Building Details

Building Size 2,640 SF

Year Built 1980

Listing Agency: Century 21 Triangle Group s***@c21.com Show Phone

Listed By: Jose Cruz Labrada · License #312455 Show Phone

Source: Egglestonrealestate

Added: Jan 2, 2025 Changed: Oct 23 Last Checked: Oct 23 at 12:34PM

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Investment Insights

Based on property information with market context.

This 2,640-square-foot auto shop in Durham was built in 1980 and is occupied by a tenant under a five-year double-net lease. The stated lease structure leaves the landlord responsible for the building structure, and the property carries a 7.5% cap rate.

Located at 901 E Trinity Avenue, the property is in Durham, North Carolina.

Key Highlights

• 2,640‑square‑foot auto shop
• Five‑year double‑net lease
• 7.5% cap rate

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$34,886

Cap Rate

4.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$697,720 $697.7K

Cap Rate 7%

$498,371 $498.4K

Cap Rate 9%

$387,622 $387.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,640 SF

Gross rent

$52.9K $20.04/SF

− Vacancy

−$3.1K −$1.16/SF

EGI

$49.8K $18.88/SF

− OpEx

−$15.0K −$5.66/SF

NOI

$34.9K $13.21/SF

Area

Durham, NC

Vacancy

5.80%

Lease Rate

$20.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$697,720

Cap Rate 7%

$498,371

Cap Rate 9%

$387,622

Alternative Uses

Best Use

Industrial

$498.4K

$436.1K – $581.4K (±1% cap)

NOI $34,886 @ 7.0% cap · market cap 4.78%

Second Best

Retail

$434.8K

$380.5K – $507.3K (±1% cap)

NOI $30,437 @ 7.0% cap · market cap 4.17%

Theoretical Best

Office A

$852.5K

$745.9K – $994.6K (±1% cap)

NOI $59,674 @ 7.0% cap · market cap 8.17%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Personal Touch Auto ... Car Wash Chris And Son Auto Repair Shop

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Auto Parts Store Florist Cosmetic Store Mobile Phone Store Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

531

Businesses Nearby

23k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 69% Groceries 22% Electronics 9%

Speedway Shops & Services

14,129 visits/mo 0.4 miles

Mi Pueblo Food Center Groceries

5,061 visits/mo 0.2 miles

Cricket Wireless Authorized Retailer Electronics

2,025 visits/mo 0.2 miles

Napa Auto Parts Shops & Services

1,317 visits/mo 0.4 miles

Demographics for 27704, NC

39,532

Population

16,824

Households

2.3

Avg Household Size

36

Median Age

33%

College-Educated

85%

High-School Grad

41.4 sq mi

ZIP Area

955

Density / Sq Mi

$62,435

Median Household Income

$36,955

Median Earnings

$1,306

Median Rent

$270,000

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Auto shop - The property is occupied under a five-year double-net lease.

Where is this auto shop located?

The property is located at 901 E Trinity Avenue Durham, NC.

What is the asking price?

The asking price for this property is $730,000.

What are key features of this property?

This property features: 2,640‑square‑foot auto shop; Five‑year double‑net lease; 7.5% cap rate