1032 Miami Blvd Durham, NC 27703-2230
Property profile & analytics
1032 Miami Blvd Durham, NC 27703-2230
- Drive through restaurants
- 3,841 SF
- 0.57 lot acres
Property ID
US53-1641360
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Little Caesars Pizza / Restaurant
Property Details for 1032 Miami Blvd
- Year built
- 1988
- Lot size
- 0.57 lot acres
- Property size
- 3,841 SF
- Zone code
- CC
- Property type
- Drive through restaurants
- APN
- 120855
- APU
- 120855
Description
This exceptional investment opportunity presents a fee-simple ownership of a Little Caesars restaurant located at 1032 N Miami Blvd, Durham, NC 27703. The property boasts a 3,841 square foot building on a 0.57-acre lot, constructed in 1988 and renovated in 2023. Currently operating under a 20-year absolute NNN lease with a highly successful franchisee (the second largest in the nation with over 80 locations), this property offers exceptional stability and growth potential. The lease includes 10% rent bumps every five years and three five-year renewal options, minimizing landlord responsibilities. The property enjoys a prime location at a signalized intersection with excellent visibility and convenient access, situated within a thriving retail node boasting over 630,000 square feet of retail space within a one-mile radius. Notable nearby tenants include McDonald's, Family Dollar, AutoZone, and Advance Auto Parts. The property's strong financial performance is reflected in its $1,569,000 asking price, $102,000 net operating income (NOI), and attractive 6.50% capitalization rate. This is a rare opportunity to acquire a Class A retail property in the rapidly growing Triangle region of North Carolina, a region experiencing significant population growth (5.6% since 2020) and boasting a population exceeding 2.1 million. The Little Caesars brand is globally recognized, further enhancing the investment's appeal. This is a turnkey investment with minimal management requirements and significant long-term upside.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,600,000
- ML approach
- $1,600,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,520,000
Market price range: $806k - $2.14M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Durham
- County
- Durham
- State
- North Carolina
- Longitude
- -78.8698
- Latitude
- 35.9937
- CBSA code
- 20500
- CBSA name
- DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$4,885
$357,545
$518,033
$875,578
-
$357,545
$518,033
$875,578
