Downtown Durham Retail
For Sale
Contact for pricing
112 E MAIN ST, Durham, NC 27701
2,386 SF retail property in prime downtown location.
Property Size2,386 SF
Price / SF$347.86
Days on Market83
Property Features for 112 E MAIN ST
General Information
Standard status
Active
Size
2,386 SF
Property subtype
Retail
Zoning
DD-C (Downtown Design – Core)
Occupancy
50%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
1920
Year Renovated
1998
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Elite Commercial Group
(919) 985-9416
Listed By:
Paulina Bohorquez · License #222259
Source:
Crexi
Added: May 19
Changed: Aug 8
Last Checked: Aug 8 at 9:23AM
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 Elite Commercial Group
Investment Insights
Based on property information with market context.
This 2,386 square foot property is located in downtown Durham. The zoning is DD-C (Downtown Design – Core). The location provides walking distance access to the American Tobacco Campus, Durham Bulls Athletic Park, and the Durham Performing Arts Center (DPAC). It also offers easy access to Durham Freeway and is 15 minutes from RDU & RTP. The property is also available as a combined portfolio with 114 E Main St. Both properties share the same owner, are contiguous, and have interior access between them. Purchasing together unlocks short-term rental approval for the second floor and maximizes income potential in one of NC's most dynamic downtown markets. *116 E Main St may be willing to sell as a portfolio.
Key Highlights
- Prime downtown location: walk to American Tobacco Campus, Durham Bulls Athletic Park, and DPAC.
- Combined portfolio potential: Contiguous with 114 E Main St, offering interior access and maximized income potential.
- Purchasing both properties unlocks short‑term rental approval for the second floor.
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
$27,508
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
3.31%
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%
$550,160
$550.2K
Cap Rate 7%
$392,971
$393.0K
Cap Rate 9%
$305,644
$305.6K
Market Conditions
NOI Build-Up for 2,386 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
$42.9K $18.00/SF
− Vacancy
−$3.7K −$1.53/SF
EGI
$39.3K $16.47/SF
− OpEx
−$11.8K −$4.94/SF
NOI
$27.5K $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%
$550,160
Cap Rate 7%
$392,971
Cap Rate 9%
$305,644
Alternative Uses
Best Use
Retail
$393.0K
$343.9K – $458.5K
NOI $27,508 @ 7.0% cap · market cap 3.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$770.5K
$674.2K – $898.9K
NOI $53,933 @ 7.0% cap · market cap 6.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,126
Businesses Nearby
16k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 91%
Beauty & Spa 9%
State Employees Credit Union
Shops & Services
9,259 visits/mo
0.5 miles
Truist
Shops & Services
2,310 visits/mo
0.4 miles
Rock Paper Scissors
Beauty & Spa
1,491 visits/mo
0.1 miles
Mr. Tire
Shops & Services
1,263 visits/mo
0.2 miles
Extra Space Storage
Shops & Services
996 visits/mo
0.5 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Lavish Leaf — 555 S Mangum St Suite 100, Durham, NC 27701
- SameDay-FlowerDelivery — 804 old fayetteville st, durham, nc 27701
- Fragrant Garden Florist — 614 W Main St, Durham, NC 27701
- Fragrant Garden Florist — 801 Gilbert St, Durham, NC 27701
Frequently Asked Questions
What type of property is this?
Storefront property - 2,386 SF retail property in prime downtown location.
Where is this storefront property located?
The property is located at 112 E MAIN ST Durham, NC.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Prime downtown location: walk to American Tobacco Campus, Durham Bulls Athletic Park, and DPAC.; Combined portfolio potential: Contiguous with 114 E Main St, offering interior access and maximized income potential.; Purchasing both properties unlocks short‑term rental approval for the second floor.
