10970 Chapel Hill RdMorrisville, NC 27560

Property Details for 10970 Chapel Hill Rd

Year built

2009

Construction

CONCRETE BLOCKS

Lot size

2.60 AC

Property size (Sq ft)

20,169 SF

Zone code

RAC

Property type

Retail properties

Property subtype

Retail space

APN

0746.02-76-2645 0435311

APU

746027626450435311

Description

This established dry cleaning business in Morrisville, NC, is offered for sale at $700,000. Located at 10970 Chapel Hill Rd, in the Perimeter Park Shopping Center, this Class B, 2,854 square foot business enjoys a prime location near major highways (540, I-40) and RDU Airport, benefiting from high customer traffic due to its proximity to restaurants, hotels, and other retail establishments. The business boasts 100% occupancy and a strong NOI of $699,000. Currently operating under a multi-tenant lease with a remaining term of approximately 2.1 years (expiring 12/31/2026), new lease terms will need to be negotiated with the landlord(s). The property includes two locations: the main Morrisville location (rent/TICAM: $7,727.51) and a smaller pickup/drop-off location in Durham. The business has existing contracts with local hotels for linen services and offers pickup and delivery throughout the area. Branded vehicles are available for separate purchase. The seller is willing to assist with the transition. The property features 2 parking spaces, was built and renovated in 2009, and is zoned RAC. This is a turnkey opportunity for an owner/user seeking a profitable and well-established business.

• CAP approach

  CAP return

  Valuation

  6%

  $6,367,446

  6.5%

  $5,877,642

  7%

  $5,457,810

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,811,291

  Geo Method

  $11,666,572

• Alternative Use

  Use

  Valuation

  Residential

  $4,958,011

  Hospitality

  $4,541,512

  Educational

  $3,778,484

  Medical

  $3,908,432

  Retail

  $5,877,642

Location Insight

City

Morrisville

County

Wake

State

North Carolina

Latitude

35.8564

Longitude

-78.8406

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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