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101-103 W Main St
Durham, NC 27701

$1,257,850 - $1,575,757 USD

Loft Creative Space Condos For Sale  •  4,574+ SF

Property Details

  • Property Type Loft Creative Space
  • Total Building Size 49,000 SF
  • Lot Size 0.22 AC
  • Building Class B
  • Year Built 1930
  • Tenancy Multiple
  • Zoning DD-C
64 Transit Score
95 Walk Score

3 Units Available

Name Condo Use Size Price Details
Bsmt Floor - Unit 1 Office 4,574 SF $1,257,850 USD
  • Unit Size: 4,574 SF
  • Condo Use: Office
  • Price: $1,257,850 USD
  • Sale Type: Owner User
  • Price/SF: $275.00 USD
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 is vacant and ideal for owner occupant
Vacant suite is currently built out as gym/yoga space
Sale price: $1,257,850

Sale Notes
Seller will leaseback the vacant space in this unit as well!
1st Floor - Unit 3 Office 5,153 SF $1,575,757 USD
  • Unit Size: 5,153 SF
  • Condo Use: Office
  • Price: $1,575,757 USD
  • Sale Type: Owner User
  • Price/SF: $305.79 USD
Description
5,153 SF Total
Street level entry with frontage on Main Street
Currently leased to Stewart Engineering
Lease expiration date: 2-28-26
Currently built out as mix of open and private offices and recently upfitted with modern finishes
Approximate NOI: $130k
Cap rate: 8.25%
Sale price: $1,575,757

Sale Notes
https://my.matterport.com/show/?m=ghAgmG43eeg
Virtual tour of 1st floor unit!
Mezz Floor - Unit 2 Office 7,306 SF $1,529,411 USD
  • Unit Size: 7,306 SF
  • Condo Use: Office
  • Price: $1,529,411 USD
  • Sale Type: Owner User
  • Price/SF: $209.34 USD
Description
7,306 Total SF 
Fully leased to American Underground with a sublet to ProcessMaker
Lease expiration date: 11-30-26
Currently built out as mostly open office with cafe style entry and modern small phone rooms and huddle meeting rooms
Approximate NOI: $130k
Cap Rate: 8.5%

Description 

Three commercial condos totaling approximately 17,213 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.  Contact broker for NOI / cap rate details.

Highlights

Located in the historic Art Deco Kress Building in Downtown Durham
Parking available in the Church Street parking garage, on street parking, and a paved lot behind the building
Walkable to most of Downtown Durham, DPAC, American Tobacco Campus and the DBAP
Numerous dining options include The Hive, Bar Virgile, Luna Rotisserie and Empanadas, Mateo, and Bull McCabe’s Irish Pub
Easy access to the NC 147 (Durham Freeway), Duke University, and Duke University Medical Center

Property Flyers

Amenities

  • 24 Hour Access
  • Bus Line
  • Conferencing Facility
  • Property Manager on Site
  • Restaurant
  • Signage

Public Transportation

Commuter RailDriveWalkDistance
Durham Amtrak Station (Carolinian - Amtrak, Piedmont - Amtrak) 2 min 7 min 0.4 mi
AirportDriveWalkDistance
Raleigh-Durham International 21 min - 14.3 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 18
Type: Surface
Included in Rent: Yes
Brian Farmer, SIOR 919-576-2503 Lee & Associates
Brian Farmer, SIOR 919-576-2503 Lee & Associates