Live-Work Property with Ground-Level
804 Madison Street, Durham, NC 27701
For Sale
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Flexible downtown live-work residence with a ground-level ADU and zoning flexibility for office or rental uses.
Property Size2,450 SF
Price / SF$365.31
Days on Market157
Property Features for 804 Madison Street
General Information
Standard status
Size
Class
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Business Included
Building Details
Year Built
Stories
Listing Agency:
Maverick Partners
Listed By:
Jeffrey Goldman · License NC #276608
Source:
Crexi
Added: Jun 10
Changed: Oct 26
Last Checked: Nov 12 at 7:57AM
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
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Investment Insights
Based on property information with market context.
Madison Row is a flexible downtown residence designed around everyday adaptability, with each home featuring a ground-level ADU. The one-bedroom apartment includes a private courtyard entrance, while the primary residence occupies floors two through four. The main home is laid out with three ensuite bedrooms and expansive windows intended to bring in natural light. A rooftop terrace adds an outdoor gathering space and overlooks the surrounding cityscape.
The property is offered for sale at 804 Madison Street in Durham, positioned in the heart of downtown while described as tucked into the Central Park neighborhood. Public remarks indicate it is adjacent to the Bullpen Social District and moments from the Geer Street Entertainment District. The immediate area is also described as close to the American Tobacco Campus, the historic Carolina Theatre, and the DBAP.
Under Downtown Design-Support 2 (DD-S2) zoning, the ground-level and main spaces are presented as capable of evolving for a range of living and operating scenarios, including an in-law suite, guest quarters, private office, creative studio, income-producing rental, or a storefront/workspace for a small business. This configuration may appeal to multi-generational households seeking separation and privacy, as well as remote professionals or operators looking for a live-work setup with an additional unit on site.
The property is offered for sale at 804 Madison Street in Durham, positioned in the heart of downtown while described as tucked into the Central Park neighborhood. Public remarks indicate it is adjacent to the Bullpen Social District and moments from the Geer Street Entertainment District. The immediate area is also described as close to the American Tobacco Campus, the historic Carolina Theatre, and the DBAP.
Under Downtown Design-Support 2 (DD-S2) zoning, the ground-level and main spaces are presented as capable of evolving for a range of living and operating scenarios, including an in-law suite, guest quarters, private office, creative studio, income-producing rental, or a storefront/workspace for a small business. This configuration may appeal to multi-generational households seeking separation and privacy, as well as remote professionals or operators looking for a live-work setup with an additional unit on site.
Key Highlights
- Year built 2026 for a new‑build downtown Durham residence
- Each residence includes a ground‑level ADU with a private courtyard entrance one‑bedroom apartment
- Downtown Design‑Support 2 (DD‑S2) zoning allows flexible use of the ADU (in‑law suite, guest quarters, office, studio, rental, or storefront/workspace)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,838
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$756,760
$756.8K
Cap Rate 7%
$540,543
$540.5K
Cap Rate 9%
$420,422
$420.4K
Market Conditions
NOI Build-Up for 2,450 SF
Gross rent
$61.2K $24.96/SF
− Vacancy
−$10.7K −$4.37/SF
EGI
$50.5K $20.59/SF
− OpEx
−$12.6K −$5.15/SF
NOI
$37.8K $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%
$756,760
Cap Rate 7%
$540,543
Cap Rate 9%
$420,422
Alternative Uses
Best Use
Office B
$540.5K
$473.0K – $630.6K
NOI $37,838 @ 7.0% cap · market cap 4.23%
Second Best
Mixed Use
$472.5K
$413.4K – $551.3K
NOI $33,075 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$791.1K
$692.2K – $923.0K
NOI $55,379 @ 7.0% cap · market cap 6.19%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,257
Businesses Nearby
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Business Placement
Demographics for 27701, NC
25,208
Population
13,409
Households
1.9
Avg Household Size
34
Median Age
50%
College-Educated
85%
High-School Grad
5.2 sq mi
ZIP Area
4,848
Density / Sq Mi
$66,852
Median Household Income
$47,681
Median Earnings
$1,279
Median Rent
$457,600
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Durham, NC
Properties on Market for Multifamily properties in Durham
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Flexible downtown live-work residence with a ground-level ADU and zoning flexibility for office or rental uses.
Where is this multifamily property located?
The property is located at 804 Madison Street Durham, NC.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Year built 2026 for a new‑build downtown Durham residence; Each residence includes a ground‑level ADU with a private courtyard entrance one‑bedroom apartment; Downtown Design‑Support 2 (DD‑S2) zoning allows flexible use of the ADU (in‑law suite, guest quarters, office, studio, rental, or storefront/workspace)
