Building Details

Year built 2005

Floors in Building 1

Building materials Brick

Listing Agency: Berkshire Hathaway HomeService · Berkshire Hathaway HomeServices k***@bhhscarolinas.com Show Phone

Listed By: Amy C Sears · License #219738 Show Phone

Added: Apr 30 Changed: Sep 30 Last Checked: Nov 2 at 9:06AM

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MLS# 10164311

Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

This first-floor office condominium comprises 1,386 square feet in Building 5003 at Southpark Professional Center. Suite 120 is constructed with brick materials and was completed in 2005. The space is occupied by the US Government for Naval Officer Recruitment under a lease scheduled to expire in July 2029, with a tenant option to remain. The occupant has maintained its tenancy since the lease began in 2005.

The property is positioned near I-40 and RDU Airport, with access to the broader Triangle area. The condominium is zoned OI(D) and offers an established office setting within Southpark Professional Center.

Key Highlights

• 1,386‑square‑foot first‑floor office condominium in Building 5003
• Suite 120 leased to the US Government for Naval Officer Recruitment
• Current lease runs through July 2029 with an option to extend

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,405

Cap Rate

5.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$428,100 $428.1K

Cap Rate 7%

$305,786 $305.8K

Cap Rate 9%

$237,833 $237.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,386 SF

Gross rent

$34.6K $24.96/SF

− Vacancy

−$6.1K −$4.37/SF

EGI

$28.5K $20.59/SF

− OpEx

−$7.1K −$5.15/SF

NOI

$21.4K $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%

$428,100

Cap Rate 7%

$305,786

Cap Rate 9%

$237,833

Alternative Uses

Best Use

Office B

$305.8K

$267.6K – $356.8K (±1% cap)

NOI $21,405 @ 7.0% cap · market cap 5.50%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$447.6K

$391.6K – $522.2K (±1% cap)

NOI $31,329 @ 7.0% cap · market cap 8.05%

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

AVANT Group LLC Employment Agency Kreger Realty Real Estate Agency Sayre & Potter LLC Psychotherapist Carla S. Batenga, ... Psychotherapist Cooperative Solar LLC Production Facility

Suggested Use

Top Pick Building Supply Law Firm Big Box & Wholesale Store Kitchen & Bath Showroom Grocery & Convenience Store Food Market

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

1

Office units

100%

Occupancy

Single-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,524

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 - Leased professional suite with an extended occupancy history and convenient access to major regional transportation routes.

Where is this office unit located?

The property is located at 5003 Southpark Drive Durham, NC.

What is the asking price?

The asking price for this property is $389,000.

What are key features of this property?

This property features: 1,386‑square‑foot first‑floor office condominium in Building 5003; Suite 120 leased to the US Government for Naval Officer Recruitment; Current lease runs through July 2029 with an option to extend