Leased Storefront
New
For Sale
$650,000
1108 University Dr, Durham, NC 27707
The existing tenancy provides an established rental configuration for this commercial property.
Property Size2,052 SF
Lot Size0.54 Acres
Price / SF$316.76
Days on Market6
Property Features for 1108 University Dr
General Information
Standard status
Active
Size
2,052 SF
Lot size
0.54 Acres
Property subtype
Business Opportunity
Building Details
Year Built
1960
Listing Agency:
Young Kim Realty
Listed By:
Young B Kim · License #249883
(919) 946-6614
Source:
Tcrnc
Added: Oct 2
Changed: Oct 3
Last Checked: Oct 6 at 12:16AM
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 Young Kim Realty
Investment Insights
Based on property information with market context.
This storefront property includes a 2,052-square-foot building constructed in 1960, situated on 0.54 acres. The property is currently leased, providing an existing rental use. Its storefront classification identifies the asset as commercial space suited to retail-oriented occupancy.
Key Highlights
- 2,052‑square‑foot building constructed in 1960
- 0.54‑acre property
- Currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,658
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$473,160
$473.2K
Cap Rate 7%
$337,971
$338.0K
Cap Rate 9%
$262,867
$262.9K
Market Conditions
NOI Build-Up for 2,052 SF
Gross rent
$36.9K $18.00/SF
− Vacancy
−$3.1K −$1.53/SF
EGI
$33.8K $16.47/SF
− OpEx
−$10.1K −$4.94/SF
NOI
$23.7K $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 Rate 5%
$473,160
Cap Rate 7%
$337,971
Cap Rate 9%
$262,867
Alternative Uses
Best Use
Retail
$338.0K
$295.7K – $394.3K
NOI $23,658 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$662.6K
$579.8K – $773.1K
NOI $46,383 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
954
Businesses Nearby
9k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 65%
Hotels & Casinos 27%
Electronics 8%
BP
Shops & Services
5,058 visits/mo
0.2 miles
SpringHill Suites by Marriott Durham City View
Hotels & Casinos
2,483 visits/mo
0.4 miles
Extra Space Storage
Shops & Services
996 visits/mo
0.5 miles
Cricket Wireless Authorized Retailer
Electronics
708 visits/mo
0.1 miles
Demographics for 27707, NC
49,787
Population
23,528
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
92%
High-School Grad
20.7 sq mi
ZIP Area
2,405
Density / Sq Mi
$72,432
Median Household Income
$45,803
Median Earnings
$1,364
Median Rent
$371,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Storefront property - The existing tenancy provides an established rental configuration for this commercial property.
Where is this storefront property located?
The property is located at 1108 University Dr Durham, NC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,052‑square‑foot building constructed in 1960; 0.54‑acre property; Currently leased
