Medical Office for Lease in Chapel Hill

120 Banks Drive, Chapel Hill, NC 27514

Property Information

  • For Lease $30.00/SF/YR
  • Property Type Office - Medical Office
  • Property Size 20,016 SF
  • Units 3
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1993
  • Year Renovated 2026
  • Date Updated May 4, 2026

Description

Positioned in the highly desirable Timberlyne medical corridor of Chapel Hill, 120 Banks Drive offers an exceptional location for healthcare providers seeking proximity to one of North Carolina’s most prominent medical and academic ecosystems. The property is situated at the intersection of Weaver Dairy Road and Martin Luther King Jr. Blvd, providing immediate access to I-40 and seamless connectivity throughout the Research Triangle. The building is surrounded by an established cluster of healthcare providers, including adjacent medical users such as radiology practices, creating strong referral synergies and patient draw. In fact, new medical investment continues in the area, with major outpatient providers selecting this exact location for expansion due to its accessibility and growing patient base. The surrounding community offers strong demographics and a highly educated population, with over 77% of residents holding a bachelor’s degree or higher and median household incomes well above the state average—supporting a stable and insured patient base. The location is also within walking distance to retail amenities, dining, and services, enhancing convenience for both patients and staff.Opportunity to lease ±3427 SF of medical office space in one of Chapel Hill’s premier healthcare corridors. The suite is currently in cold dark shell condition, offering tenants a rare chance to design and build out a fully customized space tailored to their specific practice needs. Ideal for a wide range of medical users, this space provides flexibility for efficient layouts, patient flow, and specialized equipment installation.

Highlights

  • Ability to design modern, patient-centric environment
  • Ample parking with a 4.5/1000 sq ft ratio
  • Build-to-suit opportunity for medical users
  • Condition: Cold Dark Shell
  • Flexible layout for exam rooms, procedure space, or specialty use
  • Lease Details:
  • Lease Rate: $30.00/SF NNN
  • Located in established medical office corridor
  • Size: ±3427 RSF and Core Factor: 4200SQFT
  • Strong surrounding healthcare presence driving referrals
  • TI: $60/SF
  • TICAM: $4.00/SF

1 Space Available

Medical Office Space for Lease in Chapel Hill

Space Type

Medical Office

Lease Rate

$30.00/SF/YR

Total Space

3,427 SF

Divisible Space

3,427 - 3,427 SF

Available Date

Immediate

Lease Type

NNN

Renewal Option

Yes

Sublease

No

Opportunity to lease ±3,427 SF of medical office space in one of Chapel Hill’s premier healthcare corridors. The suite is currently in cold dark shell condition, offering tenants a rare chance to design and build out a fully customized space tailored to their specific practice needs. Ideal for a wide range of medical users, this space provides flexibility for efficient layouts, patient flow, and specialized equipment installation. Location Highlights: Proximity to UNC Medical Center & UNC Health network Access to Duke Health system (regional referral base) Located within an established medical office cluster Immediate access to I-40 and major arterial roads Strong demographics and patient base Walkable to retail, dining, and daily amenities Positioned in the Research Triangle healthcare hub. Lease Details: Size: ±3,427 RSF and Core Factor: 4200SQFT Lease Rate: $30.00/SF NNN TICAM: $4.00/SF Condition: Cold Dark Shell Property Highlights: Build-to-suit opportunity for medical users Located in established medical office corridor Flexible layout for exam rooms, procedure space, or specialty use Ability to design modern, patient-centric environment Strong surrounding healthcare presence driving referrals

Contacts

Elena Stoyanova

CityPlat Brokerage

Location

Located at 120 Banks Drive, Chapel Hill, NC 27514, this property is part of the Cross Creek neighborhood and Raleigh Durham market.

Contact Listing Broker
Elena Stoyanova

CityPlat Brokerage

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