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    1426 S Miami Blvd Durham, NC 27703

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    For Sale
    $5,995,000

    Two buildings and a fenced parking lot for sale.

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    Listing Contact
    Reggie Oakley
    Source: Svn

    Listing Agent: Reggie Oakley

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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    Property Insight Report

    Overview

    Automotive Sales and Service Centers

    The property, located at 1426 S. Miami Boulevard, is a site of approximately 2.40 acres featuring two commercial buildings totaling approximately 22,998 square feet. The improvements, which are utilized as automotive sales and service centers, currently house Moaven Automotive and Gerber Collision & Glass. The sale also includes 1500 S. Miami Blvd, an approximately 0.2-acre fenced parking lot. Constructed in 1986, the buildings were renovated in 2011 and include a waiting area with offices and garage/shop space. The property features eleven roll-up doors, including five 10-foot doors and six 12-foot doors. Both tenants have the option to use gas-pack heat or oil. The property offers direct access to US 70 and is in close proximity to I-85/I-885, providing connectivity to downtown Durham and RTP. The owner is currently in the process of expanding the property line to include the rear parking area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Glass America Auto Repair Shop Gerber Collision & Glass Auto Repair Shop Moaven Motors Auto Repair Shop

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Building Supply Gym & Fitness Center Auto Repair Shop Big Box & Wholesale Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Mario auto body repair llc, Your Mobile Technician LLC, Travelers Tires, Kekes tires #3, JMello Custom Cycles L.L.C.

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.8407494
    Latitude
    35.9538633

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    FAQs

    What type of property is this?
    Auto shop - Two buildings and a fenced parking lot for sale.
    Where is this auto shop located?
    The property is located at 1426 S Miami Blvd Durham, NC.
    What is the asking price?
    The asking price for this property is $5,995,000.
    What are key features of this property?
    This property features: - ±2.40-acre site with **two commercial buildings totaling ±22,998 SF**, currently utilized as automotive sales and service centers.; - Includes an additional ±0.2-acre fenced parking lot at 1500 S. Miami Blvd.; - **Direct access to US 70 and close proximity to I-85/I-885**, providing connectivity to downtown Durham and RTP.
    (917) 771-7783
    Request Owner's contact information
    1426 S Miami Blvd Durham, NC 27703
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    Durham, NC 27703
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1426 S Miami Blvd Durham, NC 27703
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    Listing Contact
    Reggie Oakley
    (917) 771-7783
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