3026 Old Chapel Hill Rd Durham, NC 27707
- Office Properties & Spaces
- 3,935 SF
Current Use by Public Records
- Office Properties & Spaces
Property Details for 3026 Old Chapel Hill Rd
- Year built
- 1989
- Property size
- 3,935 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This exceptional investment opportunity presents a 3,935 square foot medical office building located at 3026 Old Chapel Hill Rd, Durham, NC 27707. The property is currently 100% occupied by Jones Orthodontics under a 10-year absolute NNN lease, eliminating landlord responsibilities. The lease features a corporate guarantee, providing significant security for the investor. The asking price is $1,215,000, representing a price per square foot of $308.77 and a compelling 6.75% cap rate based on a current Net Operating Income (NOI) of $82,000. Built in 1989, this single-tenant property offers a stable and predictable income stream. The lease includes a 10% rent increase in year six, further enhancing the investment's long-term value. Furthermore, the lease agreement provides four, five-year extension options, each with an additional 10% rent increase, ensuring continued growth and return on investment. This is a rare opportunity to acquire a high-quality, passively managed medical office building in a desirable Durham location. The property's strong tenant, long-term lease, and built-in rent increases make it an ideal addition to any portfolio seeking stable, high-yield returns.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Durham
- County
- Durham
- State
- North Carolina
- Longitude
- -78.9464
- Latitude
- 35.967
