1702 Miami BlvdDurham, NC 27701

Property Details for 1702 Miami Blvd

Year built

1954

Lot size

0.24 AC

Property size (Sq ft)

1,785 SF

Zone code

CG

Property type

Retail space

APN

113358

APU

113358

Description

This exceptional redevelopment opportunity presents a 1,815 square foot vacant storefront situated on two commercial parcels totaling approximately 0.41 acres at the signalized intersection of North Miami Boulevard and East Geer Street in Durham, North Carolina. The property, identified by APNs 113358 & 113359, features a single-story building constructed in 1954 and renovated in 2017. Currently in shell condition, this retail space offers significant potential for a variety of uses. The property benefits from Commercial Neighborhood (CN) and Commercial General (CG) zoning designations, providing flexibility for future development. The asking price is $650,000. This high-traffic location presents a unique chance to capitalize on a vibrant Durham market. The existing building provides a solid foundation for a quick turnaround, while the ample lot size allows for expansion or additional development. Don't miss this chance to acquire a prime commercial property in a rapidly growing area.

• CAP approach

  CAP return

  Valuation

  6%

  $627,489

  6.5%

  $579,221

  7%

  $537,848

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,032,517

  Geo Method

  $1,032,517

• Alternative Use

  Use

  Valuation

  Residential

  $488,595

  Hospitality

  $447,550

  Educational

  $372,356

  Medical

  $385,162

  Retail

  $579,221

Location Insight

City

Durham

County

Durham

State

North Carolina

Latitude

36.0033

Longitude

-78.8777

CBSA code

20500

CBSA name

DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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