Property profile

7300 Millhouse Rd Chapel Hill, NC 27516

OFF-MARKET
Industrial properties
Property ID
US53-1575643
70,300 SF 19.65 ac lot Built 2022
Entity Owned 4-yr Hold Absentee Owner
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Property summary

AI-generated overview

This exceptional Orange County industrial property, located in the Chapel Hill submarket cluster, offers a prime opportunity for businesses seeking flexible and expansive space. The property comprises two light industrial buildings totaling 116,310 square feet, situated on a generous 19.6-acre lot. Building 1 encompasses 61,710 square feet, while Building 2 offers 54,600 square feet. Currently, there is 3,632 square feet of vacant space available for lease. The buildings boast 18-foot clear heights, providing ample vertical space for various operational needs. Loading and unloading are facilitated by rear-loaded docks and drive-in capabilities, ensuring efficient logistics. Ample parking is available, with a ratio of two spaces per 1,000 square feet. The property benefits from a robust power supply of 2,000 amps. Its strategic location off Millhouse Road, conveniently situated west of I-40 and NC-86, provides excellent access to major transportation arteries, enhancing connectivity and distribution capabilities. This property is ideally suited for manufacturing, flex, warehouse, distribution, and R&D operations, making it a versatile option for a wide range of businesses. The property's size, features, and location within the thriving Chapel Hill industrial market present a compelling investment opportunity.

Property profile

Verified
Property type Industrial properties
Use group INDUSTRIAL (GENERAL)
Year built 2022
Total area 70,300 SF
Lot 19.65 ac (855,954 SF)
Zoning code MU-OI-1
APN 9870-89-2007
UPID US53-1575643

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Real Estate Agency
  • Plumbing Service General Contractor

Location

7300 Millhouse Rd Chapel Hill, NC 27516-2233
Chapel Hill metro Census 11207 DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$14.29M
Comparable Approach Comparable
$11.05M
Blend (final) Blend
$10.68M

Owner & transaction history

since 2021
7 recorded transactions
2023
Price N/A
2021
$2.3M
2021
Price N/A
2021
Price N/A
2021
Price N/A
2021
Price N/A
2011
Price N/A

Zoning & alternative use

MU-OI-1 · Chapel Hill, NC
Zoning description

The mixed use OI-1 zone is intended to provide for single and two family dwellings and those other non residential uses in the OI-1 zone, except that Medical Aircraft Hangar is not permitted

General category MIXED_USE

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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