Two-Unit Office
For Sale
$250,000
1804 Martin Luther King Pkwy, Durham, NC 27707
Two end suites on separate floors provide private offices, meeting space, kitchenettes, and bathrooms.
Property Size1,000 SF
Price / SF$250
Days on Market11
Property Features for 1804 Martin Luther King Pkwy
General Information
Standard status
Active
Size
1,000 SF
Space & Availability
Floor
First Floor & Second Floor
Condition
Turnkey
Additional Details
Asking Price
$500,000
Office Units
2
Property Use
Office
Taxes and HOA fees
Annual Taxes
$1,527
Amenities
kitchenette
bathroom
shared lobby
Building Details
Buildings
1
Listing Agency:
KB Realty
(919) 237-9115
Listed By:
Kirk Bullock
(919) 697-1645
Source:
Exprealty
Added: Oct 20
Changed: Oct 26
Last Checked: Oct 28 at 10:47AM
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 KB Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering combines two end-position office suites in the same building: one on the first floor and one on the second. Each suite contains four private offices, a reception or shared lobby area, a kitchenette, a bathroom, and closet space. The upper-level suite also has a conference room. Windows in the offices provide natural light, and parking is available directly outside the units.
The property is in a commercial and residential area with medical and professional office tenants nearby. Restaurants, grocery stores, banks, and a shopping center are within walking distance. Duke University is 3 miles away; UNC-Chapel Hill and Research Triangle Park are 8 miles away, and Raleigh-Durham International Airport is 15 miles away.
Each suite contains 1,000 square feet and can be owned and operated separately. The combined offering is described as 2,000 square feet across both units.
The property is in a commercial and residential area with medical and professional office tenants nearby. Restaurants, grocery stores, banks, and a shopping center are within walking distance. Duke University is 3 miles away; UNC-Chapel Hill and Research Triangle Park are 8 miles away, and Raleigh-Durham International Airport is 15 miles away.
Each suite contains 1,000 square feet and can be owned and operated separately. The combined offering is described as 2,000 square feet across both units.
Key Highlights
- Two office suites, one on each floor; each measures 1,000 SF
- Four private offices in each suite
- Upper‑level suite includes a conference room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,444
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$308,880
$308.9K
Cap Rate 7%
$220,629
$220.6K
Cap Rate 9%
$171,600
$171.6K
Market Conditions
NOI Build-Up for 1,000 SF
Gross rent
$25.0K $24.96/SF
− Vacancy
−$4.4K −$4.37/SF
EGI
$20.6K $20.59/SF
− OpEx
−$5.1K −$5.15/SF
NOI
$15.4K $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%
$308,880
Cap Rate 7%
$220,629
Cap Rate 9%
$171,600
Alternative Uses
Best Use
Office B
$220.6K
$193.1K – $257.4K
NOI $15,444 @ 7.0% cap · market cap 6.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$322.9K
$282.6K – $376.7K
NOI $22,604 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
1,236
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - Two end suites on separate floors provide private offices, meeting space, kitchenettes, and bathrooms.
Where is this office unit located?
The property is located at 1804 Martin Luther King Pkwy Durham, NC.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two office suites, one on each floor; each measures 1,000 SF; Four private offices in each suite; Upper‑level suite includes a conference room
