First-Floor Office
For Sale
$325,000
3616 Shannon Rd # 101, Durham, NC 27707
2016 office condo with accessible first-floor positioning and OI(D) zoning.
Property Size1,328 SF
Price / SF$244.73
Days on Market67
Property Features for 3616 Shannon Rd # 101
General Information
Standard status
Active
Size
1,328 SF
Class
B
Property subtype
Office Condo
Zoning
OI(D)
Additional Details
Floor
1
Building Details
Building Size
1,328 SF
Year Built
2016
Listing Agency:
Maverick Partners
(919) 475-9907
Listed By:
Bruce Alexander · License #NC #253943
(919) 475-9907
Source:
Maverickpartners
Added: Jun 25
Changed: Aug 29
Last Checked: Aug 29 at 1:38PM
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 Maverick Partners
Investment Insights
Based on property information with market context.
This 1,328-square-foot office condo is located on the first floor and was constructed in 2016. The unit is identified as Suite 101 and carries OI(D) zoning, providing a defined office setting within a modern commercial property.
The property is situated at 3616 Shannon Rd in South Durham, Durham, North Carolina. Its size and office configuration support occupancy by a small or medium-sized business, while the accessible first-floor placement adds practical convenience for daily operations.
The property is situated at 3616 Shannon Rd in South Durham, Durham, North Carolina. Its size and office configuration support occupancy by a small or medium-sized business, while the accessible first-floor placement adds practical convenience for daily operations.
Key Highlights
- 1,328 SF office condo
- Built in 2016
- First‑floor accessibility
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
$20,510
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
6.31%
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%
$410,200
$410.2K
Cap Rate 7%
$293,000
$293.0K
Cap Rate 9%
$227,889
$227.9K
Market Conditions
NOI Build-Up for 1,328 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
$33.1K $24.96/SF
− Vacancy
−$5.8K −$4.37/SF
EGI
$27.3K $20.59/SF
− OpEx
−$6.8K −$5.15/SF
NOI
$20.5K $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%
$410,200
Cap Rate 7%
$293,000
Cap Rate 9%
$227,889
Alternative Uses
Best Use
Office B
$293.0K
$256.4K – $341.8K
NOI $20,510 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$428.8K
$375.2K – $500.3K
NOI $30,018 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,302
Businesses Nearby
Explore this area
Business Placement
Demographics for 27707, NC
49,787
Population
23,528
Households
2.1
Avg Household Size
34
Median Age
57%
College-Educated
92%
High-School Grad
20.7 sq mi
ZIP Area
2,405
Density / Sq Mi
$72,432
Median Household Income
$45,803
Median Earnings
$1,364
Median Rent
$371,500
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office units - 2016 office condo with accessible first-floor positioning and OI(D) zoning.
Where is this office units located?
The property is located at 3616 Shannon Rd # 101 Durham, NC.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 1,328 SF office condo; Built in 2016; First‑floor accessibility
