Automotive Service Shop with
For Sale
$1,000,000
2410 Angier, Durham, NC 27703
Tenant-occupied mechanical shop with five service bays, office, dedicated bathrooms, and ample parking.
Property Size4,000 SF
Price / SF$250
Days on Market251
Property Features for 2410 Angier
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Service Bays
5
Taxes and HOA fees
Annual Taxes
$2,416
Building Details
Year Built
1987
Listing Agency:
EXP REALTY, LLC - C
(888) 584-9431
Listed By:
NAKYSHIA ROYSTER
(919) 438-2658
Source:
Corcoran
Added: Jan 9
Changed: Sep 17
Last Checked: Sep 16 at 4:58PM
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 EXP REALTY, LLC - C
Investment Insights
Based on property information with market context.
This property operates as a mechanical shop and is configured for automotive and service-based work. The facility includes five service bays, with two bays equipped with lifts, and each bay has its own bathroom. There is also a dedicated office space on-site to support daily operations. The property provides ample parking and generous storage to accommodate vehicles, equipment, and workflow needs.
The offering is located at 2410 Angier in Durham, NC. The business has been operating for over 20 years, and the site is currently tenant occupied, providing immediate rental income. The site’s layout is designed around service bay functionality, with on-bay bathrooms and an office component to support staff and customer handling.
For tenants, buyers, or operators seeking a ready-to-run automotive or mechanical services location, the combination of five bays, lift-equipped service capacity, and dedicated office space can reduce the need for near-term interior reconfiguration. The dedicated bathroom setup by bay may also support operations that require independent work areas. With parking and storage included, the property supports day-to-day logistics for service appointments and ongoing maintenance operations.
The offering is located at 2410 Angier in Durham, NC. The business has been operating for over 20 years, and the site is currently tenant occupied, providing immediate rental income. The site’s layout is designed around service bay functionality, with on-bay bathrooms and an office component to support staff and customer handling.
For tenants, buyers, or operators seeking a ready-to-run automotive or mechanical services location, the combination of five bays, lift-equipped service capacity, and dedicated office space can reduce the need for near-term interior reconfiguration. The dedicated bathroom setup by bay may also support operations that require independent work areas. With parking and storage included, the property supports day-to-day logistics for service appointments and ongoing maintenance operations.
Key Highlights
- Mechanical shop built in 1987 and tenant occupied for immediate rental income
- 5 service bays, including 2 bays equipped with lifts
- Each service bay includes its own bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,858
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,057,160
$1.1M
Cap Rate 7%
$755,114
$755.1K
Cap Rate 9%
$587,311
$587.3K
Market Conditions
NOI Build-Up for 4,000 SF
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.
Gross rent
$80.2K $20.04/SF
− Vacancy
−$4.6K −$1.16/SF
EGI
$75.5K $18.88/SF
− OpEx
−$22.7K −$5.66/SF
NOI
$52.9K $13.21/SF
Area
Durham, NC
Vacancy
5.80%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,057,160
Cap Rate 7%
$755,114
Cap Rate 9%
$587,311
Alternative Uses
Best Use
Industrial
$755.1K
$660.7K – $881.0K
NOI $52,858 @ 7.0% cap · market cap 5.29%
Second Best
Retail
$658.8K
$576.5K – $768.6K
NOI $46,116 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,415 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Ferguson
Home Improvements & Furnishings
2,215 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Auto shop - Tenant-occupied mechanical shop with five service bays, office, dedicated bathrooms, and ample parking.
Where is this auto shop located?
The property is located at 2410 Angier Durham, NC.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Mechanical shop built in 1987 and tenant occupied for immediate rental income; 5 service bays, including 2 bays equipped with lifts; Each service bay includes its own bathroom
