First-Floor Office
For Sale
$389,000
5003 Southpark Drive Ste 120, Durham, NC 27713
Current tenancy continues through July 2029 under the existing lease.
Property Size1,386 SF
Price / SF$280.66
Days on Market56
Property Features for 5003 Southpark Drive Ste 120
General Information
Standard status
Active
Size
1,386 SF
Additional Details
Floor
First Floor
Highway Access
Yes
Building Details
Year Built
2005
Tenancy
Single
Listing Agency:
Berkshire Hathaway HomeService
Listed By:
Amy C Sears
(919) 383-4663
Source:
Livingnc
Added: Aug 13
Changed: Oct 3
Last Checked: Oct 7 at 1:42PM
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 Berkshire Hathaway HomeService
Investment Insights
Based on property information with market context.
Suite 120 is a first-floor office condominium containing 1,386 square feet in Building 5003 at Southpark Professional Center. The property was built in 2005 and is currently occupied by the US Government for Naval Officer Recruitment. The existing lease runs through July 2029, and the tenant has an option to remain. The tenancy began in 2005.
The office is located at 5003 Southpark Drive in Durham, with access convenient to I-40, RDU Airport, and the broader Triangle area. The condominium is part of Southpark Professional Center, an established office setting for owners and tenants.
The office is located at 5003 Southpark Drive in Durham, with access convenient to I-40, RDU Airport, and the broader Triangle area. The condominium is part of Southpark Professional Center, an established office setting for owners and tenants.
Key Highlights
- 1,386‑square‑foot first‑floor office condominium in Building 5003
- Current US Government tenancy for Naval Officer Recruitment
- Existing lease extends through July 2029
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,405
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,100
$428.1K
Cap Rate 7%
$305,786
$305.8K
Cap Rate 9%
$237,833
$237.8K
Market Conditions
NOI Build-Up for 1,386 SF
Gross rent
$34.6K $24.96/SF
− Vacancy
−$6.1K −$4.37/SF
EGI
$28.5K $20.59/SF
− OpEx
−$7.1K −$5.15/SF
NOI
$21.4K $15.44/SF
Area
Durham, NC
Vacancy
17.50%
Lease Rate
$24.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$428,100
Cap Rate 7%
$305,786
Cap Rate 9%
$237,833
Alternative Uses
Best Use
Office B
$305.8K
$267.6K – $356.8K
NOI $21,405 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$447.6K
$391.6K – $522.2K
NOI $31,329 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,524
Businesses Nearby
Explore this area
Business Placement
Demographics for 27713, NC
54,988
Population
26,266
Households
2.1
Avg Household Size
36
Median Age
65%
College-Educated
96%
High-School Grad
35.4 sq mi
ZIP Area
1,553
Density / Sq Mi
$96,900
Median Household Income
$56,918
Median Earnings
$1,460
Median Rent
$380,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Current tenancy continues through July 2029 under the existing lease.
Where is this office units located?
The property is located at 5003 Southpark Drive Ste 120 Durham, NC.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 1,386‑square‑foot first‑floor office condominium in Building 5003; Current US Government tenancy for Naval Officer Recruitment; Existing lease extends through July 2029
