Downtown Durham Mixed-Use
For Sale
Contact for pricing
114 E Main St, Durham, NC 27701
Historic building with modern upgrades, suitable for multiple uses.
Property Size2,386 SF
Price / SF$347.86
Days on Market103
Property Features for 114 E Main St
General Information
Standard status
Active
Size
2,386 SF
Property subtype
Retail, Mixed Use
Zoning
DD-C (Downtown Design - Core)
Occupancy
100%
Lease Type
NNN
Investment Type
Stabilized
Building Details
Year Built
1920
Year Renovated
1998
Buildings
1
Tenancy
Multi
Listing Agency:
Elite Commercial Group
(919) 985-9416
Listed By:
Paulina Bohorquez · License #222259
Source:
Crexi
Added: May 20
Changed: Aug 24
Last Checked: Aug 24 at 5:31AM
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 mixed-use property is located in downtown Durham, offering a blend of historic charm and modern upgrades. Its location provides convenient access to the American Tobacco Campus, Durham Bulls Athletic Park, and the Durham Performing Arts Center (DPAC). The property is also near the Durham Freeway and approximately 15 minutes from RDU Airport and the Research Triangle Park (RTP). The property's size is 2386 square feet. It is suitable for office, retail, and residential uses, providing exceptional flexibility for various business or living arrangements.
Key Highlights
- Prime downtown Durham location near American Tobacco Campus, Durham Bulls Athletic Park, and DPAC
- Permits office, retail, and residential uses
- Historic charm with modern upgrades
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
$32,211
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
3.88%
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%
$644,220
$644.2K
Cap Rate 7%
$460,157
$460.2K
Cap Rate 9%
$357,900
$357.9K
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
$57.3K $24.00/SF
− Vacancy
−$5.7K −$2.40/SF
EGI
$51.5K $21.60/SF
− OpEx
−$19.3K −$8.10/SF
NOI
$32.2K $13.50/SF
Area
Durham, NC
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$644,220
Cap Rate 7%
$460,157
Cap Rate 9%
$357,900
Alternative Uses
Best Use
Mixed Use
$460.2K
$402.6K – $536.9K
NOI $32,211 @ 7.0% cap · market cap 3.88%
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
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic building with modern upgrades, suitable for multiple uses.
Where is this mixed-use property located?
The property is located at 114 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 Durham location near American Tobacco Campus, Durham Bulls Athletic Park, and DPAC; Permits office, retail, and residential uses; Historic charm with modern upgrades
