103 Rockway St Durham, NC 27704
- Auto shops
- 2,280 SF
- 0.36 lot acres
Current Use by Public Records
- Davis Brothers Plumbing / Plumber
- CND services / Auto Repair Shop / Car Repair And Maintenance Service
Property Details for 103 Rockway St
- Year built
- 1955
- Lot size
- 0.36 lot acres
- Property size
- 2,280 SF
- Zone code
- RS-20
- Property type
- Auto shops
- APN
- 172050
- APU
- 172050
Description
This exceptional opportunity presents a fully operational auto repair shop available for lease in Durham, North Carolina. Located at 103 E Rockway Street E, this well-established business occupies a 2,280 square foot building situated on a 0.36-acre lot. The shop boasts five service bays, equipped with four lifts, ensuring efficient workflow and ample space for various repair tasks. A comfortable waiting area is provided for customers, along with two convenient bathrooms. The shop is equipped for immediate operation, including all necessary equipment. A significant advantage for any prospective lessee is the inclusion of over ten years of client files, providing a ready-made customer base and valuable business history. The property features gas heating in the shop area, while the remaining spaces benefit from both heating and air conditioning, ensuring year-round comfort. The lease agreement includes favorable terms for the tenant, with the landlord covering property taxes and building insurance. This turnkey operation presents a rare opportunity to acquire an established and profitable business with a strong existing client base and minimal upfront investment. The property's prime location in Durham offers excellent visibility and accessibility, making it an ideal location for a thriving auto repair business. This is a fantastic opportunity for an experienced mechanic or entrepreneur looking to establish or expand their business.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $230,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $185,000
- 6.5%
- $190,000
- 7%
- $175,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $190,000
- Geo Method
- $165,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $155,000
- Retail
- $165,000
- Mixed-Use
- $205,000
- Hospitality
- $170,000
- Educational
- $180,000
- Residential Income
- $160,000
- Energy
- $180,000
- Income-Based Land
- $155,000
- Food Service
- $180,000
Location Insight
- Map
- Local Demand
- City
- Durham
- County
- Durham
- State
- North Carolina
- Longitude
- -78.896
- Latitude
- 36.0375
- CBSA code
- 20500
- CBSA name
- DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA