Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Office Building Near University Hill Title is generated by Realmo AI

    3708 Mayfair Street, Durham, NC 27707

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Three-story office building near mixed-use development available for rent.

    Type:Office
    Property size:
    59,650 SF
    Added:
    Oct 27, 2023
    Days on Market:
    949
    Last Refresh:
    May 12 at 10:33 pm

    Property Features for 3708 Mayfair Street

    General Information

    Standard status
    Active
    Size
    59,650 SF
    Property subtype
    Office

    Building Details

    Year Built
    1989

    Spaces For Lease

    at 3708 Mayfair Street Contact us

    We can help!

    Listing Contact
    Sarah Warren

    Listing agent Sarah Warren License #NC 265922

    Listing office Trinity Partners Raleigh

    Listing date Oct 27, 2023

    Source Crexi

    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 Trinity Partners Raleigh

    HighLights

    • 59,650 SF, 3‑story office building
    • Steps away from the new University Hill mixed‑use development
    • Enjoy walkability to O2 Fitness and numerous retail/restaurant options
    • Significant renovations underway
    • Exterior refresh just completed
    • Located in Durham

    Overview

    This 59,650 square foot, three-story office building is located near the University Hill mixed-use development. The location offers walkability to O2 Fitness, as well as various retail and restaurant options. Significant renovations are underway, including a recently completed exterior refresh, with additional common area amenities planned. The property is located in Durham, North Carolina.
    Property Profile Location Intelligence

    Current Use by Public Records

    The UNC Family Medicine ... Medical Group Amber Cobia, PT, ... Physician Harry C. Stafford, ... Medical Clinic Justin Lee, MD Pediatrician Sarah Beth Shout, ... Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.9508857
    Latitude
    35.9693236

    Nearby Similar for Lease

    • Sponsored
      $129-$54,775/Mo
      11-2,612 SF

      NC, Durham - Spaces Mangum Street

      555 Mangum St, Unit 100, Durham, NC 27701
      View Details
    • $129-$2,998/Mo
      11-1,292 SF

      NC, Durham - 3511 Shannon Road

      3511 Shannon Rd, Durham, NC 27707
      View Details
    • $129-$3,608/Mo
      11-1,292 SF

      RTP Imperial

      4819 Emperor Blvd, Unit 400, Durham, NC 27703
      View Details
    • $45,045 SF/Yr
      2,145 SF

      Durham Office Space For Lease

      Flexible office unit with ample parking and recent upgrades.
      1906 Carolina 54, Durham, NC 27713
      View Details
    • $2,400/Mo
      5,120 SF

      Professional Office Condos For Lease

      Office condos for lease near Duke University Medical Center.
      2741 Campus Walk Ave, Building 400, Durham, NC 27705
      View Details
    • $3,950,000 SF/Yr
      9,790 SF

      Versatile Building Available for Lease/Sale

      Adaptable building suitable for restaurant, fitness, or office use.
      211 Rigsbee Ave, Durham, North Carolina 27701
      View Details
    • $18 SF/Yr
      2,312 SF

      Prime Medical Office Space Available

      Versatile medical/office space in Durham's thriving North Duke corridor.
      2609 N Duke Street, Durham, NC 27704
      View Details
    • $30 SF/Yr
      94,603 SF

      Plug and Play Lab Space

      Move-in ready lab and office space in Durham, NC.
      4025 Stirrup Creek Drive, Durham, NC 27703
      View Details
    • $20 SF/Yr
      2,408 SF

      Roxboro Road Professional Office Space

      Office space ideal for professional services and medical offices.
      4210 N. Roxboro Street, Suite 140, Durham, NC 27704
      View Details
    • $27 SF/Yr
      16,679 SF

      Durham Office and Retail Space

      Office and retail suites available for lease in Durham.
      404 Hunt Street, Durham, North Carolina 27701
      View Details
    • $3,000/Mo
      2,400 SF

      Retail Space on N Duke

      Retail space available for rent on N Duke Street.
      3925 N Duke Street 121, Durham, NC 27704
      View Details
    • $119-$3,403/Mo
      11-1,292 SF

      RTP Meridian

      2530 Floors, Durham, NC 27713
      View Details

    FAQs

    What type of property is this?
    Office building - Three-story office building near mixed-use development available for rent.
    Where is this office building located?
    The property is located at 3708 Mayfair Street Durham, NC.
    What are key features of this property?
    This property features: 59,650 SF, 3‑story office building; Steps away from the new University Hill mixed‑use development; Enjoy walkability to O2 Fitness and numerous retail/restaurant options
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Sarah Warren
    Real Estate License ID: NC 265922
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3708 Mayfair Street, Durham, NC 27707
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!