Southpoint Professional Center Office
For Sale
Contact for pricing
Pending
249 E Nc Hwy 54- Suite 100, Durham, NC 27713
Office space in Durham, close to Chapel Hill and RTP.
Property Size8,986 SF
Days on Market646
Property Features for 249 E Nc Hwy 54- Suite 100
General Information
Standard status
Pending
Size
8,986 SF
Property subtype
Office
Zoning
Office and Institutional
Occupancy
100%
Lease Type
NNN
Listing Agency:
Borden Real Estate LLC
(919) 641-4647
Listed By:
Robert Lacy · License #NC 218456
Source:
Crexi
Added: Nov 13, 2024
Changed: Aug 8
Last Checked: Jul 24 at 5:31PM
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 Borden Real Estate LLC
Investment Insights
Based on property information with market context.
Southpoint Professional Center offers office space in an accessible location minutes from Chapel Hill, Hillsborough, and Research Triangle Park. The property is positioned along the I-40 corridor, offering convenient access to RDU International Airport and other key access points. The property contains 8,986 square feet.
Key Highlights
- Unparalleled location minutes from Chapel Hill, Hillsborough, and Research Triangle Park.
- Close proximity to RDU International Airport.
- Key access points along the I‑40 corridor.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$138,780
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,775,600
$2.8M
Cap Rate 7%
$1,982,571
$2.0M
Cap Rate 9%
$1,542,000
$1.5M
Market Conditions
NOI Build-Up for 8,986 SF
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.
Gross rent
$224.3K $24.96/SF
− Vacancy
−$39.3K −$4.37/SF
EGI
$185.0K $20.59/SF
− OpEx
−$46.3K −$5.15/SF
NOI
$138.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,775,600
Cap Rate 7%
$1,982,571
Cap Rate 9%
$1,542,000
Alternative Uses
Best Use
Office B
$1.98M
$1.73M – $2.31M
NOI $138,780 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.54M – $3.39M
NOI $203,118 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
118
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 building - Office space in Durham, close to Chapel Hill and RTP.
Where is this office building located?
The property is located at 249 E Nc Hwy 54- Suite 100 Durham, NC.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Unparalleled location minutes from Chapel Hill, Hillsborough, and Research Triangle Park.; Close proximity to RDU International Airport.; Key access points along the I‑40 corridor.
