3205 University Dr Durham, NC 27707
- Retail space
- 12,800 SF
- 1.19 lot acres
Current Use by Public Records
- Samaritan Health Center / Medical Clinic / General Practitioner
- income tax and accounting services llc / Certified Public Accountant
- Tortilleria y Carniceria Migueleña / Mexican Grocery Store
- Mattress Furniture Liquidation Durham / Mattress Store
- Muebleria El Nido Durham / Mattress Store
Property Details for 3205 University Dr
- Year built
- 2001
- Lot size
- 1.19 lot acres
- Property size
- 12,800 SF
- Zone code
- CN
- Property type
- Retail space
- APN
- 123222
- APU
- 123222
Description
This 11,896 square foot, single-story shopping center in Durham, NC, presents a compelling investment opportunity. Located at 3205 University Dr, this stabilized asset boasts a 7.10% cap rate and a pro-forma cap rate of 8.30%. Built in 1967 and renovated in 2001, the property features 53 parking spaces and sits on a 1.19-acre lot. Currently 100% occupied with multiple tenants, including a Domino's Pizza, the center benefits from recent capital improvements including new HVAC, parking lot resurfacing, and landscaping. Its prime location in South Durham, near Duke University, Research Triangle Park, and I-40, offers exceptional access to a high-income demographic. The surrounding area shows strong retail performance with approximately 1,000,000 square feet of retail and 1,800 apartment units within a one-mile radius. The property's proximity to downtown Durham (three miles) and a population of 144,551 within a three-mile radius further enhances its investment potential. An adjacent one-acre parcel is also available for purchase separately. The asking price is $3,150,000.
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
- -78.9415
- Latitude
- 35.9675
- CBSA code
- 20500
- CBSA name
- DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA
