Standalone Flex
For Sale
Contact for pricing
1023 S Miami Blvd, Durham, NC 27703
Standalone flex building combining office and warehouse space with access to major area highways.
Property Size11,809 SF
Price / SF$259.97
Days on Market241
Property Features for 1023 S Miami Blvd
General Information
Standard status
Active
Size
11,809 SF
Class
B
Property subtype
Retail, Industrial
Zoning
GC- General Commercial & R-20 - Residential, Durham
Lease Type
NNN
Investment Type
Owner/User
Site & Location
Neighborhood
Pleasant Drive
Highway Access
Yes
Building Details
Year Built
1999
Year Renovated
2023
Buildings
1
Stories
1
Units
1
Listing Agency:
Rich Commercial Realty
Listed By:
Sam DiFranco Jr · License #NC 270959
(919) 821-7880
Source:
Crexi
Added: Feb 24
Changed: Oct 23
Last Checked: Oct 23 at 3:43AM
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
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Investment Insights
Based on property information with market context.
1023 S Miami Blvd is a standalone flex building offered for sale or lease featuring a functional mix of office and warehouse space. The layout is designed to be efficient and flexible for a range of industrial and service-oriented uses, with space that supports both operations and administrative needs.
The property is located in a highly active industrial corridor in Durham and provides quick access to US-70, I-885, and I-40. It is also positioned near RTP, Downtown Durham, and Raleigh-Durham International Airport, supporting strong regional connectivity for day-to-day operations.
With limited standalone flex industrial product noted for the submarket, the building may be well suited for owner-users or investors seeking a durable space type in the Triangle.
The property is located in a highly active industrial corridor in Durham and provides quick access to US-70, I-885, and I-40. It is also positioned near RTP, Downtown Durham, and Raleigh-Durham International Airport, supporting strong regional connectivity for day-to-day operations.
With limited standalone flex industrial product noted for the submarket, the building may be well suited for owner-users or investors seeking a durable space type in the Triangle.
Key Highlights
- Standalone flex building built in 1999 with a functional mix of office and warehouse space
- Efficient, flexible layout suitable for a variety of industrial and service‑oriented users
- Quick access to US‑70, I‑885, and I‑40 for strong connectivity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$156,049
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,120,980
$3.1M
Cap Rate 7%
$2,229,271
$2.2M
Cap Rate 9%
$1,733,878
$1.7M
Market Conditions
NOI Build-Up for 11,809 SF
Gross rent
$236.7K $20.04/SF
− Vacancy
−$13.7K −$1.16/SF
EGI
$222.9K $18.88/SF
− OpEx
−$66.9K −$5.66/SF
NOI
$156.0K $13.21/SF
Area
Durham, NC
Vacancy
5.80%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,120,980
Cap Rate 7%
$2,229,271
Cap Rate 9%
$1,733,878
Alternative Uses
Best Use
Industrial
$2.23M
$1.95M – $2.60M
NOI $156,049 @ 7.0% cap · market cap 5.08%
Second Best
Flex RnD
$2.07M
$1.81M – $2.42M
NOI $144,902 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$3.81M
$3.34M – $4.45M
NOI $266,928 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
73
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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
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Market
Vacancy Rate% for Industrial in South region
Similar Off Market Nearby
- GH Afri-Land Cuisine (Gifted Hands Cuisine) — 901 Stennis Way, Durham, NC 27703
- Stokleys Catering — 912 Reedy Way, Durham, NC 27703
Frequently Asked Questions
What type of property is this?
Flex space - Standalone flex building combining office and warehouse space with access to major area highways.
Where is this flex space located?
The property is located at 1023 S Miami Blvd Durham, NC.
What is the asking price?
The asking price for this property is $3,070,000.
What are key features of this property?
This property features: Standalone flex building built in 1999 with a functional mix of office and warehouse space; Efficient, flexible layout suitable for a variety of industrial and service‑oriented users; Quick access to US‑70, I‑885, and I‑40 for strong connectivity
