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Property profile & analytics
OFF-MARKET
Estimated value
$5,560,000
Office buildings
940 Martin Luther King Jr Blvd, Chapel Hill, NC 27514-2601
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-1334364
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1999
Total area
12,424 SF
Lot
1.11 ac (48,352 SF)
Zoning code
OI-2/R-1
APN
9789-34-6156
UPID
US53-1334364
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
$6.27M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.32M
Blend (final)
Blend
$5.56M
Owner & transaction history
Mmpf III Chapel Hill Nc LLC · 3 yrs held
Mmpf III Chapel Hill Nc LLC
since 2023
Last sale
$4.5M
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
$6,195,000
ML approach
$6,270,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,910,000
Current use
Blend value · Realmo final
$5.56M
Range $5.00M – $6.12M · ±10% · vs last sale $4.50M (Jun 30 2023)
Last sale anchor
$4.50M
Jun 30 2023
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
$448 / 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
$48,200
Tax year 2023
Assessed value
$2,952,300
Assessed 2023
Previous assessed
$2,952,300
+0.0% YoY
Effective rate
1.63%
On assessed value
Assessed land
$976,800
Assessed improvement
$1,975,500
Land market value
$976,800
Improvement market value
$1,975,500
Total market value
$2,952,300
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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1999
Heating
YES
Buildings
2
Stories
2
Total area
12,424 SF
Lot
1.11 ac (48,352 SF)
Zoning code
OI-2/R-1
APN
9789-34-6156
UPID
US53-1334364
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.9M
OFFICE BUILDING Current
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
Heating
YES
Stories
2
Buildings
2
Lot
1.11 ac
Current owner
From public records · entity-resolved
Mmpf III Chapel Hill Nc LLC
Entity
Mailing address
3807 CLEGHOM AVE #903, NASHVILLE, TN 37215
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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 9, 2023
—
Mpf III Chapel Hill Nc
—
Deed
related
$104,638,804 · Capital One Bank NA
Jun 30, 2023
$4,500,000
Mmpf III Chapel Hill Nc LLC
Chimco II LLC
Special Warranty Deed
$104,638,804 · Capital One Bank NA
Jun 30, 2023
—
Mmff III Chapel Hill Nc LLC
Chtmco II LLC
Assignment Of Lease (leasehold Sale)
—
Apr 25, 2023
—
Mmre Acquisitions LLC
Chimco II LLC
Agreement Of Sale
—
—
—
Chimco II LLC
—
Deed Of Trust
related
$102,126 · Sidney E Levinson
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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