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1520 E Franklin St 7,188 SF Office Building Chapel Hill, NC 27514 For Sale
INVESTMENT HIGHLIGHTS
- 2 miles from the University of North Carolina at Chapel Hill and Interstate 40, providing exceptional regional access and exposure to fresh talent.
- Numerous, convenient amenities located nearby at the newly reimagined University Place, Eastgate Crossing, Village Plaza and Rams Plaza.
- Immediately adjacent to bus stop with service connecting UNC Hospitals and UNC Eastowne, a major part of the UNC Medical Center system.
- Exceptional turnkey asset professionally managed and maintained property since its development in 1995.
- Prominent monument and building signage along the renowned Franklin Street provides tenants with extraordinary visibility to more than 22,000 VPD.
- Adaptable building with flexible zoning that supports various commercial uses, from retail and office to more specialized industries.
EXECUTIVE SUMMARY
Discover a unique commercial property strategically located at 1520 E Franklin Street in Chapel Hill. Constructed in 1995, the single-story property has a classic brick veneer design totaling 7,188 square feet. Set on 1.13 acres, the property offers ample parking at a 3.6 spaces per 1,000-square-foot ratio surface parking, accommodating a wide variety of uses, ranging from general office or healthcare clinic to financial institution or educational facility.
Prominent monument and building signage provide exceptional visibility for occupiers to more than 22,000 vehicles per day (VPD). Situated along E Franklin Street, the property offers seamless access to Interstate 40 and an educated labor force from The University of North Carolina at Chapel Hill (UNC).
With land and construction prices increasing to new highs, and given the difficulty of new development in Chapel Hill, the offering presents a tremendous opportunity to acquire a first-class asset at a price well below replacement cost in a prime, infill location.
Prominent monument and building signage provide exceptional visibility for occupiers to more than 22,000 vehicles per day (VPD). Situated along E Franklin Street, the property offers seamless access to Interstate 40 and an educated labor force from The University of North Carolina at Chapel Hill (UNC).
With land and construction prices increasing to new highs, and given the difficulty of new development in Chapel Hill, the offering presents a tremendous opportunity to acquire a first-class asset at a price well below replacement cost in a prime, infill location.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS Under Contract
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
7,188 SF
Building Class
B
Year Built
1995
Tenancy
Single
Building Height
1 Story
Typical Floor Size
7,188 SF
Building FAR
0.69
Lot Size
0.24 AC
Zoning
OI-2-C - Office Industrial Commercial
Parking
24 Spaces (3.61 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Line
- Property Manager on Site
- Signage
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 7,188 SF | Office | - | 30 Days |
1st Floor
| Size |
| 7,188 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| 30 Days |
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1st Floor
| Size | 7,188 SF |
| Space Use | Office |
| Condition | - |
| Available | 30 Days |
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2020 Population
7,725
68,263
124,432
2024 Population
7,485
67,624
123,209
Population Growth '20-'24
-3.1%
-0.9%
-1.0%
2020 Households
3,440
25,698
50,283
2024 Households
3,295
25,608
50,006
Household Growth '20-'24
-4.2%
-0.4%
-0.6%
Average Age
40
36
37
Median Household Income
$87,149
$79,514
$82,937
Daytime Employees
7,967
53,973
73,067
Total Businesses
1,145
8,610
11,342
College Degree + Higher
71%
71%
69%
NEARBY AMENITIES
HOSPITALS |
|||
|---|---|---|---|
| University of North Carolina Hospital | Acute Care | 8 min drive | 2.9 mi |
RESTAURANTS |
|||
|---|---|---|---|
| Dunkin' | Cafe | - | 4 min walk |
| Il Palio | Italian | $$$ | 6 min walk |
| Minga | Korean | $$$ | 8 min walk |
| CAVA | - | - | 9 min walk |
| Snooze an A.M. Eatery | - | - | 10 min walk |
RETAIL |
||
|---|---|---|
| Edward Jones | Finance Company | 2 min walk |
| Walgreens | Drug Store | 6 min walk |
| Truist | Bank | 7 min walk |
| Eat the Frog Fitness | Fitness | 9 min walk |
| Whole Foods Market | Supermarket | 9 min walk |
HOTELS |
|
|---|---|
| Tru by Hilton |
98 rooms
3 min drive
|
| Sheraton Hotel |
168 rooms
4 min drive
|
| aloft Hotel |
130 rooms
6 min drive
|
| AC Hotels by Marriott |
123 rooms
7 min drive
|
| SpringHill Suites |
130 rooms
7 min drive
|
PROPERTY TAXES
| Parcel Number | 9799044076 | Improvements Assessment | $923,700 |
| Land Assessment | $619,400 | Total Assessment | $1,543,100 |
PROPERTY TAXES
Parcel Number
9799044076
Land Assessment
$619,400
Improvements Assessment
$923,700
Total Assessment
$1,543,100
SALE ADVISORS
SALE ADVISORS
Kathy Gigac,
Principal, Managing Director
As a Principal with Avison Young’s Occupier Solutions team, Kathy specializes in tenant advisory services, enterprise solutions, corporate relocations, build-to-suit projects, expansions, consolidations, site selection and lease analysis.
