Property profile

3214 Hillsborough Rd Durham, NC 27705

FOR LEASE
Warehouses
Property ID
US53-1555877
106,420 SF 11.7 ac lot Built 1961
Entity Owned ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 12-acre Durham County retail opportunity presents 71,652 square feet of space, currently vacant at 65,956 square feet. The property, formerly a Coca-Cola bottling warehouse, is slated for transformation into a Class-A mixed-use development, offering a unique chance to be part of a vibrant, upscale project. Spaces are divisible down to 4,760 square feet, with a maximum contiguous space of 23,296 square feet, providing flexibility for various retail concepts. The location boasts unparalleled accessibility, situated just one mile from Duke University's main campus and hospital, ensuring high visibility and foot traffic. Hillsborough Road's impressive traffic counts of 23,000 and 15,000 vehicles per day (VPD) further enhance the property's appeal. The surrounding area demonstrates strong demographics, with a daytime population of 351,377 within a 15-minute drive and an average household income of $99,150. This prime location offers an exceptional opportunity for businesses seeking high visibility and a strong customer base in a rapidly growing area. The property's size and flexible layout cater to a wide range of retail uses, making it an ideal investment for discerning businesses.

Property profile

Verified
Property type Warehouses
Use group WAREHOUSE, STORAGE
Year built 1961
Total area 106,420 SF
Lot 11.7 ac (509,652 SF)
Zoning code IL
APN 119586
UPID US53-1555877

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Big Box & Wholesale Store Distribution Center

Location

3214 Hillsborough Rd Durham, NC 27705
Durham metro Census 401 DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$6.89M

Owner & transaction history

2 recorded transactions
1969
Price N/A
1969
Price N/A

Zoning & alternative use

IL · Durham, NC
Zoning description

The IL District is established to provide for a wide range of light manufacturing, warehousing, and wholesaling activities as well asofficesand some support services, all subject to minimum design standards intended to e…

General category INDUSTRIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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