Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2506 Coley Rd Durham, NC 27703

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $377,900

    1.8 acres at busy intersection in high growth area.

    Lot size:
    1.80 Acres

    Property Features for 2506 Coley Rd

    General Information

    Standard status
    Pending
    Lot size
    1.80 Acres

    We can help!

    Listing Contact
    Ricky Murray
    Ricky Murray
    Source: Exitrealty

    Listing Agency: Coldwell Banker HPW Listing Agent: Ricky Murray

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

    Learn more

    Overview

    Durham County Land For Sale

    This 1.8-acre corner lot is located at the intersection of Coley Road and Kemp Road in Durham County, near the Wake County line. Situated just off Highway 98 between Durham and Wake Forest, the parcel is positioned in an area experiencing significant growth. A development of over 600 homes, Perry Farms, is located a short distance from the property. The property behind this parcel, approximately 100 acres, and the property across the street might already be under contract for future development. The tax value recently increased by $51,000. The location may present an investment or development opportunity.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Building Supply Garden Center Electronics & Wireless Store Arcade & Gaming Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.7419867
    Latitude
    35.9564145

    Nearby Similar for Sale

    • $730,000
      2,640 SF

      Durham Commercial Investment Opportunity

      Tenant-occupied commercial property in Durham with high visibility.
      901 E Trinity Ave, Durham, NC 27704
      View Details
    • $385,000
      1,954 SF

      Professional Office Condo Near Duke

      Office condo in Croasdaile Office Park, convenient location.
      3200 Croasdaile Dr, Durham, NC 27705
      View Details
    • $1,000,000
      4,000 SF

      Established Durham Mechanical Shop For Sale

      Income-producing mechanical shop with five service bays and ample parking.
      2410 Angier Ave, Durham, NC 27703
      View Details
    • New
      $585,000
      2,674 SF

      Durham Duplex in Prime Location

      Well-maintained duplex near downtown Durham, ideal for investors.
      604 Homeland Ave, Durham, NC 27707
      View Details
    • $689,900
      3,104 SF

      Modern Duplex Near Downtown Durham

      Side-by-side duplex near downtown Durham with modern amenities.
      307 East End Ave, Durham, NC 27703
      View Details
    • New
      $709,900
      3,034 SF

      Modern Duplex Near Downtown Durham

      Two-story duplex with modern amenities, close to downtown Durham.
      1109 Eva St, Durham, NC 27703
      View Details
    • $899,900
      3,789 SF

      Modern Triplex in Eastern Heights

      Newer construction triplex near downtown Durham and Duke University.
      1505 Juniper St, Durham, NC 27703
      View Details
    • New
      $419,000
      3,200 SF

      Cash-Flowing Quad in Durham, NC

      Cash-flowing quadplex with immediate income in Durham, North Carolina.
      1017 Drew St, Durham, NC 27701
      View Details
    • New
      $419,000
      3,200 SF

      Cash-Flowing Quadplex in Durham

      Quadplex with immediate income potential in Durham, North Carolina.
      1013 Drew St, Durham, NC 27701
      View Details
    • $775,000
      1,540 SF

      Downtown Durham Duplex Investment Opportunity

      Two duplexes in downtown Durham, generating income with redevelopment potential.
      210 W Geer St, Durham, NC 27701
      View Details
    • $498,000
      3,080 SF

      Durham Duplex Near Duke University

      Two-unit property near Duke, ideal for investors or rentals.
      1406 W Club Blvd, Durham, NC 27705
      View Details
    • $435,000
      1,199 SF

      Trinity Park Duplex Opportunity

      Duplex near Duke East Campus with rental history and charming features.
      813 W Knox St, Durham, NC 27701
      View Details

    FAQs

    What type of property is this?
    Commercial land - 1.8 acres at busy intersection in high growth area.
    Where is this commercial land located?
    The property is located at 2506 Coley Rd Durham, NC.
    What is the asking price?
    The asking price for this property is $377,900.
    What are key features of this property?
    This property features: - 1.8 Acre Corner Lot: Large lot perfect for development or investment.; - High-Growth Area: Situated in a rapidly growing area of Durham County near the Wake County line.; - Proximity to Major Roadways: Located just off Hwy 98, between Durham and Wake Forest, at the intersection of Coley and Kemp Rd.
    (919) 795-4463
    Request Owner's contact information
    2506 Coley Rd Durham, NC 27703
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2506 Coley Rd
    Durham, NC 27703
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    2506 Coley Rd Durham, NC 27703
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ricky Murray
    Ricky Murray
    Real Estate License ID: 92110
    (919) 795-4463 (919) 876-8824
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!