As a leading tenant advisory professional, she has consistently been recognized for her work as a top producer in the market. Kathy is a veteran of the Raleigh-Durham market with more than 20 years of experience working across North Carolina. She has executed numerous large lease and headquarters transactions on behalf of local and national clients including Quintiles (±300,000 sf), First National Bank (±45,000 sf), Avalara (±40,000 sf), Progress Software (±40,000 sf), Intel (±20,000 sf), Industrious (±20,000 sf), Pentair, HNTB and many other financial and professional service firms.
Kathy understands issues that are important to tenants and landlords, bringing perspective and expertise that add value and enhance returns. She provides focused real estate services to ensure clients receive paramount value with every assignment. Clients rely on her for expert market knowledge and aggressive negotiation strategies, and she tailors a strategy to meet each of her client’s specific needs. The results are evident through the consistent achievement of skillfully negotiated lease contracts, preferred site selection and competitive lease restructuring.
Prior to joining Avison Young, Kathy was Director of Tenant Advisory Services with Colliers in their Raleigh-Durham office. She is a member of the Society of Industrial and Office Realtors (SIOR) and a board member of TCAR.
As a leading tenant advisory professional, she has consistently been recognized for her work as a top producer in the market. Kathy is a veteran of the Raleigh-Durham market with more than 20 years of experience working across North Carolina. She has executed numerous large lease and headquarters transactions on behalf of local and national clients including Quintiles (±300,000 sf), First National Bank (±45,000 sf), Avalara (±40,000 sf), Progress Software (±40,000 sf), Intel (±20,000 sf), Industrious (±20,000 sf), Pentair, HNTB and many other financial and professional service firms.
Kathy understands issues that are important to tenants and landlords, bringing perspective and expertise that add value and enhance returns. She provides focused real estate services to ensure clients receive paramount value with every assignment. Clients rely on her for expert market knowledge and aggressive negotiation strategies, and she tailors a strategy to meet each of her client’s specific needs. The results are evident through the consistent achievement of skillfully negotiated lease contracts, preferred site selection and competitive lease restructuring.
Prior to joining Avison Young, Kathy was Director of Tenant Advisory Services with Colliers in their Raleigh-Durham office. She is a member of the Society of Industrial and Office Realtors (SIOR) and a board member of TCAR.
Arnold Siegmund, Principal, Landlord Representation
Arnold specializes in office leasing in the Durham and Chapel Hill markets. Before joining the company in 1998, he sold systems office furniture in the Triangle market for six years. He has over 15 years of sales and marketing experience and has developed a broad understanding of the vibrant and ever-changing Triangle market. Arnold has worked with a wide range of companies and knows how to develop solutions for each business to achieve its goals. Dedication, determination and integrity are qualities that help Arnold build long-term relationships with both the small business owner and the large corporate executive. Clients with whom he has worked include Wachovia Bank, Insomniac Games, CMP America, U.S. EPA, Blue Cross/Blue Shield of NC, Bank of America, SciQuest Inc., Rambus, Inc., Coastal Federal Credit Union, U.S. Dept. of Veteran Affairs and Duke University.
Arnold is a member of the Knights of Columbus and serves as a coach for the Capital Area Soccer League (CASL).
Arnold is a member of the Knights of Columbus and serves as a coach for the Capital Area Soccer League (CASL).
Blake Thomas,
Senior Vice President
Blake specializes in the acquisition and disposition of investment properties, representing a variety of clients from high-net-worth investors and family offices to private equity funds and developers. Blake’s range of experience over the last 18 years in includes sales and leasing, development, finance, and construction. His focus includes office, medical office, industrial, and retail properties, with extensive experience in sale/leasebacks and 1031 transactions. Since joining Avison Young, he has completed over $350m of investment sales transactions.
Blake earned his MBA at UCLA Anderson School of Management, and his BS in Engineering Management and MS in Civil Engineering from Vanderbilt University. He has his Professional Engineering License and has completed over $100 million of office and institutional development in South Florida.
Blake earned his MBA at UCLA Anderson School of Management, and his BS in Engineering Management and MS in Civil Engineering from Vanderbilt University. He has his Professional Engineering License and has completed over $100 million of office and institutional development in South Florida.
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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1520 E Franklin St
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