End-Unit Office
For Sale
$339,000
3200 Croasdaile Drive Unit 101 & 10, Durham, NC 27705
Two connected suites provide reception, private offices, workroom, and storage for a range of professional operations.
Property Size1,954 SF
Price / SF$173.49
Days on Market200
Property Features for 3200 Croasdaile Drive Unit 101 & 10
General Information
Standard status
Active
Size
1,954 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Office Units
2
Taxes and HOA fees
Annual Taxes
$3,224
Amenities
Central Air
3
Office
831 x 392 x 456 x 377
Building Details
Year Built
1985
Listing Agency:
Ward & Misenheimer Realtors
(919) 614-4901
Listed By:
Luther Misenheimer · License #147304
(919) 614-4901
Source:
Xome
Added: Feb 11
Changed: Aug 29
Last Checked: Aug 30 at 1:58PM
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 Ward & Misenheimer Realtors
Investment Insights
Based on property information with market context.
This office condominium combines Suites 101 and 102 in an end-unit configuration with windows on three sides for abundant natural light. The layout includes a reception area, 8 offices, a large workroom, 2 bathrooms with break area, lower-level file storage, and attic storage. Central air is provided, and the property was built in 1985. Ample parking serves employees and customers.
Croasdaile Office Park is located near Duke University, Duke Regional Hospital, The Research Triangle Park, I-85, I-40, 15/501, and NC 147. The two-suite arrangement allows an owner to occupy one suite while retaining the second for future expansion, subject to applicable use and ownership considerations.
Croasdaile Office Park is located near Duke University, Duke Regional Hospital, The Research Triangle Park, I-85, I-40, 15/501, and NC 147. The two-suite arrangement allows an owner to occupy one suite while retaining the second for future expansion, subject to applicable use and ownership considerations.
Key Highlights
- End‑unit office condominium with windows on three sides
- Two connected suites: 101 and 102
- 8 offices, reception area, and large workroom
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
$30,178
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
8.90%
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%
$603,560
$603.6K
Cap Rate 7%
$431,114
$431.1K
Cap Rate 9%
$335,311
$335.3K
Market Conditions
NOI Build-Up for 1,954 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
$48.8K $24.96/SF
− Vacancy
−$8.5K −$4.37/SF
EGI
$40.2K $20.59/SF
− OpEx
−$10.1K −$5.15/SF
NOI
$30.2K $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 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%
$603,560
Cap Rate 7%
$431,114
Cap Rate 9%
$335,311
Alternative Uses
Best Use
Office B
$431.1K
$377.2K – $503.0K
NOI $30,178 @ 7.0% cap · market cap 8.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$631.0K
$552.1K – $736.1K
NOI $44,168 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
524
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Two connected suites provide reception, private offices, workroom, and storage for a range of professional operations.
Where is this office units located?
The property is located at 3200 Croasdaile Drive Unit 101 & 10 Durham, NC.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: End‑unit office condominium with windows on three sides; Two connected suites: 101 and 102; 8 offices, reception area, and large workroom
