Orange County, NC

Total Value Per Acre
Chapel Hill, NC
Total Value Per Acre
Chapel Hill, NC
Total Value Per Acre
Chapel Hill, NC
Total Value Per Acre

Hillsborough

Carraboro

Chapel Hill
Inline Strip Format

• Rams Gate
• 14 acres
• Land: $4,833,921
• Building: $ 6,163,697
• Total: $10,997,618

• Value per A...
Value Per Acre
Wal-Mart
$612,717/acre
Value Per Acre
Lowes
$816,557/acre
Value Per Acre

University Mall
$868,731/acre
Value Per Acre

Timberlyne Shopping Center
$ 928,548/acre
Value Per Acre

Meadowmont Retail
$2,095,503/acre

East 54
$9,315,351/acre
Downtown Format

• Franklin and Columbia
• .51 acres
• Land: $5,385,950
• Building: $3,759,876
• Total: $9,145,826

• Valu...
Value Per Acre

Bank of America Building
$13,723,183/acre
Value Per Acre

Top of the Hill/Walgreens
$17,887,397/acre
Value Per Acre

350 West Rosemary
$23,932,268/acre
Value Per Acre

140 West Franklin
$34,435,262/acre*
* Estimated assessment
Value Per Acre

Greenbridge
$52,007,048/acre
Older Outparcel Format

• Hwy 70 Hillsborough
• 2.3 acres
• Land: $859,950
• Building: $1,273,771
• Total: $2,133,721

• V...
Outparcel Format

• Franklin and Estes
• .73 acres
• Land: $880,100
• Building: $1,179,500
• Total: $2,059,600

• Value pe...
Europa Center
$3,746,735/acre

Hotel Siena
$2,862,072/acre

Value Per Acre
Franklin Hotel
$18,444,973/acre

Carrboro Hampt...
Orange County Property Tax Revenue Profile: 2013 Tax Yield per Acre

Top of the Hill
$9.1M on 0.5 acres

Timberlyne
$11.98M...
Orange County Property Tax Revenue Profile: 2013 Tax Yield per Acre

140 West Franklin
$60M on 1.74 acres

Timberlyne
$11.9...
Orange County Property Tax Revenue Profile: 2013 Tax Yield per Acre

Greenbridge
$59.8M on 1.15 acres

Timberlyne
$11.98M o...
There’s no
way this
works!

Coach.
Its because of
density.
$955
$3,899

$0

Residential
Commercial

*Average values per Orange County

$7,969
$9,085

BCBS HQ
Timberlyne
City Res. M-...
3

Urban

Completed Study

Great Falls, MT
Missoula, MT
Bozeman, MT

Billings, MT

Sheridan, WY

Driggs, ID

Rockland, ME
...
Urban3

$500

County Property Taxes/Acre
Ratio Difference of 22 City Sample Set, Over 10 States

Joseph Minicozzi, AICP

R...
Development, Value and Taxes (Urban3)
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Development, Value and Taxes (Urban3)

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Development, Value and Taxes (Urban3)

