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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3710 University Dr Durham, NC 27707

    • Office buildings
    • 58,775 SF
    • 6.06 lot acres
    For Lease
    View listing
    Last Sale
    Jun 30, 2023
    $2,116,753
    Value Estimations
    $2,490,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US53-1977720
    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.

    Current Use by Public Records

    • Storyboard Media / Marketing Agency / Video Production Service
    • Edward Jones - Financial Advisor: Nick Seligman, CFP® / Investment Service / Stock Broker
    • Edward Jones - Financial Advisor: Marva York / Financial Consultant / Finance Broker
    • North Carolina Coalition Against Domestic Violence / Non-Profit Organization / Social Services Organization
    • CoVar / Software Company

    Property Details for 3710 University Dr

    Year built
    1985
    Lot size
    6.06 lot acres
    Property size
    58,775 SF
    Zone code
    CC,OI
    Property type
    Office buildings
    APN
    121590
    APU
    121590

    Description

    This exceptional three-story office building, totaling 58,249 square feet, presents a unique opportunity in Durham's vibrant Durham submarket. Located at 3710 University Drive, this Class B property boasts a prime location, steps away from the University Hill mixed-use development, offering unparalleled convenience and walkability to a variety of amenities including O2 Fitness and numerous restaurants and retail establishments. The building features six total suites, with multiple tenancy options ranging from a minimum of 1,571 square feet to a maximum contiguous space of 3,374 square feet. Currently, 13,548 square feet of space is available. Built in 1988, the building has recently undergone significant renovations, including a completed exterior refresh. Two move-in-ready, pre-built suites are immediately available, along with a newly added first-floor tenant hub. Further common area amenity enhancements are planned for the near future. This property offers a blend of established infrastructure and modern upgrades, making it an ideal location for businesses seeking a thriving and convenient Durham address. The building is situated in Durham County, North Carolina, with easy access via zip code 27707.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,640,000
      ML approach
      $3,090,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.9502
    Latitude
    35.9678
    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
    $85,734
    $1,105,325
    $5,040,947
    $6,146,272
    -
    $1,105,325
    $5,040,947
    $6,146,272

    Comparable in this City

    • Value Estimation by Request
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    • Value Estimation
      $2,675,000
      10,948 SF

      3607 Witherspoon Blvd

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    • Value Estimation
      $2,985,000
      24,105 SF

      3325 Durham Chapel Hl Blvd

      OFFICE BUILDING • 24,105 SF
      3325 Durham Chapel Hl Blvd, Durham, NC 27707-6235
      View Details
    • Value Estimation
      $1,325,000
      10,568 SF

      1905 Chapel Hl Rd

      OFFICE BUILDING • 10,568 SF
      1905 Chapel Hl Rd, Durham, NC 27707-1107
      View Details
    • Value Estimation by Request
      2,922 SF

      2011 Chapel Hl Rd

      OFFICE BUILDING • 2,922 SF
      2011 Chapel Hl Rd, Durham, NC 27707-1109
      View Details
    • Value Estimation
      $5,395,000
      15,000 SF

      3004 Tower Blvd

      OFFICE BUILDING • 15,000 SF
      3004 Tower Blvd, Durham, NC 27707-2542
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing
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      Durham Office Building Near University

      59,650 SF office building near mixed-use development.
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      58,249 SF

      Renovated Office Building Near University

      Three-story office building near mixed-use development with ongoing renovations.
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    • $26 SF/Yr
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      Madison Centre Executive Suites

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    • Contact for pricing
      58,249 SF

      Durham Executive Office Space

      Prime Durham location, modern suites available
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      View Details
    • $18 SF/Yr
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      Durham Office Space: 3100 SF

      Prime Lakewood Office, 3100 sq ft
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    • $32 SF/Yr
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      Downtown Durham Office Space Available

      Suites available in historic Art Deco building, downtown Durham.
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      View Details
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    Durham, NC 27707
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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