Standalone Flex
1023 S Miami Blvd Durham, NC 27703
1023 S Miami Blvd, Durham, NC, 27703
Contact for pricing
For Sale
Contact for pricing
Standalone flex building combining office and warehouse space with access to major area highways.
Property Size11,809 SF
Price / SF$259.97
Days on Market147
Property Features for 1023 S Miami Blvd
General Information
- Standard status
- Active
- Size
- 11,809 SF
- Property subtype
- Retail, Industrial
Building Details
- Year Built
- 1999
Listing agency
Rich Commercial Realty
(919) 821-7880
Listed by
Sam DiFranco Jr · License #NC 270959
Source
Crexi
Added: Feb 24 Updated: Jul 21 at 3:03AM Checked: Jul 21 at 3:03AM
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.
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
Local Financial Insights For Office B
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 | $294.8k | $24.96 |
| − Vacancy | −$51.6k | −$4.37 |
| EGI | $243.2k | $20.59 |
| − OpEx | −$60.8k | −$5.15 |
| NOI | $182.4k | $15.44 |
11,809 SF · lease $24.96/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.61M
$2.28M – $3.04M
NOI $182,378 @ 7.0% cap · market cap 5.94%
Second Best
Industrial
$2.23M
$1.95M – $2.60M
NOI $156,049 @ 7.0% cap · market cap 5.08%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Cart Mart - Durham
Golf Cart Dealer
Similar For Sale Nearby
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
FAQs
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
