Commercial Flex
For Sale
Contact for pricing
3421 Angier Ave, Durham, NC 27703
General Commercial zoning accompanies a versatile building configuration on an established commercial corridor.
Property Size2,296 SF
Lot Size0.80 Acres
Price / SF$172.04
Days on Market16
Property Features for 3421 Angier Ave
General Information
Standard status
Active
Size
2,296 SF
Total Parking Spaces
50
Lot size
0.80 Acres
Property subtype
Retail, Industrial, Mixed Use
Zoning
General Commercial
Lease Type
NNN
Additional Details
Asking Price
$395,000
Highway Access
Yes
Building Details
Buildings
1
Units
1
Building Size
2,296 SF
Listing Agency:
Elite Commercial Group
Listed By:
Paulina Bohorquez · License #222259
(919) 985-9416
Source:
Crexi
Added: Aug 21
Changed: Sep 3
Last Checked: Sep 3 at 2:16AM
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 Elite Commercial Group
Investment Insights
Based on property information with market context.
This flex space includes a 2,296-square-foot building on 0.8 acres of General Commercial-zoned land. The property is located at 3421 Angier Avenue in East Durham, providing a compact commercial site with a building and surrounding land suitable for flexible commercial planning.
The site has immediate access to I-885, US 70, and the East End Connector. Nearby development includes the 1,880-unit Brickworks mixed-use community, the 630-unit Creekside project, and the planned Garland District, described as a Main Street destination for retail, restaurants, and makerspaces. Downtown Durham dining and arts venues, along with Research Triangle employers, are also identified as nearby context.
The site has immediate access to I-885, US 70, and the East End Connector. Nearby development includes the 1,880-unit Brickworks mixed-use community, the 630-unit Creekside project, and the planned Garland District, described as a Main Street destination for retail, restaurants, and makerspaces. Downtown Durham dining and arts venues, along with Research Triangle employers, are also identified as nearby context.
Key Highlights
- 2,296‑square‑foot flex building
- 0.8‑acre General Commercial‑zoned site
- Immediate access to I‑885, US 70, and the East End Connector
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
$30,996
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
7.85%
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%
$619,920
$619.9K
Cap Rate 7%
$442,800
$442.8K
Cap Rate 9%
$344,400
$344.4K
Market Conditions
NOI Build-Up for 2,296 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
$55.1K $24.00/SF
− Vacancy
−$5.5K −$2.40/SF
EGI
$49.6K $21.60/SF
− OpEx
−$18.6K −$8.10/SF
NOI
$31.0K $13.50/SF
Area
Durham, NC
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$619,920
Cap Rate 7%
$442,800
Cap Rate 9%
$344,400
Alternative Uses
Best Use
Mixed Use
$442.8K
$387.5K – $516.6K
NOI $30,996 @ 7.0% cap · market cap 7.85%
Second Best
Industrial
$433.4K
$379.3K – $505.7K
NOI $30,340 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$741.4K
$648.7K – $865.0K
NOI $51,898 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
123
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - General Commercial zoning accompanies a versatile building configuration on an established commercial corridor.
Where is this flex space located?
The property is located at 3421 Angier Ave Durham, NC.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2,296‑square‑foot flex building; 0.8‑acre General Commercial‑zoned site; Immediate access to I‑885, US 70, and the East End Connector
