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101-103 W Main St - Kress Building 4,574 - 7,306 SF Office Condo Units Offered at $950,000 - $1,450,000 Per Unit in Durham, NC 27701
INVESTMENT HIGHLIGHTS
- Located in the historic Art Deco Kress Building in Downtown Durham
- Walkable to most of Downtown Durham, DPAC, American Tobacco Campus and the DBAP
- Easy access to the NC 147 (Durham Freeway), Duke University, and Duke University Medical Center
- Parking available in the Church Street parking garage, on street parking, and a paved lot behind the building
- Numerous dining options include The Hive, Bar Virgile, Luna Rotisserie and Empanadas, Mateo, and Bull McCabe’s Irish Pub
EXECUTIVE SUMMARY
Two commercial condos totaling approximately 11,880 SF for sale. Prominently located on the corner of Main Street and Mangum Street. The building offers unbeatable walkability to numerous restaurants, shops, and parking decks. Owners have recently invested in a new roof and HVAC.
PROPERTY FACTS
| Total Building Size | 49,000 SF | Typical Floor Size | 9,628 SF |
| Property Type | Year Built | 1930 | |
| Building Class | B | Lot Size | 0.26 AC |
| Floors | 5 | Parking Ratio | 0.37/1,000 SF |
| Zoning | DD-C - Commercial | ||
| Total Building Size | 49,000 SF |
| Property Type | |
| Building Class | B |
| Floors | 5 |
| Typical Floor Size | 9,628 SF |
| Year Built | 1930 |
| Lot Size | 0.26 AC |
| Parking Ratio | 0.37/1,000 SF |
| Zoning | DD-C - Commercial |
AMENITIES
- 24 Hour Access
- Property Manager on Site
2 UNITS AVAILABLE
Unit 1
| Unit Size | 4,574 SF | Condo Use | Office |
| Price | $950,000 | Sale Type | Owner User |
| Price Per SF | $207.70 | Sale Conditions | 1031 Exchange |
| Unit Size | 4,574 SF |
| Price | $950,000 |
| Price Per SF | $207.70 |
| Condo Use | Office |
| Sale Type | Owner User |
| Sale Conditions | 1031 Exchange |
DESCRIPTION
2 Suites - 2,721 & 1,853 SF
Total SF: 4,574 SF
1,853 SF suite leased to the High Dive
Lease expiration date: 12-31-29
2,721 SF suite leased to Strike Martial Arts
10-year lease
Sale price: $950,000
Cap rate: 9%
Unit 2
| Unit Size | 7,306 SF | Condo Use | Office |
| Price | $1,450,000 | Sale Type | Owner User |
| Price Per SF | $198.47 | Sale Conditions | 1031 Exchange |
| Unit Size | 7,306 SF |
| Price | $1,450,000 |
| Price Per SF | $198.47 |
| Condo Use | Office |
| Sale Type | Owner User |
| Sale Conditions | 1031 Exchange |
DESCRIPTION
7,306 Total SF
Owner Occupied
Leased to American Underground
Lease expiration date: 12-31-26
Currently built out as mostly open office with cafe style entry and modern small phone rooms and huddle meeting rooms
Sale price: $1,450,000
MAJOR TENANT INFORMATION Click Here to Access
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| American Underground |
-
|
Jan 0000
|
| Hive Dive Bar |
99,999 SF SF
|
Jan 0000
|
| ProcessMaker (sublease) |
99,999 SF SF
|
Jan 0000
|
| Strike Martial Arts |
99,999 SF SF
|
Jan 0000
|
Presented by
101-103 W Main St - Kress Building
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