Mezzanine Condo with Long-Term Value-Add 101-103 W Main St 7,306 SF Office Condo Unit Online Auction Sale Durham, NC 27701

Lee & Associates, as the exclusive listing agent, is pleased to offer for sale a 7,306-square-foot condo in the mezzanine of Durham's historic Kress building. The condo is currently leased to American Underground, a coworking space provider. The tenant has been on-site for 10 years and will be vacating the condo in November 2026, providing a handful of income-generating months while a new investor or owner/occupier pursues leasing strategies. The condo is flexible and can accommodate office or retail repurposing. The Kress was built in the 1930s and features stunning architecture, with floral and foliage motifs adorning its facade and interior. The Kress was adaptively repurposed and renovated in 2006, with the upper levels now consisting of 14 luxury residential condo units. The Kress Building's location provides easy access to the Durham Freeway/ Highway 147, Duke University, and Duke University Medical Center. It is highly visible and easily accessible at the intersection of W Main Street and S Mangum Street in Downtown Durham's Central Business District, boasting a daily traffic count of more than 14,900 vehicles. This lively locale puts tenants footsteps from all downtown activity, including the Durham Performing Arts Center, the Durham Bulls Athletic Park, and the Farmers' Market. Downtown is known for its wide-ranging selection of restaurants, breweries, and bars. GoDurham buses that make stops along Main Street and at the Durham Station on West Pettigrew Street. Commuters can drive less than 20 minutes to reach major employers, including Duke University and its hospital, and tech giants in the Research Triangle Park. Durham Freeway is one of the major commuting routes, connecting to the Raleigh-Durham International Airport and Downtown Raleigh. The Kress Building's 5-mile radius is home to a growing, well-educated population of approximately 201,759 residents, with nearly 45% holding a bachelor's degree or higher. The average household income exceeds $85,700, and more than $2.3 billion is annually generated back into the realm via robust consumer spending. Education and health services retain an overwhelmingly surplus of daytime employees, with leisure and hospitality next in line.