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1020 South Miami Blvd Durham, Durham, NC 27703
Multi-tenant building in a growing submarket with redevelopment potential.
Property Size34,433 SF
Lot Size7.88 Acres
Price / SF$159.73
Days on Market262
Property Features for 1020 South Miami Blvd Durham
General Information
Standard status
Active
Size
34,433 SF
Class
C
Lot size
7.88 Acres
Property subtype
Retail
Zoning
CC
Building Details
Year Built
1990
Listing Agency:
Rich Commercial Realty
Listed By:
Sam DiFranco Jr · License #NC 270959
Source:
Crexi
Added: Dec 1, 2025
Changed: Aug 8
Last Checked: Jul 23 at 4:14AM
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 Rich Commercial Realty
Investment Insights
Based on property information with market context.
Located in the South Durham/Research Triangle Park area, 1020 S Miami Blvd is a multi-tenant building offering visibility along a high-traffic corridor with connectivity to US-70, I-40, and I-85. The property is positioned to serve retail, service, office, R&D, or light-industrial tenants. The building spans approximately 35,402 square feet and is 100% occupied by seven tenants on shorter-term lease structures. The site spans 7.88 acres with 375 feet of frontage on US-70 and offers the ability to assemble additional adjacent land totaling up to 12+ acres. Recent building improvements include a 2024 roof coating with a new 10-year warranty. The property has flexible zoning (C1A) and surface parking with 170 spaces. The property is located near RDU International Airport and Parkside 70 Shopping Center. It is surrounded by established retail, major employment hubs, and strong demographics.
Key Highlights
- Prime location in South Durham/Research Triangle Park with exceptional visibility and immediate access to major highways.
- Income‑producing, multi‑tenant building (±35,402 SF) that is currently 100% occupied.
- Significant value‑add potential through lease‑up, rent repositioning, or redevelopment.
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
$396,978
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
7.22%
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%
$7,939,560
$7.9M
Cap Rate 7%
$5,671,114
$5.7M
Cap Rate 9%
$4,410,867
$4.4M
Market Conditions
NOI Build-Up for 34,433 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
$619.8K $18.00/SF
− Vacancy
−$52.7K −$1.53/SF
EGI
$567.1K $16.47/SF
− OpEx
−$170.1K −$4.94/SF
NOI
$397.0K $11.53/SF
Area
Durham, NC
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$7,939,560
Cap Rate 7%
$5,671,114
Cap Rate 9%
$4,410,867
Alternative Uses
Best Use
Retail
$5.67M
$4.96M – $6.62M
NOI $396,978 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.12M
$9.73M – $12.97M
NOI $778,316 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
80
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Han-Dee Hugo's
Shops & Services
3,120 visits/mo
0.1 miles
Demographics for 27703, NC
61,539
Population
27,122
Households
2.3
Avg Household Size
36
Median Age
45%
College-Educated
88%
High-School Grad
49.1 sq mi
ZIP Area
1,253
Density / Sq Mi
$86,953
Median Household Income
$51,462
Median Earnings
$1,469
Median Rent
$340,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant building in a growing submarket with redevelopment potential.
Where is this shopping center located?
The property is located at 1020 South Miami Blvd Durham Durham, NC.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Prime location in South Durham/Research Triangle Park with exceptional visibility and immediate access to major highways.; Income‑producing, multi‑tenant building (±35,402 SF) that is currently 100% occupied.; Significant value‑add potential through lease‑up, rent repositioning, or redevelopment.
