3026 Old Chapel Hill RdDurham, NC 27707

Property Details for 3026 Old Chapel Hill Rd

Year built

1989

Property size (Sq ft)

3,935 SF

Property type

Healthcare properties

Property subtype

Other office properties

Description

This exceptional investment opportunity presents a 3,935 square foot medical office building located at 3026 Old Chapel Hill Rd, Durham, NC 27707. The property is currently 100% occupied by Jones Orthodontics under a 10-year absolute NNN lease, eliminating landlord responsibilities. The lease features a corporate guarantee, providing significant security for the investor. The asking price is $1,215,000, representing a price per square foot of $308.77 and a compelling 6.75% cap rate based on a current Net Operating Income (NOI) of $82,000. Built in 1989, this single-tenant property offers a stable and predictable income stream. The lease includes a 10% rent increase in year six, further enhancing the investment's long-term value. Furthermore, the lease agreement provides four, five-year extension options, each with an additional 10% rent increase, ensuring continued growth and return on investment. This is a rare opportunity to acquire a high-quality, passively managed medical office building in a desirable Durham location. The property's strong tenant, long-term lease, and built-in rent increases make it an ideal addition to any portfolio seeking stable, high-yield returns.

Location Insight

City

Durham

County

Durham

State

North Carolina

Latitude

35.967

Longitude

-78.9464

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