Office Building on Corner
New
For Sale
$849,500
1402 Broad Street, Durham, NC 27705
Commercial Sale, Durham, NC
Property Size2,124 SF
Lot Size0.47 Acres
Price / SF$399.95
Days on Market2
Property Features for 1402 Broad Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OI-2
Parking
5
Vegetation
Grassed, Wooded, Brush
Lot features
Corner Lot
Standard status
Active
APN
101001 & 101000
Size
2,124 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Deed Book 1250, Pg 967
Tax Annual Amount
4899
Legal Description
Deed Book 1250, Pg 967
Utilities
Water source
Public
Building Details
Year built
1929
Floors in Building
2
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Arborland Realty, LLC
Listed By:
Mike J Perry
(919) 612-6611
Added: Oct 8
Changed: Oct 9
Last Checked: Oct 9 at 8:06AM
MLS# 10197461
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,124-square-foot brick office property dates to 1929 and occupies a 0.47-acre double corner lot, with an additional vacant lot adjoining to the north. The former residence was converted for medical office use and later served as law offices. Hardwood flooring and public water are noted. An attorney currently leases the property and will need six months to vacate.
Zoned OI-2, the site is described as allowing mixed-use construction up to 55 feet, or three-story townhomes or clustered homes up to 40 feet. It is located just north of a local historic district and diagonally across from the northeast corner of the NC School of Science and Mathematics.
Zoned OI-2, the site is described as allowing mixed-use construction up to 55 feet, or three-story townhomes or clustered homes up to 40 feet. It is located just north of a local historic district and diagonally across from the northeast corner of the NC School of Science and Mathematics.
Key Highlights
- 2,124‑square‑foot brick building constructed in 1929
- 0.47‑acre double corner lot with an adjoining vacant lot to the north
- OI‑2 zoning; source describes mixed‑use construction up to 55 feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,803
Cap Rate
3.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$656,060
$656.1K
Cap Rate 7%
$468,614
$468.6K
Cap Rate 9%
$364,478
$364.5K
Market Conditions
NOI Build-Up for 2,124 SF
Gross rent
$53.0K $24.96/SF
− Vacancy
−$9.3K −$4.37/SF
EGI
$43.7K $20.59/SF
− OpEx
−$10.9K −$5.15/SF
NOI
$32.8K $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%
$656,060
Cap Rate 7%
$468,614
Cap Rate 9%
$364,478
Alternative Uses
Best Use
Office B
$468.6K
$410.0K – $546.7K
NOI $32,803 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$685.9K
$600.1K – $800.2K
NOI $48,010 @ 7.0% cap · market cap 5.65%
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
Location Intelligence
Trade Area within ½ mile
793
Businesses Nearby
Explore this area
Business Placement
Demographics for 27705, NC
50,472
Population
24,108
Households
2.1
Avg Household Size
34
Median Age
62%
College-Educated
91%
High-School Grad
42.1 sq mi
ZIP Area
1,199
Density / Sq Mi
$71,153
Median Household Income
$43,138
Median Earnings
$1,422
Median Rent
$398,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - A brick, two-story-era residence now serves as office space under an attorney lease with a six-month move-out period.
Where is this office building located?
The property is located at 1402 Broad Street Durham, NC.
What is the asking price?
The asking price for this property is $849,500.
What are key features of this property?
This property features: 2,124‑square‑foot brick building constructed in 1929; 0.47‑acre double corner lot with an adjoining vacant lot to the north; OI‑2 zoning; source describes mixed‑use construction up to 55 feet
