Contacts

Seth Jernigan, CCIM

SVN | Real Estate Associates (Durham)

(919) 287-2121

Property Details

Property Type Office - General Office
Property Size 16,747 SF
Units 3
Lot Size 1.11 Acre
Building Class B
Year Built 1920
Year Renovated 1983
Date Updated Apr 23, 2024

n/aSVN | Real Estate Associates is pleased to present for sale this rare opportunity to purchase a free-standing, multi-tenant office building adjacent to the 9th Street district in central Durham, with Duke University being the largest tenant. This property is located less than 1,000 ft. from Duke's East Campus and is surrounded by some of Durham's most popular retail and dining amenities. This is an excellent investor-opportunity, or well-suited for an owner-occupant who could immediately occupy ±3,300 SF and enjoy rental income from other tenants. With a lot size of ±1.114 acres, the property also has strong redevelopment potential when leases expire as land sales in the immediate area have exceeded $5M per acre.

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Highlights

49 on-site parking spaces.
One-of-a-kind urban infill location, adjacent to Erwin Square mixed use development, including office, Harris Teeter, Panera and many others.
Walking distance to Duke's campus and many restaurants, bars, and retail amenities.
Duke, a tenant since 2007, provides stability of income.
Compact Design zoning allows for a variety of uses, including office and/or retail.
Future covered land play. Great redevelopment potential when leases expire.
The property has been designated a historic property, meaning it benefits from 50% property tax deferment. A new owner must reapply or pay deferred taxes.

Attachments

Brochure (PDF) opens in new window

Getting around

89/100
Walk Score ®
53/100
Transit Score ®
89/100
Bike Score ®

Powered by Walk Score ®

City Durham, NC
Neighborhood Old West Durham
Zip Code 27705
Market Raleigh Durham

Points of Interest

Durham

1.14 miles

West Durham BP #450

0.08 miles
BP

0.29 miles
Gazelle

0.79 miles
Shell

0.80 miles
Family Fare

0.81 miles
Mobil

0.90 miles
Northgate Express

0.97 miles
Wades Texaco

1.07 miles
BP

1.08 miles
Exxon

1.12 miles

Randolph Parking Lot

0.34 miles
Bivins Parking Lot

0.36 miles
Gilbert-Addoms Lot

0.41 miles
Branson Hall Parking

0.41 miles
Pegram Parking Lot

0.42 miles
H Lot

0.44 miles
Biddle Music Parking Lot

0.46 miles
Wilson House/Red Zone

0.51 miles
Graduate Center Lot

0.53 miles
Brown Parking Lot

0.53 miles

Hilton Garden Inn Durham/University Medical Center

0.07 miles
Residence Inn Durham McPherson/Duke University Medical Center Area

0.73 miles
The University Inn

0.75 miles
CAMBRiA hotel & suites Durham - Duke University Medical Center Area

0.78 miles
Duke Tower

1.05 miles
R. David Thomas Executive Conference Center

1.11 miles
Morehead Manor Bed & Breakfast

1.22 miles
Whetstone Apartments

1.22 miles
Greystone Inn and Conference Center

1.23 miles
Hampton Inn & Suites North I 85

1.23 miles

Whole Foods Market

0.14 miles
Harris Teeter

0.19 miles
Food Lion

0.80 miles
Durham Co-op Market

0.82 miles
Brightleaf Square

0.88 miles
Northgate Shopping Mall

1.11 miles
Food Lion

1.36 miles
Ross

1.40 miles
Harris Teeter

1.58 miles
Harris Teeter

1.64 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

2020 W. Main Street