Downtown Durham Office
For Sale
$425,000
100 E Parrish St Suite 150, Durham, NC 27701
Office condo in downtown Durham, close to amenities.
Property Size1,516 SF
Price / SF$181.93
Days on Market158
Property Features for 100 E Parrish St Suite 150
General Information
Standard status
Active
Size
1,516 SF
Class
B
Property subtype
Office Condo
Building Details
Building Size
1,516 SF
Year Built
1984
Listing Agency:
Maverick Partners
(919) 349-9021
Listed By:
Ian Niedel · License #216187
(919) 349-9021
Source:
Maverickpartners
Added: Mar 26
Changed: Aug 26
Last Checked: Aug 29 at 7:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Maverick Partners
Investment Insights
Based on property information with market context.
This commercial property features a condo for sale, comprising a portion of the first floor in a well-maintained building. The unit, Suite 150, offers approximately 1516 square feet of space. The central location provides convenient access to parking, restaurants, bars, and Durham city and county offices. The layout includes several conference rooms, private offices, and a kitchen, making it suitable for attorneys, therapists, financial planners, or other professional service providers. The property is situated in a prime location in Downtown Durham, with restaurants, bars, offices, the Durham Performing Arts Center (DPAC), the Durham Bulls Athletic Park (DBAP), and parking all within walking distance.
Key Highlights
- Two condos available together for $925,000, comprising the entire first floor.
- Prime downtown Durham location within walking distance to restaurants, bars, offices, DPAC, DBAP and parking.
- Suitable for professional service providers such as attorneys, therapists, or financial planners.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$36,077
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$721,540
$721.5K
Cap Rate 7%
$515,386
$515.4K
Cap Rate 9%
$400,856
$400.9K
Market Conditions
NOI Build-Up for 2,336 SF
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.
Gross rent
$58.3K $24.96/SF
− Vacancy
−$10.2K −$4.37/SF
EGI
$48.1K $20.59/SF
− OpEx
−$12.0K −$5.15/SF
NOI
$36.1K $15.44/SF
Area
Durham, NC
Vacancy
17.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$721,540
Cap Rate 7%
$515,386
Cap Rate 9%
$400,856
Alternative Uses
Best Use
Office B
$515.4K
$451.0K – $601.3K
NOI $36,077 @ 7.0% cap · market cap 8.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$754.3K
$660.0K – $880.0K
NOI $52,802 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,126
Businesses Nearby
Explore this area
Business Placement
Demographics for 27701, NC
25,208
Population
13,409
Households
1.9
Avg Household Size
34
Median Age
50%
College-Educated
85%
High-School Grad
5.2 sq mi
ZIP Area
4,848
Density / Sq Mi
$66,852
Median Household Income
$47,681
Median Earnings
$1,279
Median Rent
$457,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Office condo in downtown Durham, close to amenities.
Where is this office units located?
The property is located at 100 E Parrish St Suite 150 Durham, NC.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two condos available together for $925,000, comprising the entire first floor.; Prime downtown Durham location within walking distance to restaurants, bars, offices, DPAC, DBAP and parking.; Suitable for professional service providers such as attorneys, therapists, or financial planners.
