Auto Shop with NN
For Sale
$730,000
901 E Trinity Avenue, Durham, NC 27704
Commercial Sale, Durham, NC
Property Size2,640 SF
Lot Size0.23 Acres
Price / SF$276.52
Days on Market597
Property Features for 901 E Trinity Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
2,640 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PROP-GEER F C EST/BLK:05/ LT#31-32 PL:00005B-000106
Tax Annual Amount
2325
Legal Description
PROP-GEER F C EST/BLK:05/ LT#31-32 PL:00005B-000106
Building Details
Year built
1980
Building materials
Stone
Listing Agency:
Century 21 Triangle Group · Century 21 Real Estate
(919) 720-4217
Listed By:
Jose Cruz Labrada · License #312455
(984) 239-8452
Added: Jan 2, 2025
Changed: Aug 19
Last Checked: Aug 22 at 9:06AM
MLS# 10068825
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.
This 2,640-square-foot auto shop sits on a 0.23-acre parcel in Durham, North Carolina. Built in 1980, the property features stone construction and is configured for automotive use.
The asset is occupied under a 5-year Double Net lease, with landlord responsibilities limited to the structure. Located at 901 E Trinity Avenue, the property carries a 7.5% cap rate and offers an established leased configuration for an automotive-focused commercial asset.
The asset is occupied under a 5-year Double Net lease, with landlord responsibilities limited to the structure. Located at 901 E Trinity Avenue, the property carries a 7.5% cap rate and offers an established leased configuration for an automotive-focused commercial asset.
Key Highlights
- 2,640 SF auto shop on a 0.23‑acre parcel
- 5‑year Double Net lease in place
- 7.5% cap rate
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
$34,886
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
4.78%
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%
$697,720
$697.7K
Cap Rate 7%
$498,371
$498.4K
Cap Rate 9%
$387,622
$387.6K
Market Conditions
NOI Build-Up for 2,640 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
$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 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%
$697,720
Cap Rate 7%
$498,371
Cap Rate 9%
$387,622
Alternative Uses
Best Use
Industrial
$498.4K
$436.1K – $581.4K
NOI $34,886 @ 7.0% cap · market cap 4.78%
Second Best
Retail
$434.8K
$380.5K – $507.3K
NOI $30,437 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$852.5K
$745.9K – $994.6K
NOI $59,674 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Automotive property with stone construction and an existing 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 SF auto shop on a 0.23‑acre parcel; 5‑year Double Net lease in place; 7.5% cap rate
