      Chapel Hill Retail Outparcel Investment

      High-traffic location, excellent visibility.
      0 Old Durham Rd & Cooper St, Chapel Hill, NC 27517
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      59,696 SF

      Premier Chapel Hill Office Site

      Signature office site in the heart of Chapel Hill.
      5002 Barbee Chapel Rd, Chapel Hill, NC 27517
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    • Contact for pricing
      19,800 SF

      Fitness Facility in Chapel Hill

      19,800 SF fitness facility in a busy retail corridor.
      11 Cole Pl Rd, Chapel Hill, NC 27517
      View Details
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    Chapel Hill, NC 27517-8621
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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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