NNN Property with Automotive
For Sale
$875,000
921 Midway Ave, Durham, NC 27703
Three suites combine automotive service bays and a music studio with private bathrooms and dedicated office areas.
Property Size3,895 SF
Price / SF$224.65
Days on Market51
Property Features for 921 Midway Ave
General Information
Standard status
Active
Size
3,895 SF
Zoning
CG
Occupancy
70%
Additional Details
Service Bays
2
Amenities
drive-in door
private bathroom
dedicated office space
Building Details
Year Built
1989
Buildings
1
Tenancy
Multi
Listing Agency:
CityPlat
Listed By:
Graham Storey · License #298847
(919) 698-8799
Source:
Bonniestrowd
Added: Aug 21
Changed: Oct 3
Last Checked: Oct 7 at 3:28PM
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 CityPlat
Investment Insights
Based on property information with market context.
Located at 921 Midway in Durham, this 3,895-square-foot commercial property contains three separate suites. Two are configured as automotive shop bays, while the third operates as a music studio. Each unit includes a private bathroom and dedicated office space, and each automotive bay has a 9' x 9' drive-in door.
Built in 1989, the property received a new roof in 2025. Two suites are occupied under NNN leases, resulting in 70% leased occupancy; tenants cover taxes, insurance, and CAM expenses under those agreements. The third suite provides additional occupancy flexibility. The property is zoned Commercial General (CG) under Durham's UDO.
Built in 1989, the property received a new roof in 2025. Two suites are occupied under NNN leases, resulting in 70% leased occupancy; tenants cover taxes, insurance, and CAM expenses under those agreements. The third suite provides additional occupancy flexibility. The property is zoned Commercial General (CG) under Durham's UDO.
Key Highlights
- 3,895‑square‑foot property with three suites
- Two suites configured as automotive shop bays; third suite is a music studio
- 9' x 9' drive‑in door in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,470
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,029,400
$1.0M
Cap Rate 7%
$735,286
$735.3K
Cap Rate 9%
$571,889
$571.9K
Market Conditions
NOI Build-Up for 3,895 SF
Gross rent
$78.1K $20.04/SF
− Vacancy
−$4.5K −$1.16/SF
EGI
$73.5K $18.88/SF
− OpEx
−$22.1K −$5.66/SF
NOI
$51.5K $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%
$1,029,400
Cap Rate 7%
$735,286
Cap Rate 9%
$571,889
Alternative Uses
Best Use
Industrial
$735.3K
$643.4K – $857.8K
NOI $51,470 @ 7.0% cap · market cap 5.88%
Second Best
Retail
$641.5K
$561.3K – $748.4K
NOI $44,905 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,042 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Service bays
70%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 27703, NC
61,539
Population
27,122
Households
2.3
Avg Household Size
36
Median Age
45%
College-Educated
88%
High-School Grad
49.1 sq mi
ZIP Area
1,253
Density / Sq Mi
$86,953
Median Household Income
$51,462
Median Earnings
$1,469
Median Rent
$340,500
Median Home Value
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Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
NNN property - Three suites combine automotive service bays and a music studio with private bathrooms and dedicated office areas.
Where is this nnn property located?
The property is located at 921 Midway Ave Durham, NC.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 3,895‑square‑foot property with three suites; Two suites configured as automotive shop bays; third suite is a music studio; 9' x 9' drive‑in door in each unit