  1. 1. Orange County, NC Total Value Per Acre
  2. 2. Chapel Hill, NC Total Value Per Acre
  3. 3. Chapel Hill, NC Total Value Per Acre
  4. 4. Chapel Hill, NC Total Value Per Acre Hillsborough Carraboro Chapel Hill
  5. 5. Inline Strip Format • Rams Gate • 14 acres • Land: $4,833,921 • Building: $ 6,163,697 • Total: $10,997,618 • Value per Acre: $815,206
  6. 6. Value Per Acre Wal-Mart $612,717/acre
  7. 7. Value Per Acre Lowes $816,557/acre
  8. 8. Value Per Acre University Mall $868,731/acre
  9. 9. Value Per Acre Timberlyne Shopping Center $ 928,548/acre
  10. 10. Value Per Acre Meadowmont Retail $2,095,503/acre East 54 $9,315,351/acre
  11. 11. Downtown Format • Franklin and Columbia • .51 acres • Land: $5,385,950 • Building: $3,759,876 • Total: $9,145,826 • Value per Acre: $17,887,397
  12. 12. Value Per Acre Bank of America Building $13,723,183/acre
  13. 13. Value Per Acre Top of the Hill/Walgreens $17,887,397/acre
  14. 14. Value Per Acre 350 West Rosemary $23,932,268/acre
  15. 15. Value Per Acre 140 West Franklin $34,435,262/acre* * Estimated assessment
  16. 16. Value Per Acre Greenbridge $52,007,048/acre
  17. 17. Older Outparcel Format • Hwy 70 Hillsborough • 2.3 acres • Land: $859,950 • Building: $1,273,771 • Total: $2,133,721 • Value per Acre: $950,348
  18. 18. Outparcel Format • Franklin and Estes • .73 acres • Land: $880,100 • Building: $1,179,500 • Total: $2,059,600 • Value per Acre: $2,746,133
  19. 19. Europa Center $3,746,735/acre Hotel Siena $2,862,072/acre Value Per Acre Franklin Hotel $18,444,973/acre Carrboro Hampton Inn $33,475,350/acre
  20. 20. Orange County Property Tax Revenue Profile: 2013 Tax Yield per Acre Top of the Hill $9.1M on 0.5 acres Timberlyne $11.98M on 12.9 acres 0.7 acres of the Top of the Hill Building would equal the property taxes of the 13 acre Timberlyne Shopping Area
  21. 21. Orange County Property Tax Revenue Profile: 2013 Tax Yield per Acre 140 West Franklin $60M on 1.74 acres Timberlyne $11.98M on 12.9 acres 0.3 acres of the West Franklin Building would equal the property taxes of the 13 acre Timberlyne Shopping Area
  22. 22. Orange County Property Tax Revenue Profile: 2013 Tax Yield per Acre Greenbridge $59.8M on 1.15 acres Timberlyne $11.98M on 12.9 acres 0.2 acres of the Greenbridge Building would equal the property taxes of the 13 acre Timberlyne Shopping Area
  23. 23. There’s no way this works! Coach. Its because of density.
  24. 24. $955 $3,899 $0 Residential Commercial *Average values per Orange County $7,969 $9,085 BCBS HQ Timberlyne City Res. M-F* $295,455 $445,910 $416,667 Greenbridge 140 W Franklin $287,219 $219,866 Spotted Dog Dtwn. Hampton Inn $218,535 120 East Franklin $205,660 $159,213 Franklin Hotel $250,000 350 West Rosemary $153,865 $117,238 Bank of America Top of the Hill $112,168 $80,001 $64,360 $166,667 311 West Rosemary East 54 Meadowmont Inner Circle $49,944 $33,094 Granville Towers Downtown CH Average $32,164 Europa Towers $17,976 Meadowmont Retail $30,092 $16,971 Carr Mill Mall $83,333 Castalia $15,629 $12,571 $7,820 Univ. Mall Autumn Woods $7,455 Walmart $10,109 $5,259 City Res. S-F* Downtown Cb Average Mixed-Use U-Mall Office Park $4,783 County Res. S-F* County Ag* Orange County (Chapel Hill) Property Tax Revenue Profile: 2013 Tax Yield per Acre $333,333 Joe Minicozzi,AICP : Asheville NC
  25. 25. 3 Urban Completed Study Great Falls, MT Missoula, MT Bozeman, MT Billings, MT Sheridan, WY Driggs, ID Rockland, ME Casper, WY Laramie, WY Cheyenne, WY Rifle, CO Petaluma Modesto, CA Turlock, CA Grand Junction, CO Ft. Collins, CO Glenwood Springs, CO Merced, CA Asheville, NC Dunn, NC Chattanooga, TH Wilmington, NC Columbia, SC Sarasota, FL
  26. 26. Urban3 $500 County Property Taxes/Acre Ratio Difference of 22 City Sample Set, Over 10 States Joseph Minicozzi, AICP Residential Commercial $402.80 Mixed-Use $375 $250 $125 $119.10 $76.80 $0 $1.00 County S-F $7.20 $8.10 Walmart City S-F $14.20 Mall or strip Mixed-Use (2 Story) Mixed-Use (3 Story) Mixed-Use (6 Story)

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