Laboratory and Office Flex
2202 Ellis Road, Durham, NC 27703
For Sale
Contact for pricing
Masonry construction and installed laboratory systems serve a mix of research, office, and support functions.
Property Size19,758 SF
Lot Size3.50 Acres
Price / SF$259.39
Days on Market22
Property Features for 2202 Ellis Road
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Additional Details
Highway Access
Property Use
Building Details
Buildings
Building Size
Construction
Listing Agency:
APG Advisors
Listed By:
David Stroud · License NC #233680
Source:
Crexi
Added: Oct 23
Changed: Nov 10
Last Checked: Nov 12 at 7:34AM
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 APG Advisors
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Investment Insights
Based on property information with market context.
This 19,758 SF masonry flex property combines laboratory areas with office and support space. Laboratory infrastructure and specialized building systems are already in place, and the site includes 85 surface parking spaces. The parcel is proposed at approximately 3.5 acres.
Research Triangle Park is adjacent to the property. I-885/Durham Freeway is approximately 0.05 mile away, while I-40 is within 2 miles. Raleigh-Durham International Airport, Duke University, UNC-Chapel Hill, and NC State University are also described as readily accessible.
Research Triangle Park is adjacent to the property. I-885/Durham Freeway is approximately 0.05 mile away, while I-40 is within 2 miles. Raleigh-Durham International Airport, Duke University, UNC-Chapel Hill, and NC State University are also described as readily accessible.
Key Highlights
- 19,758 SF flex facility with laboratory, office, and support areas
- Proposed parcel of approximately 3.5 acres
- 85 surface parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$305,143
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,102,860
$6.1M
Cap Rate 7%
$4,359,186
$4.4M
Cap Rate 9%
$3,390,478
$3.4M
Market Conditions
NOI Build-Up for 19,758 SF
Gross rent
$493.2K $24.96/SF
− Vacancy
−$86.3K −$4.37/SF
EGI
$406.9K $20.59/SF
− OpEx
−$101.7K −$5.15/SF
NOI
$305.1K $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%
$6,102,860
Cap Rate 7%
$4,359,186
Cap Rate 9%
$3,390,478
Alternative Uses
Best Use
Office B
$4.36M
$3.81M – $5.09M
NOI $305,143 @ 7.0% cap · market cap 5.95%
Second Best
Industrial
$3.73M
$3.26M – $4.35M
NOI $261,090 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$6.38M
$5.58M – $7.44M
NOI $446,605 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
Demographics for 27703, NC
61,539
Population
27,122
Households
2.3
Avg Household Size
36
Median Age
45%
College-Educated
88%
High-School Grad
49.1 sq mi
ZIP Area
1,253
Density / Sq Mi
$86,953
Median Household Income
$51,462
Median Earnings
$1,469
Median Rent
$340,500
Median Home Value
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Flex space - Masonry construction and installed laboratory systems serve a mix of research, office, and support functions.
Where is this flex space located?
The property is located at 2202 Ellis Road Durham, NC.
What is the asking price?
The asking price for this property is $5,125,000.
What are key features of this property?
This property features: 19,758 SF flex facility with laboratory, office, and support areas; Proposed parcel of approximately 3.5 acres; 85 surface parking spaces
