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    216-218 Rigsbee Ave Durham, NC 27701

    Sponsored
    For Sale
    $1,800,000

    10,461 SF Office, Vacant, $1.8M

    Property size:
    10,461 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional three-story, 10,461 square foot executive office building is situated in the heart of Downtown Durham's vibrant business district. Built in 1936, the property boasts a prime location, offering convenient access to numerous amenities including restaurants, bars, hotels, the Durham Convention Center, Carolina Theater, Durham Bulls Stadium, American Tobacco Campus, and the Performing Arts Center. The building features a functioning elevator and a large break room/area on the mezzanine level. Currently vacant, this Class C property presents a unique opportunity for redevelopment. The .07-acre lot allows for flexibility, with potential uses including office space, residential conversion, or the construction of a new mid-rise building. The property is zoned DD-C and is offered for sale at $1,800,000. A lease option is also available at $14 per square foot (NNN). Its proximity to the Morgan Rigsbee Parking Garage adds further convenience. A virtual tour is available online.

    Property Features for 216-218 Rigsbee Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    10,461 SF
    Class
    C
    Lot Size
    3,049 SF

    Building Details

    Year Built
    1936
    Stories
    3
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.899675
    Latitude
    35.9975049

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    FAQs

    What type of property is this?
    Office Property / Space - 10,461 SF Office, Vacant, $1.8M
    Where is this office property / space located?
    The property is located at 216-218 Rigsbee Ave Durham, NC.
    What is the asking price?
    The asking price for this property is $1,800,000.
    (919) 682-0501
    Request Owner's contact information
    216-218 Rigsbee Ave Durham, NC 27701
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    Durham, NC 27701
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    216-218 Rigsbee Ave Durham, NC 27701
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