Carolina Square

Off-Market

123 West Franklin Street, Chapel Hill, NC 27516

This property is off-market. Unlock in-depth property data and market insights by signing up to CommercialEdge.

  • Property Type Office - General Office
  • Property Size 208,000 SF
  • Lot Size 6.16 Acre
  • Parking Spaces Avail. 520
  • Parking Ratio 2.50 / 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class A
  • Year Built 2017

Contacts

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Owner

  • True Owner
  • Registered Owner

Tenants

Suite Name Tenant Leased
Space
Rent Price Lease
Type
Space
Type
Lease Term
370 17th Street #5500 MERRILL, (303) 446-5500 23,824 SF $23/SF/YR Modified
Gross
General
Office
11/01/2014-
N/A
370 17th Street
#6000
Morrison & Foerster,
(303) 592-1500
10,710 SF $26/SF/YR Full
Service
General
Office
08/01/2013-
07/31/2023
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Brokers

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Documents

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Sales

  • Purchase Price
  • Arm's Length True
  • Buyer Name

Mortgages

  • Current Lender
  • Loan Amount
  • Loan Origination Date
  • Loan Maturity Date

Market Trends

Average Actual Rents in Chapel Hill

Average rents use actual signed leases, aggregated for your specific search area and asset type with Yardi Market Insight. Be confident your price is competitive, with CommercialEdge.

Current Average Rent
Net Rent
$44.3/SF/YR
Recoverables Show detailsHide details
$16.7/SF/YR
CAM
$3.54/SF/YR
Insurance
$0.59/SF/YR
Taxes
$9.52/SF/YR
Utilities
$1.76/SF/YR
Management Fees
$1.3/SF/YR
Total Rent
$61/SF/YR
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Occupancy & Leasing Activity
Occupancy
83.5%
Lease Spread
-20.5%
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Asking Rents in Chapel Hill Office Market

Office rental rates are based on aggregated data of asking rates.

  • 2021 Avg. Asking Rent $27.81
  • 2021 Office Vacancy Rate 16.82%
  • 2021 Office Completions (SF) 262,000
View more Chapel Hill market trends

Location

Getting Around

  • Walk Score ®

    76/100 Very Walkable
  • Transit Score ®

    59/100 Good Transit
  • Bike Score ®

    83/100 Very Bikeable
Powered by Walk Score ®
  • City Chapel Hill, NC
  • Neighborhood Chapel Hill Town Center
  • Zip Code 27516
  • Market Raleigh Durham

Points of Interest

  • Red Ride Shuttle

    0.49 miles

  • Mobil

    0.96 miles

  • Marathon

    1.10 miles

  • Gulf

    1.10 miles

  • BP

    1.19 miles

  • Circle K

    1.54 miles

  • Chargepoint

    1.75 miles

  • Mobil

    1.76 miles

  • Exxon

    1.85 miles

  • BP

    2.00 miles

  • Exxon

    2.07 miles

  • Granville Towers Parking

    0.08 miles

  • Wallace Plaza

    0.26 miles

  • Bell Tower Deck

    0.51 miles

  • Cobb Parking Deck

    0.65 miles

  • Cardinal Deck

    0.67 miles

  • Dogwood Deck

    0.71 miles

  • Ram's Head Deck

    0.74 miles

  • Jackson Deck

    0.78 miles

  • Craige Deck

    0.83 miles

  • Boshamer Lot

    0.91 miles

  • AC Hotels Marriott

    0.15 miles

  • The Carolina Inn

    0.19 miles

  • Graduate Chapel Hill

    0.19 miles

  • Hampton Inn & Suites Chapel Hill-Carrboro/Downtown

    0.61 miles

  • Cat's Cradle

    0.67 miles

  • Chapel Hill InnTown

    0.86 miles

  • The Siena Hotel, Autograph Collection

    1.81 miles

  • Aloft Chapel Hill

    1.89 miles

  • Hyatt Place

    2.13 miles

  • Courtyard by Marriott Chapel Hill

    2.70 miles

  • Roots Natural Kitchen

    0.06 miles

  • Spicy 9

    0.08 miles

  • Frutta Bowls

    0.08 miles

  • Hops Burger Bar

    0.08 miles

  • Moe's Southwest Grill

    0.10 miles

  • Lime & Basil

    0.10 miles

  • I Love New York Pizza

    0.11 miles

  • Trolly Stop Hot Dogs

    0.11 miles

  • Lotsa Stone Fired Pizza

    0.12 miles

  • Panera Bread

    0.12 miles

  • Murphey Hall

    0.41 miles

  • Northside School

    0.53 miles

  • Phoenix Academy High School

    0.85 miles

  • University of North Carolina

    0.87 miles

  • Carrboro Elementary School

    1.19 miles

  • Frank Porter Graham Elementary School

    1.25 miles

  • St. Thomas More School

    1.50 miles

  • Grey Culbreth Middle School

    1.60 miles

  • Glenwood Elementary School

    1.76 miles

  • Phillips Middle School

    1.79 miles

  • Community School for People under 6

    0.68 miles

  • Carrboro United Methodist Childcare Center

    1.25 miles

  • Wildflower Preschool & Kindergarten

    2.72 miles

  • Cely's House

    2.83 miles

  • The Learning Experience

    2.89 miles

  • Legacy Academy for Children

    2.94 miles

  • Children's Campus of Chapel Hill

    3.41 miles

  • Rainbow Child Care Center

    5.63 miles

  • Southpoint Children's Campus

    6.55 miles

  • The Learning Experience

    8.96 miles

Frequently Asked Questions

What is the total square footage of Carolina Square?

Carolina Square totals 208,000 square feet.

When was this property built?

Carolina Square was built in 2017.

What is the market value for Carolina Square?

The market value* for Carolina Square in 2022 was $41,975,100.
*This represents the market value determined by the appropriate local tax/financial authority, and not the latest sale price or current market value based on recent sales.

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