Industrial Flex with Laydown
1101 E Cornwallis Durham, NC 27713
For Sale
Contact for pricing
Leased industrial flex with heated warehouse, office, and concrete laydown yard on about 1.4 acres.
Property Size6,831 SF
Lot Size1.40 Acres
Price / SF$219.59
Days on Market56
Property Features for 1101 E Cornwallis
General Information
- Standard status
- Active
- Size
- 6,831 SF
- Lot size
- 1.40 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1975
Listing Agency:
Triangle Real Estate Services LLC
Listed By:
Michael Hickey · License #NC 219787
Source:
Crexi
Added: May 30
Changed: Jul 10
Last Checked: Jul 22 at 8:07AM
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 Triangle Real Estate Services LLC
Investment Insights
Based on property information with market context.
This freestanding industrially zoned property includes an approximately 6,831 SF building with a warehouse portion of about 5,800 SF (heated) and an office portion of about 990 SF (heated and air conditioned). The site also features an exterior concrete area of approximately 2,500 SF that may support outside storage or be enclosed, subject to zoning and permitting. The property is offered for sale with an existing tenant in place.
The current tenant is a pipe supplier serving the southeastern region and has a lease term through the second quarter of 2030. The tenant indicated they would be open to signing a new longer-term lease with agreeable terms. For 2026, base rent is $78,800 with TICAM of $9,100 and 3% annual increases. The property is positioned near RTP, downtown Durham, and I-40 & NC 55.
For buyers or operators seeking an industrial setup with both indoor and outdoor functionality, the combination of heated warehouse space and sizable outside concrete supports contractor, utility, fleet, or industrial outdoor storage use. Additional laydown yard area of just under 1.4 acres may be available for these purposes, subject to zoning and permitting requirements, making the site practical for tenants that need on-site work and storage space.
The current tenant is a pipe supplier serving the southeastern region and has a lease term through the second quarter of 2030. The tenant indicated they would be open to signing a new longer-term lease with agreeable terms. For 2026, base rent is $78,800 with TICAM of $9,100 and 3% annual increases. The property is positioned near RTP, downtown Durham, and I-40 & NC 55.
For buyers or operators seeking an industrial setup with both indoor and outdoor functionality, the combination of heated warehouse space and sizable outside concrete supports contractor, utility, fleet, or industrial outdoor storage use. Additional laydown yard area of just under 1.4 acres may be available for these purposes, subject to zoning and permitting requirements, making the site practical for tenants that need on-site work and storage space.
Key Highlights
- Stand‑alone approx. 6,831 SF industrially zoned building for sale on about 1.4 acres near RTP, downtown Durham, and I‑40 & NC 55
- Includes approx. 5,800 SF heated warehouse and approx. 990 SF office with heat and air
- Outside concrete area approx. 2,500 SF for outside storage or potential space to enclose
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 | $170.5k | $24.96 |
| − Vacancy | −$29.8k | −$4.37 |
| EGI | $140.7k | $20.59 |
| − OpEx | −$35.2k | −$5.15 |
| NOI | $105.5k | $15.44 |
6,831 SF · lease $24.96/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.51M
$1.32M – $1.76M
NOI $105,498 @ 7.0% cap · market cap 7.03%
Second Best
Industrial
$1.29M
$1.13M – $1.50M
NOI $90,267 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$2.21M
$1.93M – $2.57M
NOI $154,406 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Eastern Industrial Supplies, ...
Factory
FAQs
What type of property is this?
Flex space - Leased industrial flex with heated warehouse, office, and concrete laydown yard on about 1.4 acres.
Where is this flex space located?
The property is located at 1101 E Cornwallis Durham, NC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Stand‑alone approx. 6,831 SF industrially zoned building for sale on about 1.4 acres near RTP, downtown Durham, and I‑40 & NC 55; Includes approx. 5,800 SF heated warehouse and approx. 990 SF office with heat and air; Outside concrete area approx. 2,500 SF for outside storage or potential space to enclose
