Charter School Campus for
1955 West Cornwallis Road Durham, NC 27705
1955 West Cornwallis Road, Durham, NC, 27705
$4,500,000
For Sale
$4,500,000
K-8 charter school campus on a 4.9-acre site, with a 1975-built 22,158 SF facility and nearby interstate access.
Property Size22,158 SF
Lot Size4.90 Acres
Price / SF$203.09
Days on Market30
Property Features for 1955 West Cornwallis Road
General Information
- Standard status
- Active
- Size
- 22,158 SF
- Lot size
- 4.90 Acres
- Property subtype
- Land
Building Details
- Year Built
- 1975
Listing agency
(919) 819-9223
Listed by
Derek Mangum · License #NC #243683
(919) 819-9223
Source
Maverickpartners
Added: Jun 24 Updated: Jul 22 at 6:21PM Checked: Jul 22 at 6:21PM
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 Derek Mangum
Investment Insights
Based on property information with market context.
This property is a charter school campus currently occupied by The Community School of Digital and Visual Arts (formerly The Carter School), serving students in grades K-8. The campus includes a 4.9-acre site and a 22,158 SF building constructed in 1975, with the school currently dedicated to its educational use since 1998. The school is planned to relocate to another site, creating an opportunity for new ownership or future redevelopment.
The site offers access along amenity-dense Hwy 15-501 to Hwy 147, with routes to I-85 and I-40 for commutes to Duke University, Downtown Durham, Research Triangle Park, and Chapel Hill. The broader area is described as being close to Downtown Durham and surrounded by amenities, including South Square, University Hill, Patterson Place, and University Tower.
The highest and best use cases identified in the materials include potential redevelopment to a multi-family community if rezoned, as well as repurposing the existing building, with site planning references also noting potential for structured parking.
The site offers access along amenity-dense Hwy 15-501 to Hwy 147, with routes to I-85 and I-40 for commutes to Duke University, Downtown Durham, Research Triangle Park, and Chapel Hill. The broader area is described as being close to Downtown Durham and surrounded by amenities, including South Square, University Hill, Patterson Place, and University Tower.
The highest and best use cases identified in the materials include potential redevelopment to a multi-family community if rezoned, as well as repurposing the existing building, with site planning references also noting potential for structured parking.
Key Highlights
- 4.9‑acre campus currently occupied by a public charter school for students in grades K–8
- 1975‑built 22,158 SF school building on the property
- Charter school established in 1998 and approved by the NC State Board of Education under the F.R.E.E. Board
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $343.0k | $15.48 |
| − Vacancy | −$40.1k | −$1.81 |
| EGI | $302.9k | $13.67 |
| − OpEx | −$136.3k | −$6.15 |
| NOI | $166.6k | $7.52 |
22,158 SF · lease $15.48/SF/yr · vacancy 11.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.38M
$2.08M – $2.78M
NOI $166,581 @ 7.0% cap · market cap 3.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.16M
$6.26M – $8.35M
NOI $500,854 @ 7.0% cap · market cap 11.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Community School of Digital ...
High School
Similar For Sale Nearby
FAQs
What type of property is this?
School - K-8 charter school campus on a 4.9-acre site, with a 1975-built 22,158 SF facility and nearby interstate access.
Where is this school located?
The property is located at 1955 West Cornwallis Road Durham, NC.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 4.9‑acre campus currently occupied by a public charter school for students in grades K–8; 1975‑built 22,158 SF school building on the property; Charter school established in 1998 and approved by the NC State Board of Education under the F.R.E.E. Board
