Colonial Square Office/Medical
4400 Ben Franklin Boulevard Durham, NC 27704
4400 Ben Franklin Boulevard, Durham, NC, 27704
$3,499,000
For Sale
$3,499,000
COMMERCIAL - Durham, NC
Property Size21,532 SF
Lot Size2.10 Acres
Price / SF$162.50
Days on Market350
Property Features for 4400 Ben Franklin Boulevard
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Standard status
- Active
- Size
- 21,532 SF
- Lot size
- 2.10 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- REID 172261, 172262 and 172263
- Tax Annual Amount
- 52317
Building Details
- Year built
- 1997
- Building materials
- Stone
Listing agency
Coldwell Banker HPW
(919) 467-1882
Listed by
J.W. Shearin · License #265200
(919) 819-1481
Added: Aug 7, 2025 Updated: May 19 at 5:13PM Checked: Jul 22 at 7:06PM
MLS# 10114870
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multi-functional commercial building is located in Colonial Square at Independence Park in northern Durham County. The Wight Mansion is a two-story structure offering flexible space suitable for a variety of professional uses. The building features 9,135 square feet above grade and an additional 4,405 square feet below grade. It includes an elevator, ample storage, and a loading dock. The property is situated on a 2.1-acre lot. The building is suitable for medical practices, office suites, educational institutions, and law firms. There is an additional 5,300 square feet of leased area in the building for a total of 21,532 square feet. The leased area generated income for 2024 of $227,739.
Key Highlights
- Significant income generation from leased area: $227,739 in 2024.
- Large, multi‑functional commercial building with 21,532 total square feet.
- Located in a sought‑after office/medical park in northern Durham County.
Local Financial Insights For Healthcare Medical
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $581.4k | $27.00 |
| − Vacancy | −$46.5k | −$2.16 |
| EGI | $534.9k | $24.84 |
| − OpEx | −$213.9k | −$9.94 |
| NOI | $320.9k | $14.90 |
21,532 SF · lease $27.00/SF/yr · vacancy 8.00% · expense 40.00%
Alternative Uses
Best Use
Office B
$4.75M
$4.16M – $5.54M
NOI $332,540 @ 7.0% cap · market cap 9.50%
Second Best
Healthcare Medical
$4.58M
$4.01M – $5.35M
NOI $320,913 @ 7.0% cap · market cap 9.17%
Theoretical Best
Office A
$6.95M
$6.08M – $8.11M
NOI $486,705 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Bromma Inc
Construction Company
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Multi-functional commercial building in Durham's Independence Park.
Where is this office building located?
The property is located at 4400 Ben Franklin Boulevard Durham, NC.
What is the asking price?
The asking price for this property is $3,499,000.
What are key features of this property?
This property features: Significant income generation from leased area: $227,739 in 2024.; Large, multi‑functional commercial building with 21,532 total square feet.; Located in a sought‑after office/medical park in northern Durham County.
