Suite 120 First-Floor Office
For Sale
$389,000
5003 Southpark Drive, Durham, NC 27713
COMMERCIAL - Durham, NC
Property Size1,386 SF
Price / SF$280.66
Days on Market95
Property Features for 5003 Southpark Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
OI(D)
Standard status
Active
APN
202405
Size
1,386 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
Southpark Office Condos/ Bldg 4/Suite 120 Type-27 Pl:Cd0007-000352
Tax Annual Amount
2657
Legal Description
Southpark Office Condos/ Bldg 4/Suite 120 Type-27 Pl:Cd0007-000352
Building Details
Year built
2005
Floors in Building
1
Building materials
Brick
Listing Agency:
Berkshire Hathaway HomeService · Berkshire Hathaway HomeServices
(919) 383-4663
Listed By:
Amy C Sears · License #219738
(919) 815-5824
Added: Apr 30
Changed: Aug 1
Last Checked: Aug 2 at 12:06PM
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.
Investment Insights
Based on property information with market context.
Suite 120 is a first-floor office condominium located in Building 5003 within Southpark Professional Center in Durham, North Carolina. The space is constructed with brick materials and was built in 2005. This office condominium totals 1,386 square feet.
The suite is currently leased to the US Government for a Naval Officer Recruitment. The current lease ends July 2029, and the tenant has an option to stay, as they have since the lease commencement in 2005.
The property is in Southpark Professional Center, described as a convenient office location to I-40, RDU Airport, and the broader Triangle area. Zoning is OI(D). Homeowners Association details are available for interested buyers.
The suite is currently leased to the US Government for a Naval Officer Recruitment. The current lease ends July 2029, and the tenant has an option to stay, as they have since the lease commencement in 2005.
The property is in Southpark Professional Center, described as a convenient office location to I-40, RDU Airport, and the broader Triangle area. Zoning is OI(D). Homeowners Association details are available for interested buyers.
Key Highlights
- Suite 120 is on the first floor in Building 5003, Southpark Professional Center
- Leased to the US Government for Naval Officer Recruitment
- Lease ends July 2029; tenant has option to stay
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $34.6k | $24.96 |
| − Vacancy | −$6.1k | −$4.37 |
| EGI | $28.5k | $20.59 |
| − OpEx | −$7.1k | −$5.15 |
| NOI | $21.4k | $15.44 |
1,386 SF · lease $24.96/SF/yr · vacancy 17.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$305.8K
$267.6K – $356.8K
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
NOI $31,329 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
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
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 - Zoned OI(D), suite 120 is leased to the US Government with a lease ending July 2029.
Where is this office units 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: Suite 120 is on the first floor in Building 5003, Southpark Professional Center; Leased to the US Government for Naval Officer Recruitment; Lease ends July 2029; tenant has option to stay
