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1111 Neville St 46,094 SF 100% Leased Industrial Building Durham, NC 27701 $6,200,000 ($134.51/SF) 6.50% Cap Rate
Investment Highlights
- ±23,000 SF leased long-term to Counter Culture Coffee (NNN) with remaining space providing near-term occupancy or lease-up potential
- Surrounded by residential neighborhoods where renovated and new construction homes routinely sell for $800,000 - $1,000,000
- Directly across from East End & Long Meadow Parks redevelopment
- ±46,094 SF warehouse with 4 dock-high loading positions and covered loading area
- Immediate access to downtown amenities, Duke University & Medical Center, and key transportation corridors
- New TPO roof + wet sprinkler system
Executive Summary
1111 Neville Street offers a rare opportunity to acquire a ±46,094 SF urban infill industrial warehouse in one of Durham’s fastest-evolving corridors.
Approximately 23,000 SF is leased long-term to anchor tenant, Counter Culture Coffee, on a NNN lease with tiered rent and accelerated annual escalations, providing a strong income base. The remaining space is occupied by multiple tenants with short-term leases, allowing for owner-user occupancy or repositioning in the near term.
The property is adjacent to the City of Durham’s planned $42M redevelopment of East End and Long Meadow Parks, further enhancing the area’s long-term growth trajectory. The surrounding neighborhood continues to see impressive home sale numbers, often exceeding prices of $900,000.
Located just minutes from downtown Durham (±1.5 miles) and Duke University (±3.5 miles), 1111 Neville is well positioned for a buyer seeking an asset in the direct path of growth.
Financials are available upon request with execution of an NDA.
Approximately 23,000 SF is leased long-term to anchor tenant, Counter Culture Coffee, on a NNN lease with tiered rent and accelerated annual escalations, providing a strong income base. The remaining space is occupied by multiple tenants with short-term leases, allowing for owner-user occupancy or repositioning in the near term.
The property is adjacent to the City of Durham’s planned $42M redevelopment of East End and Long Meadow Parks, further enhancing the area’s long-term growth trajectory. The surrounding neighborhood continues to see impressive home sale numbers, often exceeding prices of $900,000.
Located just minutes from downtown Durham (±1.5 miles) and Duke University (±3.5 miles), 1111 Neville is well positioned for a buyer seeking an asset in the direct path of growth.
Financials are available upon request with execution of an NDA.
Property Facts
| Price | $6,200,000 | Rentable Building Area | 46,094 SF |
| Price Per SF | $134.51 | No. Stories | 1 |
| Sale Type | Investment or Owner User | Year Built | 1960 |
| Cap Rate | 6.50% | Clear Ceiling Height | 30’ |
| Property Type | Industrial | No. Dock-High Doors/Loading | 4 |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 1 |
| Building Class | C | Cross Streets | Mallard Av |
| Lot Size | 1.64 AC | ||
| Zoning | IL - Industrial Light | ||
| Price | $6,200,000 |
| Price Per SF | $134.51 |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.50% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.64 AC |
| Rentable Building Area | 46,094 SF |
| No. Stories | 1 |
| Year Built | 1960 |
| Clear Ceiling Height | 30’ |
| No. Dock-High Doors/Loading | 4 |
| No. Drive In / Grade-Level Doors | 1 |
| Cross Streets | Mallard Av |
| Zoning | IL - Industrial Light |
Amenities
- Controlled Access
- Air Conditioning
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 110695 | Improvements Assessment | $1,397,796 |
| Land Assessment | $1,664,318 | Total Assessment | $3,062,114 |
Property Taxes
Parcel Number
110695
Land Assessment
$1,664,318
Improvements Assessment
$1,397,796
Total Assessment
$3,062,114
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1111 Neville St
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