Listing Agency: Century 21 Triangle Group

Listed By: Michelle Waite · License #357092 Show Phone

Source: Crexi

Added: Sep 1 Changed: Oct 19 Last Checked: Oct 19 at 4:35AM

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Investment Insights

Based on property information with market context.

This 2,689-square-foot office property occupies 0.39 acres and offers an existing structure for renovation or repositioning. Neighborhood Commercial zoning supports office, daycare, auto sales or car lot, and trade or service business uses, providing a range of documented commercial applications.

The property fronts S Alston Avenue in Durham and offers drive-by exposure for retail or service operations. Regional access includes I-40, NC-147, NC-55, and RDU International Airport, with Research Triangle Park located minutes away via I-40 and NC-147.

Key Highlights

• 2,689 SF commercial building on 0.39 acres
• Neighborhood Commercial zoning
• Approved uses include office, daycare, auto sales/car lot, and trade or service business

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,001

Cap Rate

6.89%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$620,020 $620.0K

Cap Rate 7%

$442,871 $442.9K

Cap Rate 9%

$344,456 $344.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,689 SF

Gross rent

$48.4K $18.00/SF

− Vacancy

−$4.1K −$1.53/SF

EGI

$44.3K $16.47/SF

− OpEx

−$13.3K −$4.94/SF

NOI

$31.0K $11.53/SF

Area

Durham, NC

Vacancy

8.50%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$620,020

Cap Rate 7%

$442,871

Cap Rate 9%

$344,456

Alternative Uses

Best Use

Office B

$593.3K

$519.1K – $692.2K (±1% cap)

NOI $41,529 @ 7.0% cap · market cap 9.23%

Second Best

Retail

$442.9K

$387.5K – $516.7K (±1% cap)

NOI $31,001 @ 7.0% cap · market cap 6.89%

Theoretical Best

Office A

$868.3K

$759.8K – $1.01M (±1% cap)

NOI $60,782 @ 7.0% cap · market cap 13.51%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Law Firm Real Estate Agency Restaurant Auto Parts Store Hair Salon HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

157

Businesses Nearby

Explore this area Business Placement

Demographics for 27713, NC

54,988

Population

26,266

Households

2.1

Avg Household Size

36

Median Age

65%

College-Educated

96%

High-School Grad

35.4 sq mi

ZIP Area

1,553

Density / Sq Mi

$96,900

Median Household Income

$56,918

Median Earnings

$1,460

Median Rent

$380,500

Median Home Value

Market

Vacancy Rate% for Office in South region

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Neighborhood Commercial zoning supports office, daycare, auto sales, and trade or service business uses.

Where is this office unit located?

The property is located at 3417 S Alston Avenue Durham, NC.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 2,689 SF commercial building on 0.39 acres; Neighborhood Commercial zoning; Approved uses include office, daycare, auto sales/car lot, and trade or service business