Office Condo with Conference
3721 University Drive # 3721a, Durham, NC 27707
For Sale
New
$333,000
The suite includes private offices, storage, and a bathroom with a shower.
Property Size1,264 SF
Days on Market7
Property Features for 3721 University Drive # 3721a
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Highway Access
Property Use
Building Details
Building Size
Year Built
Listing Agency:
Berkshire Hathaway HomeService
Listed By:
Amy C Sears
(919) 383-4663
Source:
Sherihagerty
Added: Nov 3
Changed: Nov 7
Last Checked: Nov 8 at 1:29PM
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 Berkshire Hathaway HomeService
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Set within University Commons on University Drive, this office condominium was built in 1994. Its interior includes individual offices, conference areas, storage, and a bathroom with a shower. Fourteen surface parking spaces are positioned in front of the suite entrance.
The complex is near residential and retail areas, with access to major highways.
The complex is near residential and retail areas, with access to major highways.
Key Highlights
- 14 surface parking spaces in front of the suite entrance
- Individual offices and conference areas
- Storage and a bathroom with shower
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,521
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$390,420
$390.4K
Cap Rate 7%
$278,871
$278.9K
Cap Rate 9%
$216,900
$216.9K
Market Conditions
NOI Build-Up for 1,264 SF
Gross rent
$31.5K $24.96/SF
− Vacancy
−$5.5K −$4.37/SF
EGI
$26.0K $20.59/SF
− OpEx
−$6.5K −$5.15/SF
NOI
$19.5K $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 Rate 5%
$390,420
Cap Rate 7%
$278,871
Cap Rate 9%
$216,900
Alternative Uses
Best Use
Office B
$278.9K
$244.0K – $325.4K
NOI $19,521 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$408.2K
$357.1K – $476.2K
NOI $28,571 @ 7.0% cap · market cap 8.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,743
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
$371,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Durham, NC
Properties on Market for Office Units in Durham
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office unit - The suite includes private offices, storage, and a bathroom with a shower.
Where is this office unit located?
The property is located at 3721 University Drive # 3721a Durham, NC.
What is the asking price?
The asking price for this property is $333,000.
What are key features of this property?
This property features: 14 surface parking spaces in front of the suite entrance; Individual offices and conference areas; Storage and a bathroom with shower
