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Property profile & analytics
OFF-MARKET
Estimated value
$975,000
Office Spaces
880 Martin Luther King Jr Blvd, Chapel Hill, NC 27514-2600
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-2294840
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1984
Total area
4,542 SF
Lot
1 ac (43,560 SF)
Zoning code
OI-2/R-1
APN
9789-33-8610.006
UPID
US53-2294840
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$975k
CAP Approach
CAP
$1.15M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$975k
Owner & transaction history
880 Mlk LLC · 2 yrs held
880 Mlk LLC
since 2024
Last sale
$975,000
5 recorded transactions
Zoning & alternative use
OI-2/R-1 · Chapel Hill, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$975,000
ML approach
$975,000
CAP Approach
CAP Return
Estimation
6%
$1,245,000
6.5%
$1,150,000
7%
$1,070,000
Blend value · Realmo final
$975k
Range $878k – $1.07M · ±10% · vs last sale $975k (May 15 2024)
Last sale anchor
$975k
May 15 2024
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
$215 / 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
$13,884
Tax year 2023
Assessed value
$837,500
Assessed 2023
Previous assessed
$837,500
+0.0% YoY
Effective rate
1.66%
On assessed value
Assessed improvement
$837,500
Improvement market value
$837,500
Total market value
$837,500
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1984
Heating
YES
Stories
2
Total area
4,542 SF
Lot
1 ac (43,560 SF)
Zoning code
OI-2/R-1
APN
9789-33-8610.006
UPID
US53-2294840
Jurisdiction
ORANGE
Zoning & alternative use
OI-2/R-1 · Chapel Hill, NC
Zoning OI-2/R-1 · permitted uses
OI-2/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.
Building & site characteristics
From public records
Year built
1984
Heating
YES
Stories
2
Lot
1 ac
Current owner
From public records · entity-resolved
880 Mlk LLC
Entity
Mailing address
6112 SAINT GILES ST, RALEIGH, NC 27612-7043
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2024
—
880 Mlk LLC
—
Deed
related
$285,000 · Providence Bank
May 15, 2024
$975,000
880 Mlk LLC
Cornerstone Work Space LLC
Special Warranty Deed
$1,375,000 · Providence Bank
May 15, 2024
—
880 Mlk LLC
—
Deed
related
$1,375,000 · Providence Bank
Apr 1, 2022
—
Cornerstone Work Space LLC
—
Deed
related
$483,000 · Townebank
Jul 31, 2018
$678,000
Cornerstone Work Space LLC
Medical Foundation Of North Carolin
Special Warranty Deed
$525,000 · Crescom Bank
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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