Urban Infill Industrial
For Sale
Contact for pricing
1111 Neville St, Durham, NC 27701
Urban infill warehouse with four dock-high positions, covered loading, and a wet sprinkler system.
Property Size46,094 SF
Price / SF$134.51
Days on Market32
Property Features for 1111 Neville St
General Information
Standard status
Active
Size
46,094 SF
Property subtype
INDUSTRIAL
Warehouse & Industrial
Dock-High Doors
4
Sprinkler System
Yes
Building Details
Tenancy
Multi
Listing Agency:
SVN - Real Estate Associates
(919) 949-5672
Listed By:
Carey Greene · License #266741
(919) 949-5672
Source:
Moodyscre
Added: Jun 29
Changed: Jul 28
Last Checked: Jul 29 at 3:18PM
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 SVN - Real Estate Associates
Investment Insights
Based on property information with market context.
This urban infill industrial warehouse offers a functional layout with four dock-high loading positions and a covered loading area. Improvements include a wet sprinkler system and a new TPO roof. The property is configured with space that is currently leased both long-term and short-term, including a portion leased on an NNN basis to Counter Culture Coffee under a lease featuring tiered rent escalations.
Located at 1111 Neville St in Durham, the property sits about 1.5 miles from downtown Durham and roughly 3.5 miles from Duke University. It is also directly adjacent to the City of Durham’s planned $42M East End and Long Meadow Parks redevelopment.
For buyers evaluating current income and future occupancy, the building’s existing leasing structure provides in-place stability through the long-term NNN lease while the remaining space is available to support leasing plans.
Located at 1111 Neville St in Durham, the property sits about 1.5 miles from downtown Durham and roughly 3.5 miles from Duke University. It is also directly adjacent to the City of Durham’s planned $42M East End and Long Meadow Parks redevelopment.
For buyers evaluating current income and future occupancy, the building’s existing leasing structure provides in-place stability through the long-term NNN lease while the remaining space is available to support leasing plans.
Key Highlights
- ±46,094 SF urban infill industrial warehouse in Durham’s East End/Long Meadow area
- ±23,000 SF is leased long‑term to Counter Culture Coffee on a NNN lease with tiered rent escalations
- Additional space is leased short‑term, creating owner‑user flexibility and potential lease‑up/value‑add upside
Financial Insights For Warehouse
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 | $414.8k | $9.00 |
| − Vacancy | −$29.0k | −$0.63 |
| EGI | $385.8k | $8.37 |
| − OpEx | −$57.9k | −$1.26 |
| NOI | $327.9k | $7.11 |
46,094 SF · lease $9.00/SF/yr · vacancy 7.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$4.68M
$4.10M – $5.47M
NOI $327,936 @ 7.0% cap · market cap 5.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.88M
$13.02M – $17.36M
NOI $1,041,898 @ 7.0% cap · market cap 16.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Dock-high doors
Multi-tenant
Tenancy
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,096
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Urban infill warehouse with four dock-high positions, covered loading, and a wet sprinkler system.
Where is this warehouse located?
The property is located at 1111 Neville St Durham, NC.
What is the asking price?
The asking price for this property is $6,200,000.
What are key features of this property?
This property features: ±46,094 SF urban infill industrial warehouse in Durham’s East End/Long Meadow area; ±23,000 SF is leased long‑term to Counter Culture Coffee on a NNN lease with tiered rent escalations; Additional space is leased short‑term, creating owner‑user flexibility and potential lease‑up/value‑add upside
